Research and Markets reported today that the global Li-ion battery market for consumer electronics to grow at a CAGR of 3.6% over the period 2014-2019. And China is decreasing rapidly in terms of the market share.
Accordring to the “Global Li-ion Battery Market for Consumer Electronics 2015-2019”, whichwas released by Research and Markets, that Li-ion battery production has grown tremendously in China since 2005.
Japanese manufacturers dominated the Li-ion battery market for decades. However, since the major setbacks in 2008 and 2011, Japan's share has fallen dramatically and has been taken by South Korea and China. The country's extremely business-friendly environment and cheap and high quality labor has attracted Li-ion production facilities.
According to the report, the cost of Li-ion batteries is decreasing rapidly as these devices find an increasing number of end-user applications. Li-ion batteries cost about four to eight times more than lead acid batteries and one to four times more than Ni-MH batteries in 2010.
However, the costs have reduced significantly because Li-ion batteries find higher use in many applications such as BEVs, PHEVs, HEVs, uninterruptible power supply, forklifts, consumer electronics, and back-up power supplies. As the market grows and production scales up, manufacturers will be able to enjoy significant economies of scale.
