Rechargeable PLI (Poly Lithium Ion) batteries or advanced batteries are primarily used in consumer electronics such as laptops, digital cameras, as well as in electric vehicles (EV) and hybrid electric vehicles (HEV). They are more compact and efficient as compared to their conventional counterparts, which has led to growing product demand and market penetration in recent years.
The need for energy efficiency and environmentally friendly products has led to growing focus on electric vehicles. Hybrid electric vehicles entail the usage of a combustion engine and battery in tandem, and have witnessed a surge in demand. They also provide improved fuel economy and have fewer exhaust emissions. The battery in electric vehicles can be charged by plugging the vehicle into the electric grid at a public charging station or in a domestic setting. Since HEVs use fuel as well as electric power, the battery captures energy lost during braking by using the electric motor as a generator. In the case of plug-in HEVs (PHEV), the battery is charged by regenerative braking, as well as by connecting it to a power source. Growing sales of these vehicles and shifting consumer preference is expected to drive the rechargeable PLI batteries market on a global scale.
Increasing demand for consumer electronics is also a key driving force for the industry. Growing propensity to use devices like laptops has led to high product proliferation. In addition, trends such as bring your own device (BYOD) has resulted in demand for rechargeable PLI batteries. Form factors have been changing, and demand for netbooks and laptops exists in the personal as well as enterprise space, giving impetus to the market. Urbanization and growth in disposable income in developing countries of Asia Pacific is also expected to result in favorable industry outlook.
North America and Europe are key regional market segments on account of high awareness regarding the importance of energy efficiency. The major companies operating in the market include Sony, Nippon Chemicals, Samsung, Sanyo, Nikon, FMC Lithium and Siemens among others.
This report, by Grand View Research, takes a closer look at the rechargeable PLI batteries industry, providing a holistic perspective on market dynamics, trends, supply and demand. The report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key applications including automotive, consumer electronics, and others. The report also provides the same level of information for key regional markets.
This research report analyzes various factors which have been driving and inhibiting the global rechargeable PLI batteries market in the past. In addition, the report analyzes the impact of each driver and restraint on the market growth, which forms the base for market forecast. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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