Lithium Cobalt Oxide (LCO) batteries, known for their high energy density and long cycle life, have become a cornerstone in the India lithium-ion battery market. As of 2023, these batteries captured approximately 36% of the global Lithium-Ion battery market share, highlighting their significant role in various electronic devices.
To summarize, lithium cobalt oxide batteries are only suitable for small devices such as cell phones and computers due to their limited lifespan and low specific power. For high-load applications such as electric automobiles and power bikes, they are inefficient.
Introduction Lithium cobalt oxide (LiCoO 2) has been widely studied as a cathode material for lithium ion secondary batteries since it has good capacity, high specific energy, good power rates, low self-discharge, and excellent cycle life . LiCoO 2 exhibits two forms viz. hexagonal and cubic structures.
In the Thailand lithium-ion battery market, several leading manufacturers have gained prominence. Panasonic Corporation is a notable player, renowned for its high-quality lithium-ion batteries used in various applications, from consumer electronics to electric vehicles (EVs).
The Thailand Lithium Ion Battery market has experienced rapid expansion, primarily attributed to the growing demand for portable electronics, electric vehicles, and renewable energy storage solutions.
Market Overview Thailand Battery Market was valued at USD 1.14 billion in 2022, and is predicted to reach USD 4.01 billion by 2030, with a CAGR of 17.0% from 2023 to 2030. A battery operates as a mechanism that stores energy and later releases it by transforming chemical energy into electrical energy.