The flat lithium-ion (Li-ion) battery market is set to experience significant growth over the next few years. According to industry expert Technavio, the market is expected to expand by USD 23.25 billion from 2023 to 2028, with a CAGR of 13.8% during the forecast period. Technavio’s research indicates that APAC will account for 43% of this growth, primarily due to the high demand for smartphones and tablets in countries like India, China, Japan, South Korea, and Thailand. Additionally, Australia, which has substantial lithium reserves, plays a significant role in lithium production and export.
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The flat lithium-ion (Li-ion) battery market is fragmented, featuring many global and regional players, including Bahco, DNK POWER Co. Ltd., EIT InnoEnergy SE, Hitachi Ltd., LiPol Battery Co. Ltd., and Lund Instrument Engineering Inc., among others. The global off-grid flat lithium-ion (Li-ion) battery market is projected to witness rapid growth during the forecast period due to the increased demand for smartphones, leading to intensified competition among companies.
For those interested in additional insights, the report also includes information on the different segments of the market and their impact in the coming years.
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(SOURCE: Technavio)
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