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.
Asia Pacific held the largest market share of over 47.0% in 2023. The market in Europe is expected to witness steady growth over the forecast period owing to the increasing use of li-ion batteries in various sectors including medical, aerospace & defense, automotive, energy storage, and data communication & telecom.
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.
Their potential is, however, yet to be reached. 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.
The Asia Pacific region to dominate the lithium-ion battery market during the forecast period. The region has been showing significant economic growth in recent years. China, Japan, India, and South Korea: these four countries dominate the Asia-Pacific region and the global economy. These countries are part of the G20 group.
Germany is the world’s leading market for energy storage systems as well as the development of renewable energies. Rapidly growing market for electric vehicles in Asia Pacific countries, such as India and China, is one of the major factors that is positively influencing the demand for Li-ion batteries.
Ten major challenges for sustainable lithium-ion batteries
Following the rapid expansion of electric vehicles (EVs), the market share of lithium-ion batteries (LIBs) has increased exponentially and is expected to continue growing, reaching 4.7 TWh by 2030 as projected by McKinsey. 1 As the energy grid transitions to renewables and heavy vehicles like trucks and buses increasingly rely on rechargeable …
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The lithium battery industry moves out of internal competition …
According to statistics from SNE, CATL''s overseas power battery market share in 2023 was 27.5%, an increase of 4.7% year-on-year. This is also directly reflected in performance. In 2023, CATL''s overseas business grew rapidly, with overseas revenue reaching 130.992 billion yuan, a year-on-year increase of 70.29%, accounting for 32.67% of total ...
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The Global Market for Sodium-ion Batteries Outlook In 2024
The sodium-ion battery (SIB) market has been rapidly gaining momentum in recent years, offering a promising and sustainable alternative to traditional lithium-ion batteries (LIBs). As we move into 2024, the SIB market is poised for significant growth, driven by several key factors, including lower raw material costs, improved sustainability, increased research and development efforts ...
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Top 17 Lithium-ion (Li-ion) Batteries Companies in the World
The lithium-ion battery market, valued at $54.4 billion in 2023, is experiencing rapid growth, with projections indicating a surge to $182.5 billion by 2030 and further expansion to $187.1 billion by 2032. This remarkable growth, at a compound annual growth rate (CAGR) of 14.2% to 20.3%, is fueled by several key factors. Increasing demand for battery-operated …
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Lithium-lon Forklift Batteries Market Analysis
The revenue generated by the global Lithium-lon Forklift Batteries market in 2021 was over USD 1,971.53 million and expected to generate revenue worth USD 3,254.61 million in 2028.
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The Global Lithium Battery Market: Growth and Trends
Novel types of lithium batteries are emerging every month, with lithium-iron-phosphate (LFP) batteries currently dominating the market. China is the leading manufacturer of LFP batteries, producing nearly 95 % of those installed in light-duty vehicles (LDVs).
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The Global Lithium Battery Market: Growth and Trends
Novel types of lithium batteries are emerging every month, with lithium-iron-phosphate (LFP) batteries currently dominating the market. China is the leading manufacturer of LFP batteries, producing nearly 95 % of those …
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Lithium-ion Battery Market Size & Trends
Asia Pacific held the largest market share of over 47.0% in 2023. The market in Europe is expected to witness steady growth over the forecast period owing to the increasing use of li-ion batteries in various sectors including medical, …
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Trends in electric vehicle batteries – Global EV Outlook 2024 ...
Rising EV battery demand is the greatest contributor to increasing demand for critical metals like lithium. Battery demand for lithium stood at around 140 kt in 2023, 85% of total lithium demand and up more than 30% compared to 2022; for cobalt, demand for batteries was up 15% at 150 kt, 70% of the total. To a lesser extent, battery demand ...
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Outlook for battery and energy demand – Global EV …
As EVs increasingly reach new markets, battery demand outside of today''s major markets is set to increase. In the STEPS, China, Europe and the United States account for just under 85% of the market in 2030 and just over 80% in 2035, …
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Lithium-ion Battery Market Size & Trends
Asia Pacific held the largest market share of over 47.0% in 2023. The market in Europe is expected to witness steady growth over the forecast period owing to the increasing use of li-ion batteries in various sectors including medical, aerospace & defense, automotive, energy storage, and data communication & telecom.
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Lithium-ion battery demand forecast for 2030 | McKinsey
The lithium-ion battery value chain is set to grow by over 30 percent annually from 2022-2030, in line with the rapid uptake of electric vehicles and other clean energy …
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Outlook for battery and energy demand – Global EV Outlook …
As EVs increasingly reach new markets, battery demand outside of today''s major markets is set to increase. In the STEPS, China, Europe and the United States account for just under 85% of the market in 2030 and just over 80% in 2035, down from 90% today. In the APS, nearly 25% of battery demand is outside today''s major markets in 2030 ...
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Lithium-ion batteries
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...
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Analyst: China likely to dominate sodium ion battery market
Of course, that doesn''t mean SiBs are soon to be ubiquitous. Siddiqi doesn''t think they''ll replace lithium ion batteries in most of our consumer electronics or electric cars, and will likely land in low-speed micro vehicles and other products. They''re also likely to generally replace lead acid batteries, he added.
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The lithium battery industry moves out of internal competition and ...
According to statistics from SNE, CATL''s overseas power battery market share in 2023 was 27.5%, an increase of 4.7% year-on-year. This is also directly reflected in …
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Going overseas is the starting point of a new cycle for lithium battery ...
The journey of domestic lithium battery companies to go overseas: low-cost > FTA country production + Chinese technology - > the global market. In the early stage, Hungary and Turkey were the main overseas destinations (Hungary has a planned production capacity of more than 215GWh in 2024). Then successively opened the production capacity ...
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Lithium-ion batteries
Forecast global lithium-ion battery market revenue 2025-2030, by segment. Forecast lithium-ion battery market revenue worldwide in 2025 and 2030, by segment (in billion U.S. dollars) Premium ...
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Lithium-ion battery demand forecast for 2030 | McKinsey
The lithium-ion battery value chain is set to grow by over 30 percent annually from 2022-2030, in line with the rapid uptake of electric vehicles and other clean energy technologies. The scaling of the value chain calls for a dramatic increase in the production, refining and recycling of key minerals, but more importantly, it must take place ...
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China''s lithium supply chains: Network evolution and resilience ...
In Fig. 1, China''s lithium supply chain emerges as a linchpin in the global lithium market, accounting for 80.61% of global lithium resource consumption in 2021—equivalent to 456.29 kt of LCE. Imports form a staggering 83.65% of China''s total lithium inflow, predominantly sourced from lithium ores, which constitute 65.67% of China''s comprehensive supply. The …
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Lithium-Ion Battery Market
According to the IEA (International Energy Agency), the demand for EV batteries will be 750 GWh in 2023, which is 40% up from 2022. This rising number of EV batteries has increased demand for...
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Research on the Technological Development of Lithium Ion Battery ...
The global rechargeable Lithium-Ion Batteries (LIBs) market was valued in 2020 around USD 40.5 billion and is expected to increase to about USD 92 billion by 2026 [1]. China dominates the LIB ...
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