Market Summary:
The global Lithium-Ion Battery Market size was USD 50.37 Billion in 2022, and is expected to reach a value of USD 199.12 billion in 2032, and register a revenue CAGR of 16.5% during the forecast period. Revenue growth of the market is driven by factors such as rising demand for electric vehicles, growing adoption of renewable energy sources, and the rising demand for consumer electronics. Lithium-ion batteries have become an attractive option for various applications due to their high energy density, long cycle life, and low self-discharge rate.
The demand for electric vehicles has been growing steadily in recent years due to rising concerns about air pollution and the depletion of fossil fuels. Electric vehicles use lithium-ion batteries as a power source, which is raising the demand for these batteries. Moreover, governments across the globe are promoting the adoption of electric vehicles by offering subsidies and tax incentives to buyers, which is raising the demand for lithium-ion batteries.
Companies Profiled In The Market Report:
- Tesla, Inc.
- Samsung SDI Co. Ltd.
- LG Chem Ltd.
- Panasonic Corporation
- Contemporary Amperex Technology Co. Ltd. (CATL)
- BYD Company Ltd.
- A123 Systems LLC
- Johnson Controls International plc
- Toshiba Corporation
- Hitachi Chemical Co. Ltd.
- GS Yuasa International Ltd.
Segments covered in the report:
By Type Outlook:
- Lithium Cobalt Oxide
- Lithium Iron Phosphate
- Lithium Nickel Manganese Cobalt Oxide
- Lithium Titanate Oxide
By Application Outlook:
- Consumer Electronics
- Automotive
- Industrial
- Energy Storage Systems
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
