Selbyville, Delaware According to Market Study Report, Lithium Mining Market provides a comprehensive analysis of the Lithium Mining market segments, including their dynamics, size, growth, competitive landscape, and emerging opportunities of industry. This report also provides market landscape and market share information in the Lithium Mining market.
Lithium mining is a process primarily utilized for acquiring the metal from a variety of sources such as brines, and hard rocks. It is the lightweight metal and solid component found in nature. Lithium possess various exceptional properties, such as thermal resistance, high energy density, longer stability, and minimal maintenance thus, making it ideal to use in wide range of applications, that includes battery energy storage, grease, glass and many more.
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The global demand for lithium is rapidly growing and is especially driven by increased usage of lithium in novel consumer electronic battery technologies. Owing to this factor, the market is poised to grow at significant rate in the forthcoming years. Further, rise in demand for lithium storage batteries in electric vehicles, increasing usage in air regeneration applications, and growing consumption of reduced weight metal in smartphones & laptops are the few factors responsible for high CAGR of the market over the forecast period. For instance, as per the Edison Electric Institute, it is estimated that global electric vehicles sales were registered about 312,000 in Q1 2018, an increase of 58% as compared to Q1 2017. Similarly, in the United States, the total number of electric vehicles on the road is about 8,90,000 in 2018, up from number of electric vehicles of almost 6,00,000 in 2017. This, in turn, is projected to strengthen the demand for lithium mining around the world.
However, the outbreak of COVID-19 puts uncertainty on every single sector of economy, and lithium mining industry is also affected. . Several countries are still under lockdown as per the government order because of the widespread of novel coronavirus, due to which the production is reduced and demand for lithium is declined as supply is disrupting. Though, the market growth is being affected negatively in the recent year. In addition, high capital investment and health consequences, such as pulmonary edema etc. is being consider as a major constraining factor to the market growth over the forecast period of 2020-2026.
The regional analysis of global Lithium Mining market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the growing adoption of lightweight metal in batteries, grease etc., along with increasing penetration of electric vehicles due to the favorable government efforts in this region. Whereas, North America is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to rise in demand for lithium in the end-use industries located in the region.
Major market player included in this report are:
FMC Lithium Corporation
Tianqi Lithium Corporation
Jiangxi Ganfeng Lithium Co., Ltd.
MGX Minerals Inc
Galaxy Resources Limited
Wealth Minerals Ltd
Exide Industries Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Air Conditioning Equipment
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Lithium Mining Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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