Global Lithium-ion Battery Market Size is valued at USD 56.3 Billion in 2024 and is predicted to reach USD 250.7 Billion by the year 2034 at a 16.2% CAGR during the forecast period for 2025-2034.
Most laptops, cell phones, hybrid and electric vehicles, and other electronic devices use lithium-ion batteries. These have a high energy density to prolong battery life, are lightweight, and can be recharged. Therefore, their use is growing in a wide range of applications. These batteries power a variety of items, including cell phones, power equipment, electric cars, and aerospace components. Lithium-ion batteries (LIB) use intercalated lithium compounds as the electrode in contrast to disposable batteries, which use metallic lithium as the electrode.
The demand for these goods has risen quickly across industries, primarily in the manufacturing and automotive sectors. This is a result of the growing popularity of electric vehicles, falling Li-ion battery prices, booming government efforts, and increased technologies.
Future opportunities for India's lithium-ion battery market are likely to arise from the country's growing lithium-ion battery recycling activities, which are anticipated to secure the supply of raw materials like lithium and cobalt and decrease the reliance on removing and refining materials from mineral resources.
Hazardous compounds in used batteries include acids and heavy metals like mercury and lead. It is required to keep used batteries stored away from other combustible and flammable products in watertight containers. Although lithium-ion batteries can store a lot of energy in a short space, they tend to heat up quickly and could catch fire if something goes wrong. Lithium-ion battery overheating is caused by high-rate or unusually rapid discharge, such as from a short circuit.
The lithium-ion battery market is categorized into Components, Products, battery Types, Capacity, voltage, and end users. As per the Component, the market consists Cathode (Lithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Titanate Oxide, Lithium Manganese Oxide, Lithium Nickel Cobalt Aluminum Oxide), Anode, Electrolyte (Lithium Hexafluorophosphate (LiPF6), Lithium Hexafluoroarsenate (LiAsF6), Lithium Perchlorate (LiClO4), Lithium bis(trifluoromethanesulfonyl)imide (LiTFSI), Others), Separator, and Others. The Product segment consists of Cylindrical Cells, Prismatic Cells, Pouch Cells, Button Cells, and Others. The Battery Type segment is classified into rechargeable and non-rechargeable. Based on Capacity, the market is further divided into Below 3,000 mAh, 3,001 – 10,000 mAh, 10,001 – 60,000 mAh, and above 60,000 mAh. As per the voltage, the market is categorised into Low (Below 12V), Medium (12V - 36V), and High (Above 36V). According to the End-User segment, the market includes consumer electronics, automotive, industrial, power industry, telecom, aerospace and defence, marine, medical, and others.
The 3,000 mAh to 10,000 mAh is expected to hold a significant share of the global lithium-ion battery market. These batteries are appropriate for industrial and electric car applications because of their large Capacity. Higher-capacity batteries that can run devices for extended periods of time while offering the best possible experience in terms of huge screens and power backup services are becoming more and more necessary as the consumer electronics and smartphone markets expand. The use of portable electronics, including laptops, smartphones, and mobile phones, is growing quickly. Due to their small battery capacity, these devices need to be charged more frequently. These power banks' lithium-ion batteries provide dependability, safety, and low discharge rates.
The 36 V voltage segment is projected to increase in the global lithium-ion battery market. These batteries are used in high-current sectors like telecom, power, maritime, and the military, as well as electric cars. They have more power, a longer lifespan, and better safety features than lead-acid batteries. These batteries provide outstanding performance thanks to their large power capacity and deep-cycle capabilities. They also have sophisticated battery management systems that maximize cell cycle life, avoid overcharging and overheating, and guarantee optimal performance.
Consumer electronics is expected to hold a major share of the global lithium-ion battery market. Consumer electronics items and portable devices both need portable batteries. Mobile phones, laptops, desktops, tablets, torches or lanterns, LED lighting, vacuum cleaners, digital cameras, wristwatches, calculators, hearing aids, and other wearable gadgets are just a few things that can use portable batteries. Over the projection period, the market for electric and hybrid vehicles is expected to grow profitably. The expansion is anticipated to be aided by rising fossil fuel prices and increased consumer knowledge of the advantages of battery-powered vehicles, notably in North America, Europe, and Asia-Pacific.
The lithium-ion battery market dominated the lithium iron phosphate (LFP) category. The category is expanding due to factors such as the rising requirement for long-lasting and effective batteries and the spike in demand for lithium iron phosphate (LFP) batteries in portable devices. The benefits of lithium iron phosphate (LFP) batteries, such as their long shelf life and top safety rating, also promote the segment's expansion.
The Asia Pacific lithium-ion battery market is expected to register the highest market share in revenue shortly. Due to growing environmental concerns, China has banned traditional fossil fuel-powered scooters from all of its main cities to reduce pollution, increasing the country's e-scooter sales. The usage of tools powered by lithium-ion batteries has expanded due to Asia Pacific's ascent to prominence as a hub for global manufacturing. The region also has the most population in the entire world. As a result, consumer devices that rely on lithium-ion batteries for functioning, such as mobile phones and laptops, see strong sales in the Asia Pacific region.
