The Lithium-ion Battery Market is expected to reach USD 64.75 billion in 2024 and grow at a CAGR of 14.46% to reach USD 127.23 billion by 2029. Samsung SDI, Panasonic Corporation, BYD Company, Contemporary Amperex Technology Co. Ltd (CATL) and Tesla Inc. are the major companies operating in this market.
The global lithium-ion battery market size was estimated at USD 54.4 billion in 2023 and is projected to register a compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. Automotive sector is expected to witness significant growth owing to the low cost of lithium-ion batteries.
Rising demand for substitutes, including sodium nickel chloride batteries, lithium-air flow batteries, lead acid batteries, and solid-state batteries, in electric vehicles, energy storage, and consumer electronics is expected to restrain the growth of the lithium-ion battery industry over the forecast period.
Geographically, the lithium-ion battery market share is divided into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. As per our findings, Asia Pacific dominates the market share during the forecast timeframe. China and Japan are considered the world's largest markets of electric vehicles.
The global lithium market size was estimated at USD 31.75 billion in 2023 and is expected to grow at a CAGR of 17.7% from 2024 to 2030. Vehicle electrification is projected to attract a significant volume of lithium-ion batteries, which is anticipated to drive market growth over the forecast period.
According to the National Blueprint for Lithium Batteries, China is projected to have 1,811 GWh of lithium cell production by 2025. China is the largest global EV market and dominates the supply chain for the manufacture of lithium-ion batteries, including the processing of minerals and raw materials.
The exponential growth in the electric vehicles market is estimated to provide a lucrative opportunity to the producers of lithium-ion batteries, which, in turn, is expected to drive the growth of the lithium market.
The Lithium-ion Battery Market is expected to reach USD 64.75 billion in 2024 and grow at a CAGR of 14.46% to reach USD 127.23 billion by 2029. Samsung SDI, Panasonic Corporation, BYD Company, Contemporary Amperex Technology Co. Ltd (CATL) and Tesla Inc. are the major companies operating in this market.
Lithium Market - By Type: Metal; Compound; Alloy; The metal segment held the largest share in the global lithium market revenue as the metal form is used in producing lithium-ion and metal batteries. Lithium batteries in metallic form as an anode are used and are disposable. These have a longer shelf life and higher charge density than standard ...
Powering demand for lithium batteries for use in different industries has doubled the price of lithium from 2016 to 2018. Meanwhile, the price of cobalt (other key raw material used in battery cathodes) has multiplied three times since …
The Global Lithium Market Report is Segmented by Type (Metal, Compound, and Alloy), Application (Battery, Grease, Air Treatment, Pharmaceuticals, Glass/Ceramic (Including Frits), Polymer, and Other Applications), End-user …
Lithium metal and hydroxide demand is predicted to grow faster than lithium carbonate equivalent (LCE) over the next decade. In 2018, the total demand was 0.29 million tons of LCE, growing to 0.72 million tons in 2022 …
Lithium-ion Battery Market Size & Trends. The global lithium-ion battery market size was estimated at USD 54.4 billion in 2023 and is projected to register a compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. Automotive sector is expected to witness significant growth owing to the low cost of lithium-ion batteries.
Increased Adoption of Batteries in Power Grid and Energy Storage Systems Play a Key Role in Market. Implementing strict government regulation to regulate rising pollution levels enhances the industries to use these batteries. The power industry is working to produce renewable energy and store it for the future.
For instance, the battery industry''s demand for lithium is expected to grow at an annual compound growth rate of 25 percent from 2020 to 2030, while demand for nickel could multiply as battery demand shifts to nickel …
The Global Lithium Market Report is Segmented by Type (Metal, Compound, and Alloy), Application (Battery, Grease, Air Treatment, Pharmaceuticals, Glass/Ceramic (Including Frits), Polymer, and Other Applications), End-user Industry (Industrial, Consumer Electronics, Energy Storage, Medical, Automotive, and Other End-user Industries), and ...
