Product Code: GVR-1-68038-601-1
Lithium-ion Battery Market Growth & Trends:
The global lithium-ion battery market size was estimated at USD 182.5 billion in 2030 and is projected to register a compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. The market is expected to witness significant growth over the forecast period on account of the increasing consumption of rechargeable batteries in consumer electronics and a rise in the adoption of electric vehicles. The rising sales of electric vehicles, along with the expanding renewable energy sector, are expected to drive the market. The emergence of integrated charging stations, green power-generation capability, eMobility providers, battery manufacturers, and energy suppliers is anticipated to stimulate market growth in the coming years.
Increasing sales of electric vehicles in the U.S. owing to supportive federal policies, coupled with the presence of market players in the country, are expected to drive the demand for lithium-ion batteries in the U.S. over the forecast period. Favorable government policies for infrastructural developments at the domestic level through the National Infrastructural Plan (NIP) of the U.S. are expected to promote the growth of the market in the U.S. over the forecast period. Development of the automotive industry in Indonesia, Vietnam, Mexico, Thailand, and India is expected to drive the industry. The growing inclination toward pollution-free HEVs and EVs, along with technological developments, is expected to drive the lithium-ion battery demand over the forecast period. China is expected to witness high gains in light of energy storage technologies and favorable government support to promote investments in the manufacturing sector.
The growing number of portable consumer electronics that rely on batteries has led to the increased consumption of rechargeable batteries. Portable devices including smartphones, digital cameras, MP3 players, and laptops require rechargeable batteries to provide efficient and effective power. Battery technology is evolving continuously to meet the high performance and power density requirements of devices. High demand for LCO batteries in mobile phones, tablets, laptops, and cameras on account of their high energy density and high safety level is expected to augment the market growth over the forecast period. However, the relatively short life span of LCO batteries, coupled with low thermal stability and limited load capabilities (specific power), is likely to act as a market restraint.
Electric and hybrid electric vehicles are projected to be the key consumers of lithium-ion batteries in the coming years. Growing awareness among the masses regarding the benefits offered by battery-operated vehicles and increasing fossil fuel prices, particularly in Asia Pacific, Europe, and North America, are projected to contribute to the growth of the automotive application segment over the forecast period. COVID-19 has been a major restraint to the market owing to several factors including reducing operational costs by end-users, coupled with disruption in the availability of spare parts due to sluggish manufacturing activities and logistics issues.
Lithium-ion Battery Market Report Highlights:
- In 2022, the consumer electronics application segment held the largest revenue share of over 39.13%. Portable batteries are incorporated in portable devices and consumer electronic products. The applications of portable batteries include mobile phones, laptops, computers, tablets, and other wearable devices
- In 2022, the LCO product segment accounted for the largest revenue share of over 31.17%. High demand for LCO batteries in mobile phones, tablets, laptops, and cameras on account of their high energy density and high safety level is expected to augment the market growth over the forecast period
- The U.S. emerged as the largest market in North America in 2021. Increasing electric vehicle sales in the country owing to supportive federal policies, coupled with the presence of several players in the U.S. market, are expected to drive the demand for lithium-ion batteries
- In CSA, lithium-ion batteries are frequently used battery types for Electrical Energy Storage (EES) owing to applications including stand-alone systems with PV, emergency power supply systems, and battery systems for the mitigation of output fluctuations from wind and solar power
- In Brazil, the government is taking various initiatives to support the electric vehicle market by exempting annual car ownership tax and import tax on electric vehicles. This is expected to fuel the demand for lithium-ion batteries over the coming years
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Information Procurement
