Global Lithium-ion Battery Market Overview:
According to the latest report by IMARC Group, titled “Lithium-ion Battery Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027”, the global lithium-ion battery market reached a value of US$ 39.41 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 83.62 Billion by 2027, exhibiting at a CAGR of 13.62% during 2022-2027. A lithium-ion battery (LIB) is a rechargeable battery that uses lithium ions as the main electrolyte component. The lithium ions move from the positive electrode to the negative electrode upon charging and vice versa when discharged. As a result, these batteries exhibit high power density, excellent open-circuit voltage and low self-discharge rate.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Lithium-ion Battery Market Trends:
The global market is primarily driven by a substantial boost in the sales of consumer electronics, such as smartphones, laptops, digital cameras, gaming consoles, wherein lithium-ion batteries form an essential component. In line with this, the growing awareness regarding the continual depletion of fossil fuels and the rising adoption of electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) among the masses are also favourably impacting the market growth. In addition to this, governments of several countries are now offering lucrative benefits and subsidiaries to individuals in an attempt to promote the uptake EVs, which is providing a boost to the sales of premium rechargeable batteries, including LIBs. Furthermore, the increasing preference for solar grids and extensive research and development (R&D) activities are further propelling the market growth.
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Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the top 10 lithium-ion battery manufacturers being
Some of these key players include:
Breakup by Product Type:
Breakup by Power Capacity:
Breakup by Application:
Breakup by Region:
Key highlights of the Report:
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