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According to a new report Global Rechargeable Poly Lithium-Ion Battery Market, published by KBV research, The Global Rechargeable Poly Lithium-Ion Battery Market size is expected to reach $177.2 billion by 2026, rising at a market growth of 6.9% CAGR during the forecast period.
The cylindrical battery dominated the market in the year 2019. These types of products find their major application in electric vehicles and consumer electronics. Increasing demand for consumer electronic devices is the major driving factor for this segment. The prismatic battery structure that is also known as flat rectangle battery, is likely to grow at the fastest CAGR from the year 2020 to 2026.
Electric vehicles led the market in the year 2019. Electric vehicles that are using rechargeable poly lithium-ion batteries have gained much attention due to the need for energy-efficient products and environmentally friendly. The consumer electronics application is anticipated to show a moderate growth rate over the coming year. This is accredited to the durability and high reliability of such batteries in electronic appliances, like smartphones and laptops.
The Asia Pacific has shared the largest revenue in the year 2019. It is anticipated to uphold its lead over the foreseeable period. This is accredited to high awareness among customers concerning supporting an eco-friendly environment. The customers of this region can give the product because of the high disposable earnings. North America is expected to show considerable growth over the foreseeable period owning to increasing electric vehicle and consumer electronics sales across countries, such as the U.S. and Mexico. The ever-growing demand for these products in mobiles due to its improved efficiency and prolonged battery life is anticipated to boost the market.
Structural Insights: https://www.kbvresearch.com/rechargeable-poly-lithium-ion-battery-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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