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Report Overview
The global lithium-ion battery market attained a value of USD 42.90 Billion in 2024. The market is further anticipated to grow at a healthy CAGR of 10.80% during the forecast period of 2025-2034 to reach USD 119.63 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
Compound Annual Growth Rate
Value in USD Billion
10.8%
2025-2034
Lithium-ion Battery Market Outlook
*this image is indicative*
| Global Lithium-ion Battery Market Report Summary | Description | Value |
| Base Year | USD Billion | 2024 |
| Historical Period | USD Billion | 2018-2024 |
| Forecast Period | USD Billion | 2025-2034 |
| Market Size 2024 | USD Billion | 42.90 |
| Market Size 2034 | USD Billion | 119.63 |
| CAGR 2018-2024 | Percentage | XX% |
| CAGR 2025-2034 | Percentage | 10.80% |
| CAGR 2025-2034 - Market by Region | Asia Pacific | 12.4% |
| CAGR 2025-2034 - Market by Country | India | 13.1% |
| CAGR 2025-2034 - Market by Country | China | 11.9% |
| CAGR 2025-2034 - Market by Product Type | Lithium Nickel Manganese Cobalt | 12.6% |
| CAGR 2025-2034 - Market by Application | Electric Vehicles | 12.1% |
| Market Share by Country 2024 | Germany | 4.6% |
On the basis of the product types, the lithium cobalt oxide battery is estimated to have the largest market share in 2020 as it has a high specific energy, which makes it suitable to use in various electronic devices. Based on the power capacity, the batteries with a capacity between 0 to 3000mAh accounted for the significant market share. The batteries are widely used in consumer electronics such as digital cameras and camcorders, mobile phones, and handheld gaming consoles.
Based on the application, the consumer electronics segment is likely to experience a robust growth in the lithium-ion battery market owing to the demand for safe and inexpensive batteries with a higher energy density. Regionally, the Asia Pacific is estimated to dominate the global lithium-ion battery market in 2020. The regional growth is accredited to the presence of prominent original equipment manufacturers (OEMs) of batteries in the region.
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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Market Segmentation
A lithium-ion battery (LIB) is a rechargeable battery having a high energy density. Li-ion battery comprises of three components that include the anode, cathode, and an electrolyte. These batteries are relatively lighter than other rechargeable variants of the same size, require low maintenance, and have a much lower self-discharge rate than nickel-cadmium batteries. Since LIBs do not require complete discharge before recharging; hence, these batteries are used in numerous devices which consume more energy such as watches, mobile devices, cameras, pacemakers, and personal computers. On account of the aforementioned factors, lithium-ion batteries are considered ideal for modern fuel gauge applications.
The major product types in the global lithium-ion battery market are:
- Lithium Cobalt Oxide
- Lithium Iron Phosphate
- Lithium Nickel Manganese Cobalt
- Lithium Manganese Oxide
- Others
The market can be broadly segregated on the basis of its power capacity into:
- 0 to 3000mAh
- 3000mAh to 10000mAh
- 10000mAh to 60000mAh
- More than 60000mAh
Based on the applications, the global lithium-ion battery market is fragmented into:
- Consumer Electronics
- Electric Vehicles
- Energy Storage
- Others
The market can be broadly segregated on the basis of its region into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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| CAGR 2025-2034 - Market by | Country |
| India | 13.1% |
| China | 11.9% |
| Canada | 10.1% |
| UK | 9.9% |
| Italy | 7.6% |
| USA | XX% |
| Germany | XX% |
| France | XX% |
| Japan | 7.4% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Market Analysis
The growing internet penetration and rising purchasing power of users, especially across the emerging economies, has resulted in increased sales of portable electronic devices such as mobiles and laptops. In addition, numerous advantages offered by lithium-ion batteries are likely to strengthen the growth of the lithium-ion battery market. The rising awareness amongst the users regarding the reduced greenhouse gas emissions associated with the usage of electric vehicles enables the consumers to shift from traditional automobiles to electric vehicles. Moreover, increasing fluctuations in the demand and supply for electricity have further bolstered the demand for LIBs batteries in energy storing devices. Furthermore, stringent government regulations for a pollution-free environment are positively influencing the lithium-ion battery market growth.
However, the industry is witnessing fluctuations in the logistics cost of Li-ion batteries due to changes in the regulatory framework. The various requirements, prohibitions, ban on the transportation of Li-ion batteries is projected to restrain the market growth up to some extent.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global lithium-ion battery market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Contemporary Amperex Technology Co., Limited (CTL)
- LG Energy Solution
- Panasonic Corporation
- BYD Company Ltd.
- Samsung SDI Co., Ltd.
- SK Innovation Co., Ltd.
- CALB-CALB Co., Ltd. (CALB)
- Shenzhen Grepow Battery Co., Ltd.
- Toshiba Corporation
- A123 Systems LLC
- ENVISION AESC GROUP LTD
- Tianjin Lishen Battery Joint-Stock Co., Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global lithium-ion battery market reached a value of USD 42.90 Billion in 2024.
The market is projected to grow at a CAGR of nearly 10.80% in the forecast period of 2025-2034.
The market is estimated to reach a value of about USD 119.63 Billion by 2034.
The major drivers of the market include rising disposable incomes, increasing population, numerous advantages offered by lithium-ion batteries, and the rising awareness amongst the consumers.
The stringent regulations of various governments for a pollution-free environment and growing internet penetration are expected to be key trends guiding the growth of the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
Lithium cobalt oxide, lithium iron phosphate, lithium nickel manganese cobalt, and lithium manganese oxide are the types of the product in the market.
The leading power capacities of the lithium-ion battery in the market are 0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh, and more than 60000mAh.
The consumer electronics, electric vehicles, and energy storage among other are the various application segments in the market.
The leading players in the global lithium-ion battery market are Contemporary Amperex Technology Co., Limited (CATL), LG Energy Solution, Panasonic Corporation, BYD Company Ltd., Samsung SDI Co., Ltd., SK Innovation Co., Ltd., CALB-CALB Co., Ltd. (CALB), Shenzhen Grepow Battery Co., Ltd., Toshiba Corporation, A123 Systems LLC, ENVISION AESC GROUP Ltd, and Tianjin Lishen Battery Joint-Stock Co., Ltd., among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Power Capacity |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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