What is the global market size of Lithium-Ion Battery Market?

Global Lithium-Ion Battery Market size was valued at USD 41.9 billion in 2021 and is poised to grow from USD 49.36 billion in 2022 to USD 188.5 billion by 2030, at a CAGR of 18.18% during the forecast period (2023-2030)

Lithium-Ion Battery Market Size, Share, Growth Analysis, By Type (Lithium Nickel Manganese Cobalt, Lithium Iron Phosphate), By Material (Cathode material, Anode material), By Capacity (10,001 – 60,000 mAh, Above 60,000 mAh), By Voltage (Medium, High), By Region -Industry Forecast 2024-2031.

Report ID: SQMIG20D2153 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 100 | Figures: 74

Lithium-Ion Battery Market News

In March 2022, Reliance New Energy Limited (Reliance) is a subsidiary of Reliance Industries Ltd. They acquired Lithium Werks for $61 million USD, along with manufacturing facilities in China, and key business contacts.

In October 2022,Turtle & Hughes, one of the nation’s leading electrical and industrial distributors, today announced a strategic investment in Cadenza Innovation, a growth-stage company that has developed a patented technology platform – the ‘superCell’ – which is enabling a new generation of safe, high-performing, low-cost lithium-ion (Li-ion) batteries and energy storage solutions.

Lithium-Ion Battery Market Report Snapshots

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Global Lithium-Ion Battery Market size was valued at USD 47.2 billion in 2022 and is poised to grow from USD 53.95 billion in 2023 to USD 157.17 billion by 2031, growing at a CAGR of 14.30% during the forecast period (2024-2031).

Competition in the global Lithium-Ion Battery market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with Lithium-Ion Battery will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years. 'LG Energy Solution', 'Samsung SDI Co., Ltd.', 'Panasonic Holdings Corporation', 'Contemporary Amperex Technology Co., Limited', 'Panasonic Energy Corporation)', 'EVE Energy Co., Ltd.', 'GS Yuasa Corporation', 'Hitachi, Ltd.', 'Tesla, Inc.', 'EVE Energy Co., Ltd.', 'Farasis Energy, Inc.', 'Ipower Batteries Pvt Ltd.', 'SK Innovation', 'HEG – TACC', 'NextEra Energy, Inc.', 'Cadenza Innovation', 'Ipower Batteries Pvt Ltd.', 'Sila Nanotechnologies Inc.', 'SolarEdge Technologies Inc.', 'Battery Ventures'

Compared to internal combustion engine, electric vehicle have reduced the harmful impacts on the climate .Government all across the globe is proposing to the consumers to purchase electric vehicle because of the various initiatives of greener and population free mobility.Theses several initiatives and awareness among the consumers regarding the environment will drive the Lithium ion battery market.

The growth in the projects of renewable energy such as photovoltaic installation, nuclear power plants, wind energy projects for the interest towards maintaining the clean and green environment has led to the growth of lithium ion batteries.Hey. The major trend of using the lithium ion battery equipment in the medical sector is also supporting the growth of the market.

Globally, Asia Pacific is estimated to hold the highest global Lithium-Ion Battery market share. Main factors during this growth period are the presence of top market players, Rising environmental concerns which related to banning of conventional fossil fuel powered scooters to reduce emissions and others.

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Lithium-Ion Battery Market Size, Share, Growth Analysis, By Type (Lithium Nickel Manganese Cobalt, Lithium Iron Phosphate), By Material (Cathode material, Anode material), By Capacity (10,001 – 60,000 mAh, Above 60,000 mAh), By Voltage (Medium, High), By Region -Industry Forecast 2024-2031.

Lithium-Ion Battery Market News

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