Changes in Lithium-ion Technology Could Propel the Global Lithium-ion Battery Market by Major Strides

Published By : 22 Jan 2016 | Published By : QYRESEARCH

The global lithium-ion battery market is already one of the more rapidly-growing ones in the world. Exhibiting a CAGR of 14.4% between 2013 and 2019, this market is expected to be valued at US$33.11 bn by the end of 2019. This points to a rather obvious trend that lithium-ion batteries are growing in popularity as well as scope of use. But what exactly is causing this surge of market shares for this particular battery type?

What a Li-ion Battery is Made of:

In summary, lithium-ion batteries are the most efficient rechargeable batteries we have today. It contains lithium ions which travel from the anode to the cathode while discharging and then the other way while charging. Of the various shapes a lithium-ion battery can comes it, the most commonly used ones are cylindrical and prismatic. The global lithium-ion battery market finds an immense scope of use due to its advantages; the batteries do not drain out as fast as the others and also take shorter time recharge. The batteries are also relatively light in weight and are therefore perfect for consumer electronics, which is currently a rapidly growing market itself.

Modern Changes that Drive the Global Lithium-ion Battery Market

With these basics in mind, let’s take a look at ones of the major changes that have recently occurred in the global lithium-ion battery market, which the promise to put it in to forefront of the market for quite some time.

Self-heating Li-ion Batteries: One of the more detrimental factors to the performance of a lithium-ion battery is the difference in temperature between the battery and the external environment. While most of the advancements in lithium-ion technology have been in preventing their overheating, there is one new piece of development which allows for the heating up of a lithium-ion battery in extremely cold temperatures. This ensures that the battery does not die out due to the extreme temperatures.

Corvus Energy, a Canadian energy company, had recently reported that the long history of validation procedures for lithium-ion battery have shown a vast improvement in specifications of the batteries that they have been making.

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