Europe's lithium Ion battery market is projected to grow at a CAGR of 15.9% between 2018 and 2024.
The report Europe Lithium Ion Battery Market 2018-2024, suggests government support for renewable energy and electric vehicle infrastructure projects will stimulate market growth.
The region's lithium ion battery market will further be driven by increased use of electric vehicles (EVs), smart portable electronics, and in increase in adoption of grid storage solutions.
The market will mature as a result of heavy investments in lithium ion battery manufacturing plants.
Germany is a major consumer of lithium ion batteries in the overall European market, followed by UK and France, owing to high penetration of smartphones, increasing installation of lithium ion based energy storage and rising demand for EVs.
However, Nordic countries are gaining share in lithium ion battery market owing to high usage of EVs particularly in Norway.
Leading companies mentioned in the report include Tesla and Panasonic.
The report provides market analysis based on the following:
• 5-25 Wh
• 48-95 Wh
• 15-99 KWh
• 100-250 KWh
• Above 300 KWh
• Electrolytic Solution
• Lithium Cobalt Oxide
• Lithium Manganese Oxide
• Lithium Iron Phosphate
• Consumer Electronics
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