Global Lithium-Ion Battery Market Report 2022-2030 - Declining Costs of Lithium-Ion Batteries and Changing Battery Chemistry With Innovation in Manufacturing.
M2 PRESSWIRE-May 18, 2022-: Global Lithium-Ion Battery Market Report 2022-2030 - Declining Costs of Lithium-Ion Batteries and Changing Battery Chemistry With Innovation in Manufacturing
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RDATE:18052022
The "Lithium-Ion Battery Market Report: By Type, Capacity, Application - Industry Size Estimation and Forecast to 2030" report has been added to ResearchAndMarkets.com's offering. Lithium-ion battery market revenue will reach to $165,847.8 million by 2030, at a high 15.3% CAGR
Among all the battery chemistries, NMC remains the most popular because of its high thermal stability, long life, and high energy storage capacity. This makes Li-NMC batteries ideal for consumer electronics and electric vehicles (EVs), both of which are witnessing a burgeoning demand.Another key reason for the rising usage of Li-ion batteries is the growth in renewable energy production. As per the IEA, renewable energy usage in 2020 grew by 3% from 2019 due to the commissioning of over 60 GW of wind power and more than 100 GW of solar power plants around the world. Even though renewable energy is beneficial, its output is unreliable. This is why the low energy output during periods of peak demand needs to be supplemented with the energy stored in batteries during periods of excess production.
The usage of iron trifluoride in the cathode brings opportunities for lithium-ion battery market players, by potentially widening the application area of these devices. Most of the conventional cathode materials are able to transfer a single electron to the anode, which limits the battery energy density. However, iron trifluoride can transfer three electrons, thereby increasing the energy density by three times.The usage of iron trifluoride in the cathode brings opportunities for lithium-ion battery market players, by potentially widening the application area of these devices. Most of the conventional cathode materials are able to transfer a single electron to the anode, which limits the battery energy density. However, iron trifluoride can transfer three electrons, thereby increasing the energy density by three times.Therefore, BYD Company Limited, Panasonic Corporation, LG Chem Ltd., Samsung SDI Co. Ltd., GS Yuasa Corporation, Shenzhen BAK Battery Co. Ltd., Showa Denko K.K. Company Ltd., Amperex Technology Limited, Toshiba Corporation, and Tesla Inc., are investing heavy sums in R&D, for enhancing the battery technology.
For instance, Toyota and...
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