According to MarkNtel Advisors who is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently released a report on Lithium-ion Battery Market - Industry Trends and Forecast to 2030 and provides a comprehensive analysis of the current and future market conditions. The market research insights offered in this report enhance understanding of the market landscape, potential challenges, and strategies to establish a strong brand presence. With detailed market segmentation, in-depth analysis of key players, examination of consumer and supply chain trends, and exploration of new geographic markets, the insights presented in this report simplify the effective marketing of products and services.
Global Lithium-ion Battery Market Analysis and Size
The Global Lithium-ion Battery Market size was valued at USD 62 Billion in 2023 and is projected to reach USD 172 Billion by 2030.
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Some of the major players operating in the Lithium-ion Battery Market are Samsung SDI, LG Chem Ltd., Hitachi Chemical Co., Ltd., Johnson Controls International PLC, Panasonic Corporation, Tesla Inc., BYD Company, A124 Systems, LLC, GS Yuasa Corporation Ltd., Saft, Yinlong Energy China Ltd., Toshiba Corporation, EnerDel, Inc., VARTA AG, and Others.
Lithium-ion Battery Market Growth Driver:
Frequent Adoption of Li-ion Batteries in Hybrid and Plug-in Vehicles - Most of the market expansion can be attributed to the growing adoption of electric or hybrid vehicles worldwide. The major companies are investing in the production of mobility solutions that are not just sustainable but also ultra-modern in their techniques. This factor has led to a swift increase in the number of electric vehicles, with the common goal of becoming carbon neutral. With companies like Tesla and BYD coming up with high-powered electric vehicles, the market is set to receive a major push in the coming years. Hence, being the essential power source for electric and plug-in vehicles, lithium-ion batteries have gained traction in recent years, which, in turn, has accelerated industry growth.
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Market Segment and Geographical Analysis
By Type
- Lithium Cobalt Oxide
- Lithium Manganese Oxide
- Lithium Iron Phosphate
- Lithium Titanate Oxide
- Lithium Sulfur
- Others (Lithium Nickel Cobalt, etc.)
By End Users
- Automotive
- Consumer Electronics
- Industrial
- Power Grid Stations
- Others (Military & Defense, Marine, Data Centres, etc.)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia Pacific
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