Market Size of Lithium Ion Energy Accumulator Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.25 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Lithium Ion Energy Accumulator Market Analysis
The Lithium Ion Energy Accumulator Market is expected toregistger a CAGR of 12.25% over the forecast period 2021 - 2026. Over the last few decades, several forms of rechargeable batteries have found takers in consumer and utility scale applications. The general trend toward the development of batteries with longer run times and higher energy density can be clearly witnessed in this market.
- New forms of lithium ion batteries have been threatening to disrupt the energy accumulators market, by offering best-in-class energy density and a greater number of charge/discharge cycles. Plunging unit costs and higher adoption rates in utility-scale applications will aid the growth of lithium ion batteries, while lead-acid batteries are expected to reign over the SLI segment.
- The emergence of new forms of energy storage applications, such as solid electrolyte, magnesium ion, and metal-air batteries, may transform the market dynamics.
- Moreover, with the increasing urbanization, the demand for consumer electronics goods is also increasing at an exponential rate, thus, driving the market for Li-ion energy accumulators (batteries). Acquisition costs and realization of several power/energy projects may open up new opportunities for the growth in this market.
- However, Li-ion battery manufacturers have to be mindful of its limitations, such as relatively low-temperature threshold, highly reactive nature of lithium, and deployment costs. Lack of charging infrastructure and greater utilization of non-renewable sources of energy (impeding adoption for energy storage applications) are expected to impede the growth in this market.
