The latest trend gaining momentum in the market is legislative support for battery recycling. Lithium-ion batteries are the most commonly used battery type globally for many applications. Globally, governments worldwide are formulating regulations to recycle batteries that have harmful materials, such as lithium-ion cells to prevent groundwater and environmental contamination. Recycling can help extract useful metals from battery scrap, which also helps manufacturers overcome cost issues in the production of new batteries. Since 2006, Umicore of Belgium has been one of the few companies recycling lithium-ion batteries, using a combination process of smelting and leaching with chemicals to recover the metals. Similarly, other companies in different parts of the world like Stiftung GRS Batterien, Li-Cycle, and others are focusing on lithium-ion battery recycling.
According to the report, one of the major drivers for this market is augmented demand from the consumer electronics market due to enhanced consumer spending. Urbanization and increase in the number of people earning in a family have led to an upsurge in disposable incomes worldwide. Consumer spending is an important economic factor since it generally reflects the overall consumer confidence in a country. Therefore, high consumer confidence obviously points to higher levels of consumer spending in the market.
Furthermore, the report states that one of the major factors hindering the growth of this market is a growing popularity of fuel cell solutions. Lithium-ion battery end-users such as the automotive and material handling equipment industries face a major challenge with the increasing replacement of standard lithium-ion batteries with fuel cells. For instance, forklifts are used in warehouses where the operations can extend for three or more shifts in a day. If lithium-ion batteries are used, they need to be replaced or charged more than once in a day, which leads to issues in logistics management. Conventional batteries such as lead-acid batteries and lithium-ion batteries require a long recharging period, hold less energy with each charge, and have to be replaced every 2-3 years. To overcome such difficulties, more of these end-users are opting for fuel cell systems.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
The report, Global Lithium-ion Battery Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
Key Topics Covered:
Part 01: Executive Summary Part 02: Scope Of The Report Part 03: Research Methodology Part 04: Introduction Part 05: Market Landscape Part 06: Market Segmentation By Application Part 07: Regional Landscape Part 08: Market Segmentation By Battery Technology Part 09: Decision Framework Part 10: Drivers And Challenges Part 11: Market Trends Part 12: Vendor Landscape Part 13: Vendor Analysis
About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.