GLOBAL LITHIUM ION CELL AND BATTERY PACK MARKET TO GAIN FROM SALES OF CONSUMER ELECTRONICS

Pythonholic18 Mar, 2021Business

A major factor to this growth would be owed to an increase in demand in hybrid and electric cars (plug-in vehicles), growing automation in most industries, and a rise in the use of electrically operated equipment. As applications in these cars and demand in smart devices is expected to rise, so is the demand for Lithium Ion Cell and Battery Pack. Due to this, a large number of competitors are seen entering the market, making it more dynamic than ever. The already fairly fragmented market, is therefore expected to be more competitive.