Compared to other batteries available on the market, lithium-ion batteries (LIBs) ... By allowing only safe SLB systems that adhere to relevant standards and regulations to enter the market, the overall acceptance of SLB applications in society is expected to increase. 3.5 Technical market entry barriers 3.5.1 Complexity of battery design and requirements "Not …
Lithium metal and hydroxide demand is predicted to grow faster than lithium carbonate equivalent (LCE) over the next decade. In 2018, the total demand was 0.29 million tons of LCE, growing to 0.72 million tons in 2022 (+25% per annum). The projected demand is expected to reach 3.06 million tons by 2030 (+20% per annum between 2022–30).
Vehicle electrification is projected to attract a significant volume of lithium-ion batteries, which is anticipated to drive market growth over the forecast period.
Essential for producing lithium-ion batteries, which power electric vehicles (EVs) and energy storage systems (ESS), lithium has earned the nickname "white gold." …
The global market for Lithium-ion batteries is expanding rapidly. We take a closer look at new value chain solutions that can help meet the growing demand.
Powering demand for lithium batteries for use in different industries has doubled the price of lithium from 2016 to 2018. Meanwhile, the price of cobalt (other key raw material used in battery cathodes) has multiplied three times since January 2016 …
Essential for producing lithium-ion batteries, which power electric vehicles (EVs) and energy storage systems (ESS), lithium has earned the nickname "white gold." However, the journey of lithium prices has been anything but stable, with supply chains heavily dependent on China and recent dips in EV adoption.
Reports Description. Rising demand for Consumer Electronics is Boosting the Demand for Lithium-Ion Battery Market.. According to Custom Market Insights (CMI), The Global Lithium-Ion Battery Market size was estimated at USD 42.5 billion in 2021 and is expected to reach USD 48.80 billion in 2022 and is anticipated to reach around USD 184.15 billion by 2030, growing at …
electronics. Lithium-ion (Li-ion) batteries are widely used in many other applications as well, from energy storage to air mobility. As battery content varies based on its active materials mix, and with new battery technologies entering the market, there are many uncertainties around how the battery market will affect future lithium demand. For ...
Vehicle electrification is projected to attract a significant volume of lithium-ion batteries, which is anticipated to drive market growth over the forecast period.
•Co-free alternatives as LFP are entering the market to decrease Co dependency and lower cost •On anode side a shift from pure graphite towards Si/C composites and pure Si anodes can be …
It is projected that between 2022 and 2030, the global demand for lithium-ion batteries will increase almost seven-fold, reaching 4.7 terawatt-hours in 2030. Much of this growth can be...
Lithium industry was valued at US$ 9.3 billion in 2022. A CAGR of 14.8% is forecast from 2023 to 2031, reaching US$ 32.2 billion. The lithium market is expected to benefit from the continued ...
Increased Adoption of Batteries in Power Grid and Energy Storage Systems Play a Key Role in Market. Implementing strict government regulation to regulate rising …
Lithium Market Size & Trends . The global lithium market size was estimated at USD 31.75 billion in 2023 and is expected to grow at a CAGR of 17.7% from 2024 to 2030. Vehicle electrification is projected to attract a significant volume of lithium-ion batteries, which is anticipated to drive market growth over the forecast period.The automotive application segment is expected to …
To further understand this growth, a report by Reuters stated that EV sales skyrocketed from less than 1% of the market share in 2010 to 54% of the market share in 2020. The market expansion is so considerable, that an estimated 84% of all lithium produced by 2025 will be consumed by batteries for EVs, ESS, and rechargeable batteries, indicating that supply …
•Co-free alternatives as LFP are entering the market to decrease Co dependency and lower cost •On anode side a shift from pure graphite towards Si/C composites and pure Si anodes can be observed, significantly increasing the energy density and leading to additional Li demand for pre-lithiation •Mass market entry for solid state technology ...
Lithium-ion Battery Market Size & Trends. The global lithium-ion battery market size was estimated at USD 54.4 billion in 2023 and is projected to register a compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. …
Over the past decade, China has come to dominate this critical industry. Across every stage of the value chain for current-generation lithium-ion battery technologies, from mineral extraction and processing to battery manufacturing, China''s share of the global market is 70–90 percent. 1 Japan and South Korea, once world leaders in battery technology and …
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