NEW YORK, NY -- The popularity of lithium-ion batteries is growing. A recent research report by Allied Market Research claims that this market is expected to generate revenue of about $46 billion by 2022, which represents CAGR of 10.8% for the forecasted period of 2016 - 2022. Lithium-ion batteries are researchable and are currently used in many of our portable devices. Recently however, the usage has become more wide spread. Oakridge Global Energy Solutions, Inc. , China BAK Battery Inc. FMC Corp , AES Corp , Albemarle Corporation
There are several reasons for the expected growth of the lithium-ion battery market. First lithium-ion batteries play a very important role in the automotive sector. Second, is continues growing demand for smartphones, tablets, and other electronic devices, and third is the increase in government regulations which are meant to reduce the increasing pollution levels, enhancing efficiency of lithium-ion batteries.
As an example of how wide the range of applications for lithium-ion batteries can be, we can look at companies like Oakridge Global Energy Solutions, Inc. (OTCQB: OGES). Oakridge Global Energy Solutions have several battery lines: the Pro Series for Golf Cars and the Patriot Series for the high-end hobby market, which have now been followed by the Freedom Series for living space power storage applications, and the Liberty Series of lightweight, highly powerful starter motor batteries for motorcycles, jet skis, snowmobiles, boats, cars and trucks. Oakridge Global Energy's battery systems comprised of large and small format prismatic lithium cells.
Last week Oakridge Global Energy Solutions, Inc. (OGES) announced the purchase of state-of-the-art Lithium-ion battery manufacturing equipment worth $1.2 million USD. Steve Barber, CEO and Executive Chairman of Oakridge, announced, "We have just purchased the most advanced electrode coating and drying machine available, one that is designed specifically for Lithium-ion battery manufacturing. This sophisticated equipment will initially be utilized by Oakridge for research and development applications, but eventually will also be used by tertiary education students at our newly created Oakridge Center for Advanced Energy Technology (C-Tech) located in Palm Bay, Florida."
China BAK Battery Inc. (NASDAQ: CBAK) through its subsidiaries, is engaged in the manufacture, commercialization and distribution of various standard and customized lithium ion (Li-ion) high power rechargeable batteries. It manufactures over five types of Li-ion rechargeable batteries, such as aluminum-case cell, cylindrical cell, lithium polymer cell and high-power lithium battery cell. Its customers include electric vehicle manufacturers, electric bicycle manufacturers and battery pack manufacturers.
FMC Corp (NYSE: FMC) is another company which is consistently innovating when it comes to lithium batteries, to find better ways to meet world's growing demand for longer lasting batteries for tablets, phones, power tools, EV cars and even power plants. The FMC Lithium segment manufactures lithium for use in a range of lithium products, which are used in energy storage, specialty polymers and chemical synthesis application.
AES Corp (NYSE: AES) is a good example of how companies in the ion battery market are working to reduce pollution. AES now in contract with Southern California Edison to provide the world's largest storage lithium-ion battery which will be capable of holding and delivering over 100 megawatts of power an hour for four hours. The goal is to replace the traditional gas plant and help southern California to keep peak loads in control. The plant will come on line in 2021.
When manufacturers benefit, so are suppliers. Albemarle Corporation (NYSE: ALB) in with its Performance Chemicals segment consists of three product categories: Lithium, Performance Catalyst Solutions and Bromine. Lithium is developed and sold to companies for a wide range of use.
According to the report, it is the Asia-Pacific region that is the largest revenue-generating region in this market, followed by North America. This is also expected to be the heist growing region, as demand for consumer electronics and in electric vehicles in China, Japan, and India is expected to grow faster in North America.