Rockville, MD , Sept. 11, 2024 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, through its newly published market analysis, reveals that revenue from the Li-ion Pouch Battery Market is projected to reach US$ 69.13 billion in 2024. The market has been forecasted to reach a value of US$ 174.48 billion by the end of 2034, expanding at a CAGR of 9.7% over the next ten years.
In potentially high growth countries, where more flexible options, including cross-border interconnections and natural gas generation, are insufficient, pocket-friendly renewable energy generation practices are becoming increasingly popular. The growth of the Li-ion pouch battery market is being driven by the fact that the Li-ion battery technologies, which have been ruling the storage industry for the past few years have not come across a significant decrease in prices. The importance of automotive lithium batteries is growing as more people are becoming aware of sustainable resources and the availability of raw materials is decreasing on Earth.
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Key Takeaways from the Market Study:
- The global market for Li-ion pouch batteries is analyzed to reach a value of US$ 174.48 billion by the end of 2034.
- India is evaluated to reach a market valuation of US$ 6.45 billion in 2024.
- China is projected to contribute a market share of 62% in East Asia in 2024.
- Demand for Li-ion pouch batteries in Japan is estimated to reach US$ 4.68 billion in 2024.
- The market in the South Asia & Pacific region is projected to advance at 10.4% CAGR through 2034.
- The global demand for lithium iron phosphate is approximated to increase at a CAGR of 9.3% through 2034.
“The growth of the Li-ion pouch battery market is being driven by the fact that the lithium-ion battery technologies that have been ruling the storage industry for the past few years and have not seen a significant decrease in cost,” says a Fact.MR analyst.
Leading Players Driving Innovation in Li-ion Pouch Battery Market:
CUSTOM CELLS ITZEHOE GMBH; FDK Corporation; Enertech International Inc.; DNK Power Company Limited; Amperex Technology Limited; Energy Innovation Group Ltd.; Bestgo B Vertical Partners West LLC; Servovision Co. Ltd.; Fruedenberg Group; Leclanché SA; A123 Systems LLC; Toshiba Corporation; Gee Power; EVE Energy Co. Ltd.; SK Innovation Co. Ltd.; EPEC LLC; FluxPower Battery Co., Ltd.; SOLAREDGE e-MOBILITY SpA; Echion Technologies; Panasonic Industrial Corporation; YOK Energy; Shenzhen Ace Battery Co. Ltd.
Electric Vehicle Manufacturers Use Li-ion Batteries Due to Their Extended Energy Storage Features:
Governments from all around the world are working to reduce the amount of pollutants coming from ordinary cars. In addition, the exhaustion of natural resources poses a threat to the environment. As a result, more customers are giving preference to drive electric cars. Electric vehicle manufacturers prefer lithium-ion batteries because they have a longer energy storage life and are also used in hybrid vehicles.
Li-ion Pouch Battery Industry News:
- FDK Corporation in February 2021 declared that it would expand its high-power cylindrical-type primary lithium-ion battery assembly line to increase production capacity by 25%.
- SK Innovation, Hyundai Motors, and Kia joined forces in April 2021 to jointly develop batteries for electric vehicles. Mass production and installation are anticipated to begin in 2024.
- The Toyota Technology and Development Award for lithium-ion batteries for hybrid cars was given to GS Yuasa International Limited in March 2021.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the li-ion pouch battery market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the li-ion pouch battery market based on chemistry (lithium cobalt oxide, lithium manganese oxide, lithium nickel manganese cobalt oxide, lithium iron phosphate, lithium titanate), capacity (1 to 3Ah, 5 to 10Ah, 11 to 15Ah, 16 to 30Ah, 40 to 50Ah, 50 to 100Ah), thickness (6mm, 7mm, 8mm, 9mm, 10mm, 11mm, 12mm), by rated voltage (6v, 12v, 24v, 48v, 60 to 72v, 96v), end user (electric vehicles, cell phones, battery-powered off-road vehicles, robotics, energy storage systems, portable electronic devices, utility meters, medical measurements and portable devices), and across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
Segmentation of Li-Ion Pouch Battery Market Research:
By Chemistry :
- Lithium Cobalt Oxide
- Lithium Manganese Oxide
- Lithium Nickel Manganese Cobalt Oxide
- Lithium Iron Phosphate
- Lithium Titanate
By Capacity :
- 1 to 3Ah
- 5 to 10Ah
- 10 to 15Ah
- 16 to 30Ah
- 40 to 50Ah
- 50 to 100Ah
By Thickness :
- 6mm
- 7mm
- 8mm
- 9mm
- 10mm
- 11mm
- 12mm
By Rated Voltage :
- 6V
- 12V
- 24V
- 48V
- 60 to 72V
- 96V
By End User :
- Electric Vehicles
- Cell Phones
- Battery Powered Off-Road Vehicles
- Robotics, Energy Storage Systems
- Portable Electronic Devices
- Utility Meters
- Medical Measurements
- Portable Devices
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