Market World Automotive Lithium-Ion Battery Market | Page 2

Li-ion batteries are swiftly replacing lead-acid batteries as these batteries are well suited for contemporary fuel
gauge applications. Additionally, Li-ion batteries offer greater safety to automobile users than the potentially
hazardous lead-acid batteries.
The global automotive Li-ion batteries market can be segmented on the basis of applications into Starting
Lighting Ignition (SLI), Idle Stop, and Hybrid & electric vehicles. The Hybrid and electric vehicles segment is
anticipated to witness high growth owing to escalating demand for Li-ion batteries in Battery Electric Vehicles
(BEVs), Plug-in Hybrid Electric Vehicles (PHEVs) and Hybrid Electric Vehicles (HEVs). Lithium-ion batteries are
relatively expensive; however, with appropriate price modeling the SLI segment is projected to witness high
growth. Enhanced battery performance and dynamics are anticipated to propel the demand in Idle Stop
segment. Automotive batteries are a common source of problems for users in cold regions. Automobile failures
owing to frozen electrolyte have created a high demand for Li-ion batteries. These batteries are designed to
operate well in freezing temperatures as low as -40°F. Low temperature operability has made these batteries
highly desirable in cold regions of North America and Europe.
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Countries from the European Union have stressed on the need of creating a sustainable environment and are
formulating and implementing strategies to minimizing the carbon footprint. Stringent rules and regulations in
countries such as Germany and the UK are instrumental in increasing the demand for automotive Li-ion
batteries. Strong presence of automobile manufacturers, focusing on safe and environment friendly batteries
are expected to impel growth in the industry. Robust upstream supply chain for Li-ion battery production and
commercialization is driving the industry growth in Asia Pacific regional market. Governments in Japan, China
and Korea are supporting market vendors to meet the aggressive goals for domestic production of Li-ion
batteries through tax rebates and other investment incentives to encourage the adoption of EVs amongst
consumers.
Japan’s Lithium-ion cluster is projected to grow owing to sustained investments in Li-ion technology. The
Japanese government is undertaking initiatives to boost private sector investments with R&D funding and low
cost capital for establishing manufacturing plants. However, lack of awareness among underdeveloped
countries may hinder the industry growth. Operational issues such as voltage drop and shorter shelf life are
further anticipated to drive down the growth opportunities. Moreover, recycling of these batteries is highly
complicated owing to Lithium’s property of being inherently unstable. Thermal runaway and venting may cause
fires, making them less desirable. Key recharged vendors dominating the automotive lithium-ion battery market
are A123 Systems LLC, Automotive Energy Supply Corporation, Boston-Power Inc., BYD Auto Co Ltd., E-One Moli