Electronic cigarette lithium battery refers to the batteries used in the e-cigarettes as a source of power. The battery is an important component of the e-cigarettes. The most commonly used batteries are rechargeable lithium batteries. The lithium batteries are used to heat the e-liquid present in the e-cigarettes through the heating coils called atomizers to vaporize the liquid. The e-liquids present in the e-cigarettes come in different flavours such as menthol, peach, watermelon and bubble gum.
The electronic cigarette lithium battery market is expected to grow by a significant CAGR during the forecast period. The restriction of government on public smoking is expected to drive the market growth owing to the rise in demand for the e-cigarettes. The increase in the smoke-free laws and the growing use of the rechargeable lithium batteries in the e-cigarettes is driving the market growth. The growing concerns related to the e-cigarettes are expected to hamper the market growth in the coming years.
The easy availability and the growing popularity of the Mods e-cigarette devices are anticipated to further boost the market growth of the electronic cigarette lithium battery.
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Global Market Segmentation
The global electronic cigarette lithium battery market is segmented based on the product type, application, and region.
Based on the product type, the global market includes replaceable batteries and built-in batteries.
Depending on the application, the global electronic cigarette lithium battery market is subdivided into ego, mod, and cigalike. The mod segment is expected to occupy a larger share of the global market.
Global Regional Segmentation
The important region operating in the global market of electronic cigarette lithium battery are North America, Asia Pacific, South America, Europe, and the Middle East and Africa.
The North America region is further divided into the United States, Mexico, and Canada. The Asia Pacific region includes the countries of China, Korea, India, Japan, and Southeast Asia. The South America region includes Brazil, Columbia, and Argentina. The Europe region encompasses Germany, Russia, UK, Italy, and France. The Middle East and Africa Region include South Africa, Saudi Arabia, Egypt, UAE, and Nigeria.
Key Market Leaders
The competitive market is driving more and more market players towards the lithium battery industry. The key market leaders of the global electronic cigarette lithium battery market are Samsung SDI, Panasonic, EVE Energy, Great Power, Sony, AWT, LG Chem, Aspire, Fest, HGB, Mxjo, HIBATT, Fest, and Rongcheng. Other significant players in the global market are Vapor Hub International, Shenzhen FEST Technology, Haze Technologies, Tesla Ecig Group, AtmosRx, Innokin Technology Inc., Dr Dabber Inc., Joyetech, Shenzhen Smoore Technology Limited, and Shenzhen Mxjo Technology.
Latest Industry Trends
In August 2019, LG Chem, the leading battery maker of South Korea, introduces sustainability as a key evaluation factor while selecting the suppliers of the battery materials. This is an initiative towards promoting ethical purchase. The company is determined to value sustainability as much as the quality of their products. The move of the company is in line with the latest trend across the globe of sustainability and ethicality.
Continuous…
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