Global markets for lithium batteries to reach USD 13.4 billion by 2018
Improved lithium batteries have allowed the commercialization of entire new classes of portable products, including the most popular laptop computers, cellular phones, and tablet computers. Further, the latest generation includes very large cells suitable for powering vehicles or storing significant amounts of utility power as well as very small thin-film cells capable of powering micro-electromechanical systems. Near-term growth in this market is being driven by increased research and development spending, stabilization of the consumer products market, and growing acceptance of electric and hybrid electric vehicles.
BCC Research provides an in-depth analysis of the global lithium battery markets through its report Lithium Batteries: Markets and Materials. According to the report, this market was valued at almost $6.5 billion at the wholesale level in 2008 and $11 billion in 2013. BCC Research projects the market to grow to $13.4 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 4% from 2013 to 2018.