Lithium-ion Battery Packs Market Valuation Of US$ 120.3 Bn By 2031
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Lithium-ion Battery Packs Market
Report Id : TMR-GL-74919
Category : Energy and Natural 
Resources
Published Date: 2021-04-21
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Energy & Natural 
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Lithium-Ion Battery Packs 
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Transparency Market Research delivers key insights on the global lithium-ion battery packs 
market. In terms of revenue, the global lithium-ion battery packs market  is estimated to 
expand at a CAGR of ~11% during the forecast period, owing to numerous factors regarding 
which TMR offers thorough insights and forecasts in its report on the global lithium-ion battery 
packs market.
The global lithium-ion battery packs market has been positively impacted by the rise in the 
production of electric vehicles, renewables, and electronics across the globe.
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The demand for full and hybrid vehicles has been rising across the world, especially in North 
America, Europe, and Asia Pacific. This can be ascribed to increase in awareness about the 
environment, rise in investment in infrastructure development for electric vehicles, and 
supportive governmental policies for electric vehicles. Europe was the leading region in terms 
of EV sales in 2020. In 2020, 1,367,138 passenger plug-in electric cars were registered in 
Europe. Sales of passenger cars stood at approximately 1,272,000 in 2020 in China. The share 
of electric vehicles in the total global car fleet is estimated to reach 44% in 2040 and more 
than 50% in 2050.
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Lithium-Ion Battery Packs
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Lithium-ion Battery Packs Market: Prominent Regions
In terms of value, Asia Pacific dominated the global lithium-ion battery packs market in 2020. It has emerged as a 
highly lucrative region of the global lithium-ion battery packs market in terms of industrial as well as urban 
development over the past few decades.  China is a leading country in the region, as it is the manufacturing hub for 
lithium-ion battery packs. Furthermore, the country is a leading manufacturer of consumer electronics and electric 
vehicles. Sales of electric vehicles stood at more than 1.3 million in China in 2020. Furthermore, the Government of 
China has implemented stringent regulations to reduce carbon emission and greenhouse gases. Companies and end 
users are mandated to adopt battery-operated vehicles in the country. Thus, demand for lithium-ion battery packs is 
expected to remain high in China during the forecast period.
Europe was another lucrative region of the global lithium-ion battery packs market in 2020. It is a one of the leading 
regions in terms of use of renewable sources. The lithium-ion battery cell market in Europe is projected to expand at a 
rapid pace over the next few years, reaching 140 GWh by 2020 and 215 GWh by 2025. The automotive lithium-ion 
battery packs market is estimated to expand to nearly 76 GWh by 2020 and 121 GWh by 2025.
The Lithium-Ion Battery Packs Market study provides an in-depth understanding.
By Region
 North America
 Europe
 Asia Pacific
 Latin America
 Middle East & Africa
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Energy & Natural 
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Lithium-Ion Battery Packs Market
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C omprehensive SWOT analysis of established market players is provided in the report along with 
critical data including the sales strategy, marketing strategy and pricing strategy adopted by 
each market player.
Lithium-Ion Battery Packs Market segments covered in the report:
By Product Type
 Lithium Iron Phosphate
 Lithium Cobalt Oxide
 Lithium Nickel Manganese Cobalt
 Others (including Lithium Manganese Oxide and Lithium Titanate)
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The regional assessment section throws light on the market scenario in different geographies 
along with relevant graphs, figures, and list of tables.
leading companies
 A123 Systems LLC
 Saft
 ENVISION AESC GROUP LTD.
 LG Chem
 Panasonic Corporation
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Lithium-Ion Battery Packs Market
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H igh Application of Lithium-ion Battery Packs in Renewables
 Investment in renewable energy projects has increased over the last decade, due to the rise in awareness 
about the environment. Energy from renewable sources is not continuous. It requires storage to provide 
continues power supply. Thus, lithium-ion battery packs are estimated to play a critical role in this, as lithium-
ion battery packs have low self-discharge rate, high energy density, and long life compared to any other 
battery packs.
 Generation of renewable energy is expected to reach more than 30 trillion kilowatt-hours by 2030 and more 
than 40 trillion kilowatt-hours by the end of 2050. This significant increase in renewable energy projects is 
likely to propel the demand for lithium-ion battery packs during the forecast period. 
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