Report ID: SQMIG20D2153
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 Insights
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).
Lithium-Ion batteries are becoming popular since It has many advantages such as high energy density, low self discharge, low maintenance cell voltage, loads of characteristic, no requirement for priming, variety of types.
One issue with all the other rechargeable batteries, the self discharge rate.Lithium ion cell’s Self discharge is much lower than the other rechargeable sale such as NI cadmium and NI MH forms. Along with low rate of self discharge, another major advantage of lithium and batteries that they do not require maintenance to ensure their performance.The voltage provided by lithium ion cell is higher than that of the standard nickel, cadmium, nickel metal hydride and even standard than alkaline cells that helps in power management. However,lesser protection, battery management system, egging transportation cost and developing technologies are the major issues for the lithium ion battery market.
US Lithium-Ion Battery Market is poised to grow at a sustainable CAGR for the next forecast year.
Lithium-Ion Battery Market Report Snapshots
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