How big is the Global Lithium Ion Battery market?
According to MarkNtel Advisors study, The Global Lithium Ion Battery Market size is projected to grow at a CAGR of around 25.0% during the forecast period, i.e., 2024-30.
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Global Lithium-ion Battery Market 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.
Leading Companies in the Global Lithium Ion Battery market:
- 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
- Others
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Global Lithium Ion Battery Market Segmentation:
By Type
- Lithium Cobalt Oxide
- Lithium Manganese Oxide
- Lithium Iron Phosphate
- Lithium Titanate Oxide
- Lithium Sulfur
- Others (Lithium Nickel Cobalt, etc.)
Here, the Lithium Cobalt Oxide segment acquired the lion’s share of the market during the historical period and is anticipated to prevail in the same dominance during the forecast period.
By End Users
- Automotive
- Consumer Electronics
- Industrial
- Power Grid Stations
- Others (Military & Defense, Marine, Data Centres, etc.)
Regional/ Countries Insight:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The Asia-Pacific region demonstrated notable market growth, with substantial adoption exhibited by China during the historical years.
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We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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