Lithium-ion Battery Market Report 2020-2025

(MENAFN - GetNews) According to IMARC group the global lithium Ion battery market is projected to reach around US$ 58.6 Billion by 2025, expanding at a CAGR of more than 10.8% during 2020-2025.

According to the latest report by IMARC Group, titled ' Lithium-ion Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025 , the global lithium-ion battery market reached a value of more than US$ 31.7 Billion in 2019, growing at a CAGR of 12% during 2011-2019. A lithium-ion battery, also known as a Li-ion battery (LIB), is a type of rechargeable battery in which lithium ions move from the anode to the cathode. Unlike nickel-cadmium batteries, lithium-ion batteries are able to endure more charge/discharge cycles and do not need to be discharged prior to recharging. Some of the other advantages offered by these batteries include lightweight, low maintenance, high energy density and minimal memory impact. Owing to these factors, lithium-ion batteries can be used for a wide range of applications ranging from automobiles to mobile devices and personal computers.