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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Lithium-Ion Battery Market Outlook

The global lithium-ion battery market attained a value of USD 42.90 billion in 2023. The market is further anticipated to grow at a healthy CAGR of 10.8% during the forecast period of 2024-2032 to reach USD 107.67 billion by 2032.

Global Lithium-ion Battery Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 42.90
Market Size 2032 USD Billion 107.67
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 10.8%
CAGR 2024-2032 - Market by Region Asia Pacific 12.4%
CAGR 2024-2032 - Market by Country India 13.1%
CAGR 2024-2032 - Market by Country China 11.9%
CAGR 2024-2032 - Market by Product Type Lithium Nickel Manganese Cobalt 12.6%
CAGR 2024-2032 - Market by Application Electric Vehicles 12.1%
Market Share by Country 2023 Germany 4.6%

Global Lithium-Ion Battery Market

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On the basis of the product types, the lithium cobalt oxide battery is estimated to have the largest market share in 2020 as it has a high specific energy, which makes it suitable to use in various electronic devices. Based on the power capacity, the batteries with a capacity between 0 to 3000mAh accounted for the significant market share. The batteries are widely used in consumer electronics such as digital cameras and camcorders, mobile phones, and handheld gaming consoles.

Based on the application, the consumer electronics segment is likely to experience a robust growth in the lithium-ion battery market owing to the demand for safe and inexpensive batteries with a higher energy density. Regionally, the Asia Pacific is estimated to dominate the global lithium-ion battery market in 2020. The regional growth is accredited to the presence of prominent original equipment manufacturers (OEMs) of batteries in the region.

Properties and Applications

A lithium-ion battery (LIB) is a rechargeable battery having a high energy density. Li-ion battery comprises of three components that include the anode, cathode, and an electrolyte. These batteries are relatively lighter than other rechargeable variants of the same size, require low maintenance, and have a much lower self-discharge rate than nickel-cadmium batteries. Since LIBs do not require complete discharge before recharging; hence, these batteries are used in numerous devices which consume more energy such as watches, mobile devices, cameras, pacemakers, and personal computers. On account of the aforementioned factors, lithium-ion batteries are considered ideal for modern fuel gauge applications.

Global Lithium-Ion Battery Market By Application

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The major product types in the global lithium-ion battery market are:

  • Lithium Cobalt Oxide
  • Lithium Iron Phosphate
  • Lithium Nickel Manganese Cobalt
  • Lithium Manganese Oxide
  • Others

The market can be broadly segregated on the basis of its power capacity into:

  • 0 to 3000mAh
  • 3000mAh to 10000mAh
  • 10000mAh to 60000mAh
  • More than 60000mAh 

Based on the applications, the global lithium-ion battery market is fragmented into:

  • Consumer Electronics
  • Electric Vehicles
  • Energy Storage
  • Others

The EMR report looks into the regional markets in the global lithium-ion battery market like North America, the Asia Pacific, Europe, the Middle East and Africa, and Latin America.

Global Lithium-Ion Battery Market By Region

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CAGR 2024-2032 - Market by Country
India 13.1%
China 11.9%
Canada 10.1%
UK 9.9%
Italy 7.6%
USA XX%
Germany XX%
France XX%
Japan 7.4%
Australia XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%

Market Analysis

The growing internet penetration and rising purchasing power of users, especially across the emerging economies, has resulted in increased sales of portable electronic devices such as mobiles and laptops. In addition, numerous advantages offered by lithium-ion batteries are likely to strengthen the growth of the lithium-ion battery market. The rising awareness amongst the users regarding the reduced greenhouse gas emissions associated with the usage of electric vehicles enables the consumers to shift from traditional automobiles to electric vehicles. Moreover, increasing fluctuations in the demand and supply for electricity have further bolstered the demand for LIBs batteries in energy storing devices. Furthermore, stringent government regulations for a pollution-free environment are positively influencing the lithium-ion battery market growth. 

However, the industry is witnessing fluctuations in the logistics cost of Li-ion batteries due to changes in the regulatory framework. The various requirements, prohibitions, ban on the transportation of Li-ion batteries is projected to restrain the market growth up to some extent.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global lithium-ion battery market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Contemporary Amperex Technology Co., Limited (CTL)
  • LG Energy Solution
  • Panasonic Corporation
  • BYD Company Ltd.
  • Samsung SDI Co., Ltd.
  • SK Innovation Co., Ltd.
  • CALB-CALB Co., Ltd. (CALB)
  • Shenzhen Grepow Battery Co., Ltd.
  • Toshiba Corporation
  • A123 Systems LLC
  • ENVISION AESC GROUP LTD
  • Tianjin Lishen Battery Joint-Stock Co., Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Power Capacity
  • Application
  • Region
Breakup by Product Type
  • Lithium Cobalt Oxide
  • Lithium Iron Phosphate
  • Lithium Nickel Manganese Cobalt
  • Lithium Manganese Oxide
  • Others
Breakup by Power Capacity
  • 0 to 3000mAh
  • 3000mAh to 10000mAh
  • 10000mAh to 60000mAh
  • More than 60000mAh 
Breakup by Application
  • Consumer Electronics
  • Electric Vehicles
  • Energy Storage
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Contemporary Amperex Technology Co., Limited (CATL)
  • LG Energy Solution
  • Panasonic Corporation
  • BYD Company Ltd.
  • Samsung SDI Co., Ltd.
  • SK Innovation Co., Ltd.
  • CALB-CALB Co., Ltd. (CALB)
  • Shenzhen Grepow Battery Co., Ltd.
  • Toshiba Corporation
  • A123 Systems LLC
  • ENVISION AESC GROUP LTD
  • Tianjin Lishen Battery Joint-Stock Co., Ltd.
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The global lithium-ion battery market reached a value of USD 42.90 billion in 2023.

The market is projected to grow at a CAGR of nearly 10.8% in the forecast period of 2024-2032.

The market is estimated to reach a value of about USD 107.67 billion by 2032.

The major drivers of the market include rising disposable incomes, increasing population, numerous advantages offered by lithium-ion batteries, and the rising awareness amongst the consumers.

The stringent regulations of various governments for a pollution-free environment and growing internet penetration are expected to be  key trends guiding the growth of the market.

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.

Lithium cobalt oxide, lithium iron phosphate, lithium nickel manganese cobalt, and lithium manganese oxide are the types of the product in the market.

The leading power capacities of the lithium-ion battery in the market are 0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh, and more than 60000mAh.

The consumer electronics, electric vehicles, and energy storage among other are the various application segments in the market.

The leading players in the global lithium-ion battery market are Contemporary Amperex Technology Co., Limited (CATL), LG Energy Solution, Panasonic Corporation, BYD Company Ltd., Samsung SDI Co., Ltd., SK Innovation Co., Ltd., CALB-CALB Co., Ltd. (CALB), Shenzhen Grepow Battery Co., Ltd., Toshiba Corporation, A123 Systems LLC, ENVISION AESC GROUP Ltd, and Tianjin Lishen Battery Joint-Stock Co., Ltd., among others.

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C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

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