- 1.2.1 Purchased Database
- 1.2.2 GVR Internal Database
- 1.2.3 Secondary Source & Third-Party Perspectives
- 1.2.4 Primary Research
- 1.3 Information Analysis
- 1.3.1 Data analysis models
- 1.4 Market Formulation & Data Visualization
- 1.5 Data Validation & Publishing
- 1.6 Research Scope & Assumptions
- 1.7 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Lithium-ion Battery Market Variables, Trends, and Scope
- 3.1 Market Lineage Outlook
- 3.2 Market Penetration & Growth Prospects
- 3.3 Value Chain Analysis
- 3.4 Technology Overview
- 3.5 Regulatory Framework
- 3.6 Market Dynamics
- 3.6.1 Market Driver Analysis
- 3.6.3 Market Restraint analysis
- 3.6.3 Market Challenges
- 3.6.4 Opportunity Analysis
- 3.7 Business Environment Analysis
- 3.7.1 Porter's Five Forces
- 3.7.2 PESTEL Analysis
- 3.8 Impact of COVID-19 on Lithium-ion Battery Market
Chapter 4 Lithium-ion Battery Market: Product Estimates & Trend Analysis
- 4.1 Product Movement Analysis & Market Share, 2023 & 2030
- 4.2 Lithium Cobalt Oxide (LCO)
- 4.2.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
- 4.3 Lithium Iron Phosphate (LFP)
- 4.3.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
- 4.4 Lithium Nickel Cobalt Aluminum Oxide (NCA)
- 4.4.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
- 4.5 Lithium Manganese Oxide (LMO)
- 4.5.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
- 4.6 Lithium Nickel Manganese Cobalt
- 4.6.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
- 4.7 Lithium Titanate (LTO)
- 4.7.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
Chapter 5 Lithium-ion Battery Market: Application Estimates & Trend Analysis
- 5.1 Application Movement Analysis & Market Share, 2023 & 2030
- 5.2 Consumer Electronics
- 5.2.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
- 5.3 Automotive
- 5.3.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
- 5.4 Energy Storage
- 5.4.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
- 5.5 Industrial
- 5.5.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
- 5.6 Medical Devices
- 5.6.1 Market estimates and forecasts, 2018 - 2030 (USD Billion) (GWh)
Chapter 6 PV Inverter: Regional Estimates & Trend Analysis
- 6.1 Regional Market Snapshot
- 6.2 Market Share Analysis by Region, 2023 & 2030
- 6.3 North America
- 6.3.1 North America Lithium-ion Battery Market Estimates And Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.3.2 North America Lithium-ion Battery Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Billion) (GWh)
- 6.3.3 U.S.
- 6.3.3.1 U.S. Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.3.3.2 U.S. Lithium-ion Battery Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Billion) (GWh)
- 6.3.4 Canada
- 6.3.4.1 Canada. Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.3.4.2 Canada Lithium-ion Battery Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Billion) (GWh)
- 6.3.5. Mexico
- 6.3.5.1 Mexico Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.3.5.2 Mexico Lithium-ion Battery Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Billion) (GWh)
- 6.4 Europe
- 6.4.1 Europe Lithium-ion Battery Market Estimates and Forecasts, by Application , 2018 - 2030 (USD Billion) (GWh)
- 6.4.2 Europe Lithium-ion Battery Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Billion) (GWh)
- 6.4.3 U.K.
- 6.4.3 1 U.K. Lithium-ion Battery market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.4.3 2 U.K. Lithium-ion Battery market estimates and forecasts, BY Application, 2018 - 2030 (USD Billion) (GWh)
- 6.4.4 Russia
- 6.4.4 1 Russia Lithium-ion Battery Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.4.4 2 Russia Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.4.5 Germany
- 6.4.5.1 Germany Lithium-ion Battery market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.4.5.2 Germany Lithium-ion Battery market estimates and forecasts, BY Application, 2018 - 2030 (USD Billion) (GWh)
- 6.4.6 Spain
- 6.4.6.1 Spain Lithium-ion Battery Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.4.6.2 Spain Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.4.7 Italy
- 6.4.7.1 Italy Lithium-ion Battery market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.4.7.2 Italy Lithium-ion Battery market estimates and forecasts, BY Application, 2018 - 2030 (USD Billion) (GWh)
- 6.4.8 France
- 6.4.8.1 France Lithium-ion Battery Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.4.8.2 France Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.5 Asia Pacific
- 6.5.1 Asia Pacific Lithium-ion Battery Market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.5.2 Asia Pacific Lithium-ion Battery Market Estimates and Forecasts, by Applicationt, 2018 - 2030 (USD Billion) (GWh)
- 6.5.3 China
