- In February 2024, Panasonic Energy Co., Ltd., a part of the Panasonic Group, announced a long-term partnership with H&T Recharge, a key battery component producer, for the supply of lithium-ion battery cans in North America. This agreement aims to expand Panasonic's safe EV battery production
- In November 2023, Toshiba Corporation introduced a new lithium-ion battery with a cobalt-free, high-potential 5V cathode material, significantly reducing performance-degrading gas emissions from side reactions. This battery is designed for diverse applications, from power tools to electric vehicles
- In June 2023, Samsung SDI announced that it became the first lithium battery producer to receive carbon footprint labels from Carbon Trust. These labels measure greenhouse gas emissions throughout a product’s life cycle, covering production, raw materials, distribution, and disposal
- In September 2021, Toshiba Corporation, Sojitz Corporation, and CBMM signed a Joint Development Agreement (JDA) to commercialize next-generation lithium-ion batteries using niobium titanium oxide for anode material
- In May 2021, Daimler Truck AG and lithium-ion battery producer CATL expanded their partnership to support CO2-neutral electric trucking. CATL will supply lithium-ion battery packs for Daimler’s Mercedes-Benz eActros Longhaul electric truck, scheduled for series production in 2024.
Frequently Asked Questions
The market is segmented based on Segmentation, By Chemistry (Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Titanate (LTO), Nickel Manganese Cobalt Oxide (NMC), Nickel Cobalt Aluminum Oxide (NCA), and Lithium Manganese Oxide (LMO)), Component (Cathode, Anode, Separators, Electrolytes, Aluminum Foil, Copper Foil, and Others), Application (Industrial, Automotive, Consumer Electronics, and Energy Storage) – Industry Trends and Forecast to 2032
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The Global Lithium Ion Battery Market size was valued at USD 75.63 USD Billion in 2024.
The Global Lithium Ion Battery Market is projected to grow at a CAGR of 18% during the forecast period of 2025 to 2032.
The major players operating in the market include BYD, A123 Systems, Hitachi, Johnson Controls, LG Chem, Panasonic, Saft, Samsung SDI, Toshiba, GS Yuasa International.
The market report covers data from the 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.
