The increasing demand of energy-efficient, safe, and low-cost batteries is the key factor driving the growth of the lithium ion battery market. The market was valued at USD 23.51 Billion in 2015 and is expected to grow at a CAGR of 16.6% between 2016 and 2022. The base year considered for the study is 2015 and the forecast period is between 2016 and 2022.

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The objective of the report is to provide a detailed analysis of the lithium ion battery on the basis of type, power capacity, industry, and geography. The report provides detailed information regarding the major factors influencing the growth of the market. The report also provides a detailed overview of the value chain in the market and analyzes the market trends with Porter’s five forces.

The major players involved in the lithium ion battery market are LG Chem Ltd. (South Korea), Panasonic Corporation (Japan), Samsung SDI Co., Ltd. (South Korea), BYD Co. Ltd. (China), BAK Group (China), A123 Systems, LLC. (U.S.), GS Yuasa Corporation (Japan), Hitachi, Ltd. (Japan), Johnson Controls Inc. (U.S.), Saft Groupe S.A. (France), Toshiba Corporation (Japan), and Valence Technology Inc. (U.S.).

The automobile industry in Europe is strategic industry with the leanest production processes and optimized use of energy for manufacturing. Increasing market share of EV in Europe is prominently supporting the adoption of lithium ion batteries. Increasing funding from the government is supporting the adoption of lithium ion batteries in electric cars. GREENLION is a project funded by EU for manufacturing cheaper and dependable lithium ion batteries for electric cars. These are some of the factors contributing to the growth of the lithium ion battery market in Europe.

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