- 6.5.3.1 China Lithium-ion Battery Market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.5.3.2 China Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.5.4 India
- 6.5.4.1 India Lithium-ion Battery Market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.5.4.2 India WTE Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.5.5 Japan
- 6.5.5.1 Japan Lithium-ion Battery market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.5.5.2 Japan Lithium-ion Battery market estimates and forecasts, BY Application, 2018 - 2030 (USD Billion) (GWh)
- 6.5.6 Australia
- 6.5.6.1 Australia Lithium-ion Battery Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.5.6.2 Australia Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.5.7 South Korea
- 6.5.7 1 South Korea Lithium-ion Battery Market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.5.7 2 South Korea Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.6 Central & South America
- 6.6.1 Central & South America Lithium-ion Battery Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Billion) (GWh)
- 6.6.2 Central & South America Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.6.3 Brazil
- 6.6.3.1 Brazil Lithium-ion Battery market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.6.3.2 Brazil Lithium-ion Battery market estimates and forecasts, BY Application, 2018 - 2030 (USD Billion) (GWh)
- 6.6.4 Colombia
- 6.6.4.1 Colombia Lithium-ion Battery Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.6.4.2 Colombia Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.6.5 Paraguay
- 6.6.5.1 Paraguay Lithium-ion Battery market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.6.5.2 Paraguay Lithium-ion Battery market estimates and forecasts, BY Application, 2018 - 2030 (USD Billion) (GWh)
- 6.7 Middle East & Africa
- 6.7.1 Middle East & Africa Lithium-ion Battery Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Billion) (GWh)
- 6.7.2 Middle East & Africa Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.7.3 UAE
- 6.7.3.1 UAE Lithium-ion Battery Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.7.3.2 UAE Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.7.4. South Africa
- 6.7.4.1 South Africa Lithium-ion Battery market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.7.4.2 South Africa Lithium-ion Battery market estimates and forecasts, BY Application, 2018 - 2030 (USD Billion) (GWh)
- 6.7.5 Egypt
- 6.7.5.1 Egypt Lithium-ion Battery Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.7.5.2 Egypt Lithium-ion Battery Market Estimates and Forecasts, by Application, 2018 - 2030 (USD Billion) (GWh)
- 6.7.6 Saudi Arabia
- 6.7.6.1 Saudi ArabiaLithium-ion Battery market Estimates and Forecasts, by Product , 2018 - 2030 (USD Billion) (GWh)
- 6.7.6.2 Saudi ArabiaLithium-ion Battery market estimates and forecasts, BY Application, 2018 - 2030 (USD Billion) (GWh)
Chapter 7 Competitive & Vendor Landscape
- 7.1 Key Global Players & Recent Developments & Their Impact on the Industry
- 7.2 Vendor Landscape
- 7.3 Company Market Position Analysis
Chapter 8 Company Profiles
- 8.1 BYD Co., Ltd.
- 8.1.1 Company Overview
- 8.1.2 Financial Performance
- 8.1.3 Product Benchmarking
- 8.1.4 Strategic Initiatives
- 8.2 A123 Systems LLC
- 8.2.1 Company Overview
- 8.2.2 Financial Performance
- 8.2.3 Product Benchmarking
- 8.2.4 Strategic Initiatives
- 8.3 Hitachi, Ltd.
- 8.3.1 Company Overview
- 8.3.2 Financial Performance
- 8.3.3 Product Benchmarking
- 8.3.4 Strategic Initiatives
- 8.4 Johnson Controls
- 8.4.1 Company Overview
- 8.4.2 Financial Performance
- 8.4.3 Product Benchmarking
- 8.4.4 Strategic Initiatives
- 8.5 LG Chem
- 8.5.1 Company Overview
- 8.5.2 Financial Performance
- 8.5.3 Product Benchmarking
- 8.5.4 Strategic Initiatives
- 8.6 NEC Corporation
- 8.6.1 Company Overview
- 8.6.2 Financial Performance
- 8.6.3 Product Benchmarking
- 8.6.4 Strategic Initiatives
- 8.7 Panasonic Corporation
- 8.7.1 Company Overview
- 8.7.2 Financial Performance
- 8.7.3 Product Benchmarking
- 8.7.4 Strategic Initiatives
- 8.8 Saft
- 8.8.1 Company Overview
- 8.8.2 Financial Performance
- 8.8.3 Product Benchmarking
- 8.8.4 Strategic Initiatives
- 8.9 GS Yuasa International Ltd.
- 8.9.1 Company Overview
- 8.9.2 Financial Performance
- 8.9.3 Product Benchmarking
- 8.9.4 Strategic Initiatives
- 8.10 Samsung SDI Co., Ltd.
- 8.10.1 Company Overview
- 8.10.2 Financial Performance
- 8.10.3 Product Benchmarking
- 8.10.4 Strategic Initiatives
- 8.11 Narada Power Source Co., Ltd.
- 8.11.1 Company Overview
- 8.11.2 Financial Performance
- 8.11.3 Product Benchmarking
- 8.11.4 Strategic Initiatives
- 8.12 Toshiba Corp.
- 8.12.1 Company Overview
- 8.12.2 Financial Performance
- 8.12.3 Product Benchmarking
- 8.12.4 Strategic Initiatives