What is Prismatic Lithium Battery Market?
Prismatic lithium battery is used for power sources for portable electronic with combination of excellent life cycle, high energy density. Technological advancement and development to improve the capacity and cycle life of the prismatic lithium battery is going on in various counties. Moreover, major battery manufactures are investing in development of new and improved electrode materials and this is projected the growth of the prismatic lithium battery market in the forecast period.
The market study is being classified by Type (LiCoO2 Battery, NMC/NCA Battery, LiFePO4 Battery and Others), by Application (Communication Equipment, Consumer Electronics, Electric Vehicles, Flashlights, Cordless Power Tools, Motor, Car and Others) and major geographies with country level break-up.
Panasonic Corporation (Japan), Samsung SDI (South Korea), LG Chem (South Korea), Johnson Controls (Ireland), Lithium Werks (Netherland), Saft Groupe (France), VARTA Storage (Germany), Hitachi (Japan), Sony Corporation (Japan) and Wanxiang Group (China) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are TianJin Lishen Battery Joint-Stock CO.,LTD. (China), BAK Group (China), OptimumNano Energy Co.,Ltd. (China) and GS Yuasa (Japan).
The Manufacturers having a strong hold in the market are Panasonic Corporation, Samsung SDI, LG Chem, and Johnson Controls. Research Analyst at AMA predicts that Asian and European Manufacturers will contribute to the maximum growth of Global Prismatic Lithium Battery market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Prismatic Lithium Battery market by Type, Application and Region.
On the basis of geography, the market of Prismatic Lithium Battery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increase in Number of Prismatic Lithium Battery in Energy Storing Devices, for Example in Household Units and Industrial
- Rapid Utilization of Prismatic Lithium Battery in Transportation as its a Substitute for Fuel
Market Trend
- Collaboration and Tie Up Of Leading Players
Restraints
- High Cost Associated With Prismatic Lithium Battery
Opportunities
- Technological Advancements in the Field of Prismatic Lithium Battery such as Power Technology Leads to Grow the Market
- Upsurge Demand of Prismatic Lithium Battery in Consumer Electronics Products
Challenges
- Lack of Charging Stations and Infrasture for the Lithium Battery are Hindering the Market Growth
Market Leaders and some development strategies
On 10th November 2018, SolarEdge Technologies, Inc. has acquired Kokam Co., Ltd. This acquisition is beneficial in providing batteries and energy storage solutions that enabled seamless integration with the latest solutions and smarter solar installations.
According to IATA Dangerous Goods Regulations (DGR), it provides a smart luggage regulation, where the baggage are exhibited with lithium battery and used to address the carriage of lithium battery-powered devices such as cargo tracking devices and temperature data loggers.
Key Target Audience
Prismatic Lithium Battery Manufacturers, Electric Vehicles Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other