According to
the report, global lithium air batteries market is expected to grow at a CAGR
of 12.3% between 2017 and 2022.
Lithium air
batteries with their exceedingly high theoretical specific energy have become a
core of research and development on future battery technologies. A lithium air
battery has a high energy density with 90% efficiency and can be recharged 2000
times more than lithium ion batteries. Lithium air batteries could hold more
than four times the energy per kilogram of lithium-ion batteries. To induce a
current, lithium air battery recycles reduction of oxygen at the cathode and
oxidation of lithium at the anode. In the process, to store charge the air
changes state from gaseous to solid as it binds with lithium and then converts
back from solid to gaseous as the charge is drained. At the time of low current
discharge, lithium air batteries function as a high capacity battery while at
the time of large current discharge, lithium batteries function as a high power
battery.
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Lithium air batteries
market is segmented on the basis of type and application. On the basis of type,
lithium air batteries market is segmented into conventional lithium air
batteries and nano lithium air batteries. Conventional lithium air batteries
are really lithium dry air batteries because lithium air batteries can’t handle
moisture or carbon dioxide. Conventional lithium air batteries held the largest
market share due to huge demand across the globe. Conventional lithium air
batteries could propel the clean energy industry. On the basis of application,
lithium air batteries market is segmented into electronics, electric cars, and
grid backup. The electronic segment is estimated to account for the largest
lithium air batteries market shares among all the applications.
Growing
demand for smart devices, increase in demand for electric vehicles and
development towards the enhancement of lithium air batteries are expected to
remain the major driving factors for the growth of lithium air batteries
market. The global lithium air batteries market offers new growth
opportunities, due to increase in growth of new technologies, adoption in new
applications due to declining prices of lithium air batteries. Restraining
factor for the growth of lithium air batteries market is an improvement to
battery capacity. Development of lithium sodium ion batteries and lithium
sulfur ion batteries are expected to act as substitutions for lithium air
batteries.
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Based on
regional segmentation, Europe was the most attractive market for the lithium
air batteries in 2016. It accounted for more than 30% share of the entire
market and further it is expected to witness significant growth in the near
future. For the time being, regions such as Europe and U.S tend to be saturated
in economic development for the growth of lithium air batteries market. The
countries of emerging economies such as China and India are on the rise for the
demand of lithium air batteries market. Among the Asia Pacific countries, the
average output growth rate of lithium air batteries market is in China. The
global lithium air batteries market strived to expand their operations in
developing regions.
Companies in
the lithium air batteries market are targeting on innovation and offering their
products at competitive prices. The researchers are hoping to go from proof of
theory to a commercial model in upcoming years.
Some of the major players involved in the global lithium air batteries
market include Mullen Technologies Inc., Poly Plus Battery Company, and Lithium
Air Industries among others.
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