Reports and Data's latest report predicts that the global lithium-ion battery market will reach a size of USD 113.89 billion in 2030 and register a revenue compound annual growth rate (CAGR) of 12.0% over the forecast period. The market revenue growth will be driven by an increase in demand for smartphones and other electronic devices, as well as the emergence of electric vehicles.
Furthermore, strict government regulations to control pollution levels will also contribute to the market revenue growth. For instance, stricter fuel economy and CO2 standards are driving the transition from internal combustion engine (ICE) vehicles to electric vehicles, resulting in a higher demand for lithium-ion battery technology.
Lithium-ion batteries are the preferred choice for use in smartphones and consumer electronic products due to their high electrochemical potential, higher energy density, long life cycle, and low maintenance requirements. They are also versatile and can be used in large-scale installations as well as small packs. As a result of these numerous advantages, the increasing usage and benefits of lithium-ion batteries will drive market revenue growth over the forecast period.
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Companies profiled in the market report are BYD Co. Ltd., Samsung SDI Co., Ltd., Contemporary Amperex Technology Co. Limited (CATL), Panasonic Corporation, GS Yuasa Corporation, Hitachi, Ltd., Exide Technologies, Saft, Wanxiang Group Corporation, and Lithium Werks B.V.
The report also highlights some key highlights, including the cathode segment accounting for the largest revenue share in 2020, and the lithium cobalt oxide (LCO) segment expected to account for the largest revenue share in the global lithium-ion battery market over the forecast period. The 10,000–60,000 mAh segment is expected to register a rapid revenue growth rate, and the high (above 36v) segment accounted for the largest revenue share in the global lithium-ion battery market in 2020. The automotive segment is expected to register a significant revenue growth rate, and the Asia Pacific region is expected to register the highest revenue share in the global lithium-ion battery market during the forecast period. Finally, the report profiles companies such as BYD Co. Ltd., Samsung SDI Co., Ltd., Contemporary Amperex Technology Co. Limited (CATL), and others in the market.
Notable Innovation of Lithium-Ion Battery Market
- The lithium-ion battery market has seen significant innovation and growth in recent years. Some notable innovations include the development of high-capacity batteries for electric vehicles, advancements in battery management systems to improve efficiency and safety, and the use of nanotechnology to enhance battery performance.
- Another area of innovation is the development of solid-state lithium-ion batteries, which use a solid electrolyte instead of a liquid one. This technology promises to improve safety, energy density, and charging times compared to traditional lithium-ion batteries.
- Additionally, the recycling of lithium-ion batteries has become an important innovation in the industry. Recycling helps to reduce the environmental impact of batteries and provides a sustainable source of raw materials for new batteries.
- Overall, the lithium-ion battery market is constantly evolving and advancing, with new technologies and applications being developed to meet the growing demand for energy storage in various industries.
For the purpose of this report, Reports and Data has segmented the global lithium-ion battery market based on components, product type, power type, voltage, industry, and region:
Components Outlook (Revenue, USD Billion; 2018-2030)
- Cathode
- Anode
- Electrolytic Solution
- Others
Product Type Outlook (Revenue, USD Billion; 2018-2030)
- Lithium Cobalt Oxide (LCO)
- Lithium Iron Phosphate (LFP)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
- Lithium Manganese Oxide (LMO)
- Lithium Titanate Oxide (LTO)
- Lithium Nickel Manganese Cobalt Oxide (LI-NMC)
Power Type Outlook (Revenue, USD Billion; 2018-2030)
- 0–3,000 mAh
- 3,000–10,000 mAh
- 10,000–60,000 mAh
- 60,000 mAh Above
Voltage Outlook (Revenue, USD Billion; 2018-2030)
- Low (Below 12V)
- Medium (12V – 36V)
- High (Above 36V)
Industry Outlook (Revenue, USD Billion; 2018-2030)
- Consumer Electronics
- Automotive
- Aerospace
- Marine
- Medical
- Industrial
- Power
- Telecommunication
- Others
Regional Outlook (Revenue, USD Billion; 2018-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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