Global Lithium Ion Cell and Battery Pack Market to Record Sturdy Growth by 2025
The global lithium ion cell and battery pack market features a fairly fragmented competitive landscape, with the leading few companies accounting collectively for a significant share in the overall market. With rising demand from a number of new application areas such as hybrid and purely electric cars, a number of new players have forayed into the market in the past few years, making it further dynamic and competitive. To survive amid the rising competition, companies are envisioned to focus more on mergers and acquisitions to expand their product portfolios and geographical outreach. Some of the leading companies operating in the market are Toshiba Corporation, GS Yuasa Corporation, Samsung SDI, BYD Co. Ltd., and Panasonic Corporation. According to the report, the global lithium ion cell and battery pack market is expected to register an impressive CAGR of 12% from 2017 to 2025, rising to a revenue opportunity of US$88.92 bn by 2025. Asia Pacific Takes u...