The major driving force behind this market has been the material technology advancements that the scientists have made since the year 2000. These advancements have made this technology more accessible to electric vehicle companies, which prefer them for their high capacity and low weight. Increasing investments for R&D in lithium-air batteries by these electric vehicle companies have also given a boost to this market. The need for efficient batteries, demand for a decreasing carbon footprint, and the demand to decrease our dependence on fossil fuels are some of the factors that will influence the growth of this market in the future.
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High investments from leading energy companies.
Demand for renewable energy sources is increasing due to factors such as climate change.
High potential for commercial use in the coming years which makes the market very profitable for companies in the automotive sector.
Technical difficulties, such as making these batteries electrically rechargeable as most everyday applications require.
Patent filing process is very lengthy which is hampering technical progress in this field.
Corporate lobbying by leading petroleum companies to cut government funding for projects related to lithium-air batteries so that the petroleum industry flourishes.
The Global Lithium-Air Market can be segmented on the basis of:
1. Product: On the basis of product, the global lithium-air battery market is segmented into Nano Lithium Air Battery and Ordinary lithium-air battery segments.
2. Applications: On the basis of application, the global lithium-air battery market is segmented into Vehicles and Grid Backup.
On the basis of geography, the global lithium-air battery market is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
North America: The North American region is expected to see the highest initial demand followed by Europe.
Asia-Pacific: The Asia-Pacific region coupled with the Middle East and Latin America regions are envisioned to have massive growth opportunities in the future.
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PolyPlus Battery Company.
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