Lithium-Ion Battery Market size was valued at USD 50.57 Billion in 2022 and is projected to reach USD 187.89 Billion by 2030, growing at a CAGR of 15.70% from 2023 to 2030.
Rechargeable lithium-ion batteries are a modern battery technology that heavily relies on lithium ions in its electrochemistry. When compared to other batteries, the Li-ion battery has the ability to have a very high voltage and charge storage per unit mass and unit volume. Low self-discharge, high energy density, and a prolonged lifetime with faster charging are characteristics of lithium-ion batteries. It is frequently used in electronic consumer products including computers, PDAs, iPods, cell phones, as well as in the automotive, military, and aerospace industries. All electronic devices use the rechargeable battery known as lithium-ion. The segment of smartphones, tablets, and PCs is anticipated to dominate the market for all electronic devices.
Its widespread use in the production of smartphones and other smart gadgets as well as in the automotive and consumer electronics industries is partly owing to its small size (third only to hydrogen and helium in terms of density). Power tools and other industrial applications benefit from its strong power capability. The demand for batteries with high power capacity to enable devices to run for long periods of time while providing an optimal device experience is projected to be driven by the expanding markets for consumer electronics and smartphones.
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Self-discharge is also far lower than that of nickel-based batteries. When brand-new, lithium-ion batteries don’t require extensive priming. Lithium-ion batteries are low maintenance and can withstand hundreds of charge/discharge cycles. Due to their appealing qualities including high energy efficiency, long life cycles, high energy densities, and high power densities, lithium-ion batteries are currently the most ideal energy storage solution for EVs. Because lithium-ion batteries have higher energy densities than nickel-metal hydride or lead-acid batteries, their size can be reduced while maintaining the same amount of storage. Nissan’s lithium-ion battery technology makes use of components that enable the storage of lithium ions at a higher density, hence extending range.
Global Lithium-Ion Battery Market Overview
Additionally, self-discharge is considerably less than in nickel-based batteries. Lithium-ion batteries don’t need a lot of priming when they’re brand-new. Low-maintenance lithium-ion batteries can sustain hundreds of charge/discharge cycles. Lithium-ion batteries are currently the best energy storage option for EVs because to their desirable characteristics, which include great energy efficiency, lengthy life cycles, high energy densities, and high power densities. Lithium-ion batteries can be smaller while yet storing the same amount of power since they have higher energy densities than lead-acid or nickel-metal hydride batteries. Nissan’s lithium-ion battery technology uses parts that allow for better density lithium ion storage, which increases range.
Market Segmentation
Global Lithium Ion Battery Market: Major Players
VARTA Storage
Saft Groupe
LG Chem
GS Yuasa
Panasonic
Samsung SDI
Toshiba
Johnson Controls
CALB
Hitachi
Farasis Energy
BYD Company
Sila Nanotechnologies
Lithium Werks
BAK Group
Global Lithium Ion Battery Market: Types
Lithium Cobalt Oxide
Lithium Manganese Oxide
Ferrous Phosphate Lithium
Lithium Nickel Manganese Cobalt Oxide (NMC)
Global Lithium Ion Battery Market: Applications
Electric Vehicles
Consumer Electronics
Energy Storage
Medical
Others
Global Lithium Ion Battery Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Lithium Ion Battery market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
