Lithium ion (Li-ion) batteries are commonly used type of rechargeable batteries with twice the energy density of Nickel-Cadmium batteries and greater stability and safety. Lithium (Li) is the lightest of all metals, has the greatest electrochemical potential, and provides the largest energy density for weight.
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As compared to traditional battery technology, lithium-ion batteries charge faster, last longer, and have a higher power density for more battery life in a lighter package. Lithium ion battery consists of three main components namely positive and negative electrode separated by an extractor dipped in electrolyte. Negative electrode is normally an electron donor group that is electropositive in nature like lithium metal. Positive electrode is normally an electron acceptor which is strongly electronegative.
North America is the largest automotive Li-ion battery market, which is then followed by Europe and Asia Pacific. Asia Pacific, at present, leads the global market for lithium-ion batteries, accounting for maximum market share of overall market in 2015. This region is also estimated to expand at a significant pace in terms of demand and sales during the course of the forecast period. By value, the Asia Pacific’s lithium-ion battery market will register a significant CAGR from 2014 to 2025. The high growth rate is attributed to the emergence of China as a global hub for automobile industry and increasing demands of vehicles from some of the other Asian countries such as India, Indonesia, Malaysia, Thailand, and Philippines.
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The key players of the global market are A123 System LLC, Amperex Technology Ltd. (ATL), Blue Energy Co. Ltd., Johnson Controls Inc., Johnson Matthey, LG Chem Ltd., Panasonic Corp., SAFT, Toshiba Corp.
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