Global Lithium Ion Battery Market Trends, Analysis, Growth, And Forecast: 2018 To 2027

This Lithium-Ion Battery Market report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.

Our analysts have the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.

Lithium-Ion Battery Market Overview:

The lithium-Ion Battery Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.

Lithium-ion batteries are rechargeable batteries having a high energy density. It is mostly used in consumer electronics.

Lithium-ion batteries mainly consist of four components which include anode, cathode, electrolyte, and separator.

Lithium-ion batteries are used in various industrial applications, as it reduces greenhouse gas emissions.

The high energy efficiency of these batteries allows its use in various electric grid applications, which includes – improving the quality of energy harvested from wind, solar, geothermal, and other renewable sources, thus contributing to their more widespread use and building an energy-sustainable economy.

Increasing government funding in grid installations is in turn expected to create demand for lithium-ion batteries thereby, supporting the growth of the global lithium-ion battery market over the forecast period.

In addition, rising demand for smart devices and other electronic products across the globe is expected to drive the growth of the global lithium-ion battery market over the forecast period.

Various advantages of lithium-ion batteries over conventional batteries which include reduced weight and ease of handling are other factors expected to support the growth of the target market.

The market in the Asia Pacific dominates the global lithium-ion battery market in terms of revenue contribution as compared to that of markets in other regions.

Growing demand for lithium-ion batteries in various applications such as automotive, and consumer electronics especially in China, India, and Japan is expected to be a major factor supporting the growth of the market in the region over the forecast period.

Rising demand for electric vehicles due to favorable government policies in North America is expected to propel the growth of the target market in the region over the forecast period.

The target audience for the global lithium-ion battery market includes lithium-ion battery market manufacturers, the electronics industry, research institutes, government organizations, etc.

Global Lithium-Ion Battery Market Segmentation:

Global lithium-ion battery market segmentation, by product type:

• Lithium cobalt oxide (LCO)
• Lithium iron phosphate (LFP)
• Lithium Nickel Cobalt Aluminium Oxide (NCA)
• Lithium Manganese Oxide (LMO)
• Lithium Titanate (LTO)
• Lithium Nickel Manganese Cobalt (NMC)

Global lithium-ion battery market segmentation, by application:

• Consumer electronics
• Automotive
• Energy storage systems
• Industrial
• Others

Global lithium-ion battery market segmentation, by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa