The Global Lithium Air Battery market experienced robust growth owing to the factor such as burgeoning penetration in the consumer electronics such as a smartwatch, wearables, smartphone and increasing integration in the electric vehicle. The rising inclination towards renewable source is also propelling the demand for devices optimal for energy storing. Moreover, the introduction of new and innovative lithium-air batteries, mounting preference for battery-driven cars along with escalating penetration in advanced industrial applications such as drones and robotics are projected to fuel the growth of the market over the forecast period.
According to MarkNtel Advisors’ research report “Global Lithium Air Battery Market Analysis, 2021”, the Global Lithium Air Battery market is anticipated to grow at a CAGR of 9.5% during 2021-26. Based on Type of Battery, Solid-State Li-air battery acquired a significant market in 2020. The deployment of solid-state li-air battery is surging in automotive and consumer electronics as it reduces the explosion and are non-flammable.
“Global Lithium Air Battery Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Lithium Air Battery providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America and Europe Acquired the Majority Market Share
North America and Europe acquired the majority market share in the Global Lithium Air Battery market in 2020. The introduction of stringent law to curb greenhouse emission has propelled the demand for electric vehicle in the region. Besides this, various norms launched by the government to raise the presence and number of EV in the coming years. The annual sales of EVs are anticipated to exceed 3.5 million vehicles in 2030 in US. Besides this, European Union also target 30 million electric cars by 2030. Hence, this is expected to bolster the demand for Lithium Air Battery in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Lithium Air Battery Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Lithium Air Battery market are Tesla Inc., Mullen Technologies, Poly Plus Battery Company (PPBC), Lithium Air Industries, Inc. etc.
Key questions answered in the study: