Lithium-Ion Battery Sales To Boom in Asia-Pacific and North America in Coming Years
With the increasing adoption of electric vehicles (EVs), on account of the rapid environmental deterioration and fluctuating oil prices, the demand for lithium-ion batteries is soaring all over the world. In addition, the governments of many countries are launching initiatives for augmenting the deployment of EVs in order to mitigate the escalating air pollution levels, which is also boosting the demand for lithium-ion batteries . According to the Global EV Outlook 2018 report published by the International Energy Agency (IEA), the sales of electric cars reached 3.1 million units in 2017. This represented an increment of 57% from 2016 to 2017. Apart from this factor, the surging energy density of lithium-ion batteries is also creating immense growth opportunities for lithium-ion battery manufacturing companies across the world. Moreover, it is fueling the development of long-lasting and technologically advanced batteries. Many players operating in the lithium-ion battery market are foc...