Fast Market Research announces the availability of the new TechNavio report, "Global Li-Ion Battery Market for Power Tool 2015-2019", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 09/01/2015 -- Li-ion batteries are mainly used in devices such as power tools, and handheld devices owing to their high energy density and rechargeable properties. There are several types of power tools such as engine-driven power, electric power, and pneumatic power tools. Electric power tools works on both electric and battery source of power. Currently, most companies are manufacturing power tools that operate on Li-ion batteries as it provides high power capability despite its compact size and reduces the overall weight of power tool. Power tools are can be used for various purposes such as screw driving, drilling, chiseling, shaping, routing, sanding, buffing, polishing, and leveling.
Get More Details on this Report and a Full Table of Contents at Global Li-Ion Battery Market for Power Tool 2015-2019
In addition to being used in the residential sector, power tools are adopted by several companies across automotive, infrastructure, construction, woodworking, aerospace, and electrical and electronics industries.
Technavio forecasts the global Li-ion battery market for power tool to grow at a CAGR of 9.3% during 2014-2019.
Commenting on the report, an analyst from Technavio's team said, "One major trend in this market is the Increased Competition among Chinese Manufacturers. In the last few years, there has been a rapid increase in the competition among the vendors in the Li-ion battery operated power tools market. The increased competition leads to a decrease in the overall price of Li-ion power tools. Consequently, there is an increase in price wars among the players in the market. "
According to the report, one key driver of this market is the higher Storage Capacity. The storage capacity of Li-ion powered batteries for power tools is much higher than that of Ni-Cd/Ni-MH with the same power rating. The major difference between Ni-Cd, Ni-MH, and Li-ion batteries is the storage capacity, which is expressed in terms of energy per unit weight (Wh/kg).
Further, the report states that one of the major challenges is the restrictions on Lithium Content during Shipment of Li-ion Batteries. OLED is a niche and rapidly growing market. There are restrictions on the shipment of lithium, a major raw material used for manufacturing Li-ion batteries, on a per unit basis.
The key players in the Global Li-Ion Battery Market for Power Tool are A123 Systems, Hitachi, Johnson Matthey Battery Systems, LG Chem, Panasonic, Samsung SDI, and Sony while other prominent vendors include SAFT Batteries, BYD, Coslight, Tianjin Lishen Battery, Toshiba, and Valence Technology.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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