Government assistance for renewable energy and electric vehicle infrastructure projects in addition to increased utilization of electric vehicles, smart mobile electronics, and rising grid storage marketplace are a few of the key applications which have pushed the lithium ion battery market in France and are expected to play a substantial role during the prediction phase. Additionally, the current market is further expected to nurture on account of heavy investments on producing plants of lithium ion batteries, particularly focusing on electric vehicles and energy storage systems.
According to the research, France Lithium Ion Battery marketplace is projected to increase at a CAGR of 15.9% during 2018-24. Lithium ion batteries have emerged as the most favored power supply for a vast selection of consumer goods such as golf carts, forklift trucks, boats, RVs, solar panel banks, specialty electrical vehicles due to its high functionality and programmable features. Presently, consumer electronics applications accounted for important share in the overall France lithium ion battery marketplace, followed by industrial and automotive applications. But during the forecast period, automotive application is predicted to depict highest growth due to strict regulation imposed by authorities and initiatives resulting in increasing demand for electric vehicles.
France is a significant customer of lithium ion batteries from the general European market, owing to high penetration supplying lithium ion batteries for storage containers and increasing installation of lithium ion batteries based energy storage and rising demand for electric vehicles. France gaining share in lithium ion battery marketplace because of high usage of electric vehicles of golf carts.
The report completely covers the France lithium ion battery market by electricity capability, material, components, applications and countries. The report offers an unbiased and thorough analysis of the continuing tendencies, opportunities/high growth areas and market drivers that would help the stakeholders to device and align their marketplace strategies in line with the current and future market dynamics.
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