AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

SpendEdge Forecasts a Spend Growth of over USD 190 Billion for the Lithium Market

November 19, 2019
SpendEdge Forecasts a Spend Growth of over USD 190 Billion for the Lithium Market
SpendEdge Forecasts a Spend Growth of over USD 190 Billion for the Lithium Market

LONDON--(BUSINESS WIRE)--Nov 19, 2019--

SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Lithium Market - Procurement Intelligence Report.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191119005450/en/

Global Lithium Market Procurement Intelligence Report. (Graphic: Business Wire)

The automotive industry is experiencing a major surge in the sales of electronic vehicles which will act as one of the prominent growth drivers in the lithium market. Li-ion battery constitutes an integral part of the architecture of electronic vehicles which will create a substantial demand for lithium on a global scale. The growing preference for renewable sources of energy will create an exponential demand for Li-ion batteries that are extensively used in energy storage systems. This will drive the spend momentum in the lithium market at a CAGR of over 10% through 2024.

In terms of regional spend growth, Europe will make a major contribution towards the spend growth owing to the financial initiatives taken by the governments in countries such as France and Germany to boost the local production of batteries. This boost in production is being motivated by the increase in the frequency of manufacturing of electronic vehicles. Meanwhile, in the US, the launch of a series of electric cars will promote the demand for li-ion batteries which will have a positive impact on the spend growth in the lithium market.

Subscribe to our procurement platformand get regular and real-time updates on thousands of markets without any additional costs or commitment.

Key Findings in the Lithium Market:

Uncontrolled procurement spend and the lack of visibility of the same is hitting the buyer’s business where it hurts the most. Subscribe to our free web-based platform to get instant and real-time insights on the price trends and procurement strategies that will change your procurement outlook.

Other key topics covered in this report are:

Now buy one report and get a 50% discount on the second or, download the free sample of this lithium industry procurement intelligence report.

Free sample of reports you may also like:

About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal

View source version on businesswire.com:https://www.businesswire.com/news/home/20191119005450/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSULTING

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 11/19/2019 10:00 AM/DISC: 11/19/2019 10:01 AM

http://www.businesswire.com/news/home/20191119005450/en