Global lithium air battery market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 10% during the forecast period.
Global Lithium Air Battery Market
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Global Lithium Air Battery Market Definition
The lithium air battery (Li–air) is an electrochemical cell which is generally based on either non-aqueous or aqueous electrolytes and uses anode made from pure lithium metal and ambient air based cathode to induce a flow of a current. The anode and cathode used in Li-air battery is based on oxidation and reduction reaction, respectively.
Global Lithium Air Battery Market Dynamics
A surge in the adoption of Li-air batteries in automotive and consumer electronics applications is the major driving factor behind the growth of the market. An increasing demand for technologically advanced and light weight battery solutions, rising significance of Li-air batteries in medical, marine, military and defense industries and in power backup systems, rising introduction of advanced technology based battery powered devices, growing trend of hybrid and electric vehicles across the globe and escalating use of Li-air battery for grid back up application are expected to improve growth of the market during the forecast period.
However, need for additional expensive components, availability of alternative battery solutions or technology and challenges such as poor chemical stability are the major restraining factors that could hamper the growth of the market.
Global Lithium Air Battery Market: Segmentation Analysis
By industry, consumer electronics and automotive segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. From the past few years, Li-ion battery technology is constantly transforming the portable and consumer electronics industry and is creating new technological paths into energy storage in electrically powered transportation and electric grid applications. Nowadays, research laboratories from all over the globe are developing advanced battery technologies such as Li-air batteries with more benefits like increased safety, low cost, high power, and longer life than Li-ion batteries.
Li-air battery is considered to be able to hold more energy than lithium-ion batteries and are known as one of the great promising technologies for portable electronic devices and electric cars owing to their capability of delivering a high energy output, thus rising adoption of Li-air batteries in applications such as Smartphones, laptops, computers, smart electronic devices and electric and hybrid vehicles is improving growth of the market.
Global Lithium Air Battery Market: Regional Analysis
Region-wise, North America dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The US and Canada are the major contributors behind the growth of the market in the region. The growth is attributed to the growing adoption of Li-air batteries in automotive industry across the region. A growing market for automotive industry, rising production and sales of automotive cars, escalating demand for hybrid and electric vehicles and increasing investment in research and development activities in the field of Li-air batteries are driving the growth of the market in NA region.
However, Asia Pacific region is projected to witness fast growth at a CAGR of XX% during the forecast period. The economies such as China, India, Japan, and South Korea are expected to contribute to the market growth. Growing industrialization, growing market for consumer electronics and automotive industry, rising adoption of handheld or portable electronics products, rising awareness regarding electric vehicles and increasing government initiatives and investments in the electronics industry to improve economy of the country are the major factors that are expected to impel market growth during the forecast period.
The objective of the report is to present a comprehensive analysis of the Global Lithium Air Battery Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Lithium Air Battery Market dynamics, structure by analyzing the market segments and projects the Global Lithium Air Battery Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Lithium Air Battery Market make the report investor’s guide.
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The Scope of Global Lithium Air Battery Market: Inquire before buying
Global Lithium Air Battery Market, By Type
• Aprotic Li-air batteries
• Aqueous Li-air batteries
• Mixed aqueous/aprotic
• Solid state Li-air batteries
Global Lithium Air Battery Market, By Industry
• Automotive
• Consumer Electronic
• Energy Storage
• Others
Global Lithium Air Battery Market, By Region
• North America
US
Canada
• Europe
UK
France
Germany
Italy
Spain
Norway
Russia
• Asia Pacific
China
India
Japan
South Korea
Australia
Malaysia
Indonesia
• South America
Brazil
Mexico
Argentina
• Middle East and Africa
Global Lithium Air Battery Market, Key Players
• PolyPlus
• Lithium Air Industries, Inc
• Mullen Technologies Inc
• Panasonic
• Toshiba
• LG Chem
• Tesla
• A123 Systems
• eCobalt Solutions
• BYD
• Samsung
• Johnson Controls
• Contemporary Amperex Technology
• Future Hi-Tech Batteries
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