The Latin America, Middle East and Africa Rechargeable Poly Lithium-Ion Battery Market would witness market growth of 8.2% CAGR during the forecast period (2020-2026). The market is mainly driven by increasing demand for rechargeable poly lithium-ion battery in both electric vehicles and grid storage because it is light in weight and give high-energy density solutions. An increase in the registration of electric vehicles (EVs) and concurrent reduction in lithium-ion battery costs are likely to expand market growth over the foreseeable period. Furthermore, a rise in the sales of electric vehicles and transformation in client preferences are expected to boost the global market for rechargeable poly lithium-ion batteries.
The necessity for eco-friendly and energy-efficient products has resulted in an increasing focus on electric vehicles (EV). Hybrid electric vehicles (HEVs) mainly require a combustion engine and a battery in tandem and have shown an upsurge in demand. The battery in EVs can be charged by plugging it into a designated public charging station or the electric grid. Since HEVs can use both fuels and electric power, the battery can capture lost energy at the time of braking by the use of the electric motor.
These batteries find is applications in consumer electronic goods, such as laptops, electric vehicles (EV), hybrid electric vehicles (HEVs), and digital cameras. If it is compared with the conventional parts, the compressed size of the battery and its working effectiveness have resulted in an increase in the product demand and thereby rise in its penetration in the market. Lithium metal is characteristically unstable at the time of charging, and therefore the research focus has been shifted from metallic to non-metallic lithium ions. The efficiency of the energy of the non-metallic lithium-ion is twice that of cadmium-nickel batteries.
Based on Structure, the market is segmented into Cylindrical and Prismatic. Based on Application, the market is segmented into Electric Vehicles, Industrial, Power, Consumer Electronic and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Rechargeable Poly Lithium-Ion Battery Market in LAMEA is expected to register a CAGR of 8.2% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group) (Samsung SDI Co., Ltd.), 3M Company, Koninklijke Philips N.V., Motorola Solutions, Inc., Toshiba Corporation, Fujifilm Holdings Corporation, Olympus Corporation, Nikon Corporation, Sony Corporation, and LiPol Battery Co., Ltd.
Market Segmentation:
By Structure
By Application
By Country
Companies Profiled
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