The surge in investment in renewable energy sources is being driven by increased awareness of renewable energy and tight government regulations. Renewable energy sources do not deliver continuous energy. hence energy storage is required to ensure a steady power supply. The lithium-ion battery packs market is expected to grow globally due to developments in technology and the increased need for cost-effective solutions for the storage of renewable energy. The current lithium-ion battery packs are lightweight, compact, and have a low stand-by rate with a high energy density thanks to advanced technology. Lithium-ion battery packs contain fewer hazardous heavy metals than other types of batteries, making them an environmentally beneficial way to store energy. These factors are projected to boost the lithium-ion battery pack market during the forthcoming years. The sale of automobiles is experiencing rapid growth, owing to the rise in population and changes in consumer purchasing trends. Electric vehicle demand and production are fueled by the rise in environmental concerns and advancements in digitally controlled units. Thus, the global lithium-ion battery pack market is predicted to expand attributed to the surge in demand for electric vehicles.
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The global Lithium-ion Battery Packs market study depicts the current key trends, market analysis, competitors’ strategy, and impending market & technology forecast. Moreover, the study also embodies the revenue size, market extent, and growth prospects of the global Lithium-ion Battery Packs market in terms of value and major trends at the regional level.
Segmental Outlook of the Market
The global Lithium-ion Battery Packs market is classified on the basis of type, application, end-user, and region. Based on geography, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Spain, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The segmental study is provided (real-time and forecast) in both quantitative and qualitative facets. This aids the clients in identifying the most productive segment to keep on with investments, along with short-term acknowledgment of the operating enterprises and their key developmental undertakings.
The major players operating in the global Lithium-ion Battery Packs market are examined to comprehend their competitive strength and position in the sector along with different data points, which take in the brief company overview, key officials of the company, current financials of the venture, major growth strategies incorporated by the respective enterprise, and new approaches or tactics undertaken by the firm to sustain and perk up their stand in the global Lithium-ion Battery Packs market.
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Key Segments Covered:
By Type:
- Lithium Iron Phosphate
- Lithium Cobalt Oxide
- Lithium Nickel Manganese Cobalt
- Others
By Application:
- Solar Power Storage
- Electric mobility
- Emergency Power Backup
- Others
By Industry Vertical:
- Automotive
- Marine
- Mining
- Renewables
- Electronics
- Others
By Region:
- North America (U.S., Canada, Mexico)
- Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players:
A123 Systems LLC, Saft. ENVISION AESC GROUP LTD, LG Chem, Panasonic Corporation, BAK Power, Toshiba Corporation, BYD Company Ltd, Tesla, Total Battery Solutions Ltd, ROMEO POWER, INC, SAMSUNG SDI CO., LTD., Excell Battery Co.,, Amperex Technology Limited, Corvus Energy
Covid-19 impact analysis:
The outbreak of COVID-19 affected the global economy severely and the Lithium-ion Battery Packs market was also not an exception in this regard. The report includes the COVID-19 impact on the market along with the current stratagems, dynamic slants, lines, and tactics espoused by the major players in the sector. It would further add up value to our clients by offering much-needed insights into the global spectrum of the market. Apart from showcasing the impact instigated on the market share and size throughout the pandemic, especially during the initial phase, it also focuses on the key strategies implemented by the frontrunners during this crisis. Simultaneously, with the rollout of mass vaccination programs across the world, the market is expected to revive soon and the report also offers the post-COVID-19 impact on the global Lithium-ion Battery Packs market.
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The Report Encompasses the Below Key Points-
- The segment that garners the major share in terms of revenue
- The industry players and the approaches adopted by them
- New tactics embraced by the players to carry through this pandemic
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