Laura Wood, Senior Press E.S.The global Lithium Air Battery market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of xx% in the forecast period of 2020 to 2025 and will expected to reach USD xx million by 2025, from USD xx million in 2019. For instance, the University of Illinois at Chicago and the United States Department of Energy's (DOE) Argonne National Laboratory have produced a new design for a beyond-lithium-ion battery cell that runs on air over many charges and 750 discharge cycles.Ĥ.2 Market Size and Demand Forecast in USD billion, till 2027Ĥ.3 Comparative Analysis of Lithium-Air Battery and Lithium-Ion Battery TechnologiesĦ.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and AgreementsĦ.2 Strategies Adopted by Leading Playersįor more information about this report visit
This higher energy density of Lithium-air batteries is foreseen to lower the cost essential for developing energy storage systems that can be scaled for use with the grid. However, technological development and the ways to reduce the cost of batteries and make them more efficient will increase the demand for lithium-air batteries in the region. However, the cost of electric vehicles pursues to be more expensive than internal combustion engine (ICE) vehicles, mainly due to the additional cost of batteries. The increasing demand from consumers for a thin, smaller, and advanced performance featuring battery products catalyzes the application of lithium-air batteries in smart devices and laptops, computers, etc.Įlectric battery-powered vehicles in the United States emit lower global warming discharge than the median new gasoline-powered cars. The expected increase in the penetration of lithium-air batteries in consumer goods and electronic appliances such as smartphones, smart wearable, smart home appliances, etc., will open enormous opportunities for growth in the global lithium-air battery market in the region. North America held a significant share of the market in 2020. North America is Expected to Dominated the Market This is expected to enable the driving range of EVs to be equivalent to that of conventional vehicles.
Moreover, the Samsung Advanced Institute of Technology (SAIT) has been actively researching the next-generation LIB electrode materials and post-Lithium-ion battery systems, such as all-solid-state battery and Lithium-air battery technologies. Research conducted by MIT has shown that lithium-air and zinc-air batteries are known to be the most suitable alternatives for the next-generation secondary batteries for EV applications. Thus, the increase in the growth of electric vehicle stock will drive the demand for lithium-air batteries in the future. In addition, global electric vehicle stock reached 11.21 million units at the end of 2020, with China accounting significant share of 5.4 million units. According to International Energy Agency (IEA), electric car registrations increased by 41% in 2020, which is expected to drive the demand for lithium-air batteries in the future. In 2020, there were 10 million electric cars on the world's roads at the end of 2020, following a decade of rapid growth. announced the development of a lithium-air battery with an energy density of over 500Wh/kg, which is significantly higher than current lithium-ion batteries For Instance,in January 2022, Researchers at Japan's National Institute of Materials (NIMS) and Softbank Corp. As a result, the new and innovative lithium-air batteries have been gaining traction in the automotive industry because of high-performance features provided at a cheaper cost. They are, therefore, considered to be expensive in the manufacturing of an electric vehicle. The conventional lithium-ion batteries offer a driving range of approximately 100 miles on a single charging cycle. Several steps have been adopted, such as a significant reduction in the prices and availability of an increased range of EVs in the market. Additionally, governments worldwide are pushing for EVs to reach mass adoption. The need for reduced reliance on imported oil and emissions due to transportation has buoyed the development of electric vehicles (EVs). The lithium-air battery market is projected to grow at a CAGR of more than 5.5% during the forecast period.Īutomotive Segment Holds the Significant Share in The Market DUBLIN, March 03, 2022-( BUSINESS WIRE)-The "Lithium-Air Battery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to 's offering.
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