The global lithium-ion battery market refers to the widespread industry encompassing the production, distribution, and utilization of lithium-ion batteries on a worldwide scale. These batteries have become integral components in various applications, from consumer electronics to renewable energy storage systems. The global lithium-ion battery market is not only shaping the future of energy storage but also contributing significantly to the global push for sustainable and eco-friendly technologies.
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Data Bridge Market Research analyses that the Global Lithium Ion Battery Market which was USD 54.32 billion in 2022, is expected to reach USD 183 billion by 2030, and is expected to undergo a CAGR of 18% during the forecast period of 2023-2030. Governments globally are incentivizing the adoption of lithium-ion battery technologies through subsidies, tax incentives, and supportive regulations. These measures, aimed at promoting electric vehicles and renewable energy, encourage businesses and consumers to embrace sustainable energy solutions, driving the growth of the lithium-ion battery market.
Key Findings of the Study
Rising demand for electric vehicles (EVs) is expected to drive the market's growth rate
The surge in electric vehicle (EV) demand propels the lithium-ion battery market, driven by the automotive industry's pivot towards electric mobility. Lithium-ion batteries play a pivotal role in powering EVs, and the escalating demand for electric cars directly correlates with an increased need for these advanced batteries. As the automotive sector embraces electric propulsion, the lithium-ion battery market experiences substantial growth, positioning itself as a key enabler of the evolving transportation landscape.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Chemistry (LFP, LCO, LTO, NMC, NCA, LMO), Component (Cathode, Anode, Separators, Electrolytes, Aluminum Foil, Copper Foil, Others), Application (Industrial, Automotive, Consumer Electronics, Energy Storage)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, 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), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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BYD Co., Ltd.(China), A123 Systems LLC (U.S.), Hitachi, Ltd. (Japan), Johnson Controls (U.S.), LG Chem (South Korea), Panasonic Corp. (Japan), Saft (France), Samsung SDI Co., Ltd. (South Korea), Toshiba Corp. (Japan), GS Yuasa International Ltd. (Japa
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global lithium ion battery market is segmented on the basis of chemistry, component and application.
- On the basis of chemistry, the global lithium ion battery market is segmented into LFP, LCO, LTO, NMC, NCA, and LMO
- On the basis of component, the global lithium ion battery market is segmented into cathode, anode, separators, electrolytes, aluminum foil, copper foil, and others. The anode segment is expected to dominate the global lithium ion battery market with a 40.49% market share due to its non-plating properties and over-dimensioned capacity
The anode segment of component segment is ancitipated to dominate the global lithium ion battery market
Anode segment is expected to dominate the global lithium ion battery market with 40.49% market share due to its non-plating properties and over dimensioned capacity. These characteristics enhance performance and durability, making anodes a crucial component for sustained dominance in the evolving energy storage landscape.
- On the basis of application, the global lithium ion battery market is segmented into industrial, automotive, consumer electronics, and energy storage
Major Players
Data Bridge Market Research recognizes the following companies as the major global lithium ion battery market players in global lithium ion battery market are Hitachi, Ltd. (Japan), Johnson Controls (U.S.), LG Chem (South Korea), Panasonic Corp. (Japan), Saft (France), Samsung SDI Co., Ltd. (South Korea), Toshiba Corp. (Japan), GS Yuasa International Ltd. (Japan)
Market Developments
- In March 2023, Samsung SDI is set to feature prominently at InterBattery 2023, showcasing its cutting-edge battery technologies, notably all solid-state batteries and high-efficiency fast-charging. The exhibition will include displays of BMW i7 and Volvo FM Electric vehicles, emphasizing Samsung SDI's commitment to a sustainable future. The booth will spotlight diverse battery applications and introduce visitors to Samsung SDI's in-progress solid-state battery pilot line, underscoring the company's technological leadership in the ever-evolving battery industry
- In January 2023, Panasonic Industry Co., Ltd. forged a strategic alliance with ATCO Australia, marking a significant step in the latest renewable energy initiative. This partnership not only strengthens financial prospects for Panasonic but also promises positive implications for market growth. By combining their expertise, both companies aim to advance renewable energy solutions, contributing to the ongoing evolution of sustainable technologies and fostering a collaborative approach towards a greener future
- In 2022, Glencore forged a strategic partnership with Britishvolt, aiming to establish a world-leading battery recycling ecosystem in the UK. This partnership signifies a commitment to sustainable practices within the battery industry, leveraging Glencore's expertise in resource recovery and Britishvolt's capabilities in battery technology. The joint effort focuses on creating a comprehensive and environmentally responsible approach to recycling, aligning with the global push for circular economies and reducing the environmental impact of battery production and disposal
- In 2021, Contemporary Amperex Technology Co., Limited initiated a ground-breaking lithium-ion battery project in China, investing USD 1.1 billion. This battery production base is anticipated to catalyze the growth of a new energy cluster valued at 100 billion yuan in China's industrial landscape, contributing significantly to the nation's economic expansion. The project aligns with China's strategic push toward new energy solutions, positioning it as a key player in the global transition to sustainable and innovative technologies
Regional Analysis
Geographically, the countries covered in the global lithium ion battery market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, 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), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in global lithium ion battery market during the forecast period 2023-2030
North America dominates the global lithium-ion battery market due to its advanced technological infrastructure and extensive adoption of smart city initiatives. The region's prominence is further reinforced by the strong presence of major market players and a surge in research activities. As North America leads in embracing cutting-edge technologies and sustainability, it stands at the forefront of the lithium-ion battery market, shaping the trajectory of energy storage solutions in the region.
Asia-Pacific is estimated to be the fastest-growing region in the global lithium ion battery market for the forecast period 2023-2030
Asia-Pacific is expected to dominate the global lithium-ion battery market from 2023 to 2030. The region, driven by rapid urbanization, robust infrastructure development, and the integration of advanced technologies in countries such as China, Japan, and India, is poised for significant growth. The expanding automotive and consumer electronics industries in the region further contribute to the escalating demand for Lithium-ion battery solutions, solidifying Asia-Pacific's pivotal role in the global market landscape.
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