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Lithium Batteries Market to Reach $48.5 Billion by 2025
October 22, 2019 | Business WireEstimated reading time: 1 minute
The lithium batteries market worldwide is projected to grow by $48.5 billion by 2025, driven by a compounded growth of 13.2%
Lithium cobalt oxide (LCO), one of the segments analyzed and sized in this study, displays the potential to grow at over 11.7%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market.
Poised to reach over $9.8 billion by the year 2025, lithium cobalt oxide (LCO) will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the United States will maintain a 11.7% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$1.9 Billion to the region's size and clout in the next 5 to 6 years. Over $1.6 billion worth of projected demand in the region will come from the rest of the European markets. In Japan, lithium cobalt oxide (LCO) will reach a market size of $320.8 million by the close of the analysis period.
As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 16.7% over the next couple of years and add approximately $11.5 billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio.
Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
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