One of the key elements driving up demand for lithium-ion batteries is the expanding market for electric vehicles in Asia Pacific nations like China and India. Due to the rising use of lithium-ion batteries in energy storage systems, electric vehicles, and consumer electronics, the market in Germany is anticipated to increase moderately throughout the projected period. Developing renewable energies and energy storage technologies are prominent industries in Germany. Additionally, North America is anticipated to dominate the market. Due to the widespread use of electric vehicles and consumer gadgets. Government measures that encourage the industry and strict targets for decreasing GHG emissions are mostly to blame for the nation's soaring sales of electric vehicles.
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Report Attribute |
Specifications |
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Market size value in 2024 |
USD 56.3 Billion |
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Revenue forecast in 2034 |
USD 250.7 Billion |
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Growth rate CAGR |
CAGR of 16.2% from 2025 to 2034 |
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Quantitative units |
Representation of revenue in US$ Mn, and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Material, Product Type, Type, Capacity, Voltage, And Industry |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Bak Powder Battery Co.Ltd., BYD Company LTD., Clarios, Contemporary Amperex Technologies Co., Limited, GS Yuasa International Ltd., Hitachi Ltd., LG CHEM, Panasonic Holdings Corporation, Samsung SDI Co.Ltd, Toshiba Corporation, Calb, Tesla, Inc, Lithiumwerks, Saft, Varta AG, Farasis Energy (Ganzhou) Co.Ltd., Sila Nanotechologies Inc., Amperex Technologies Limited, Envision Aesc Group Ltd, Guoxuan High Tech Co., Ltd, Lithium Energy Japan Enerdel, Inc, Kokam, Ipower Batteries PVT LTD and Nextera Energy, Inc. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Lithium-ion Battery Market Snapshot
Chapter 4. Global Lithium-ion Battery Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Component Estimates & Trend Analysis
5.1. by Component & Market Share,2021 & 2034
5.2. Market Capacity (Value (US$ Mn)) & Forecasts and Trend Analyses,2021 to 2034 for the following by Component:
5.2.1. Cathode Material
5.2.1.1. Cathode Material for Lithium-Ion Batteries
5.2.1.1.1. Lithium iron phosphate
5.2.1.1.2. Lithium iron cobalt oxide
5.2.1.1.3. Lithium nickel manganese cobalt
5.2.1.1.4. Lithium nickel cobalt aluminum
5.2.1.1.5. Lithium manganese oxide
5.2.2. Anode Materials
5.2.2.1. Anode Material for Lithium-Ion Batteries
5.2.2.1.1. Natural graphite
5.2.2.1.2. Artificial graphite
5.2.2.1.3. Another anode material
5.2.3. Electrolyte Material
5.2.4. Separator Material
5.2.5. Current collector Materials
5.2.6. Other Materials
Chapter 6. Market Segmentation 2: by Product Type Estimates & Trend Analysis
6.1. by Product Type & Market Share,2021 & 2034
6.2. Market Capacity (Value (US$ Mn)) & Forecasts and Trend Analyses,2021 to 2034 for the following by Product Type:
6.2.1. Cylindrical Cells
6.2.2. Prismatic Cells
6.2.3. Pouch Cells
6.2.4. Button Cells
6.2.5. Others
Chapter 7. Market Segmentation 3: by Battery Type Estimates & Trend Analysis
7.1. by Battery Type & Market Share,2021 & 2034
7.2. Market Capacity (Value (US$ Mn)) & Forecasts and Trend Analyses,2021 to 2034 for the following by Battery Type:
7.2.1. Rechargeable
7.2.2. Non-Rechargeable
Chapter 8. Market Segmentation 4: by Capacity Estimates & Trend Analysis
8.1. by Capacity & Market Share,2021 & 2034
8.2. Market Capacity (Value (US$ Mn)) & Forecasts and Trend Analyses,2021 to 2034 for the following by Capacity:
8.2.1. 0 to 3,000 mAh
8.2.2. 3,000 to 10,000 mAh
8.2.3. 10,000 to 60,000 mAh
8.2.4. 60,000 mAh and Above
Chapter 9. Market Segmentation 5: by Voltage Estimates & Trend Analysis
9.1. by Voltage & Market Share,2021 & 2034
9.2. Market Capacity (Value (US$ Mn)) & Forecasts and Trend Analyses,2021 to 2034 for the following by Voltage:
9.2.1. Low (Below 12 V)
9.2.2. Medium (12 V-36 V)
9.2.3. High (Above 36 V)
Chapter 10. Market Segmentation 6: by Industry Estimates & Trend Analysis
10.1. by Industry& Market Share,2021 & 2034
10.2. Market Capacity (Value (US$ Mn)) & Forecasts and Trend Analyses,2021 to 2034 for the following by Industry:
10.2.1. Consumer Electronics
10.2.1.1. Smartphones
10.2.1.2. UPS
10.2.1.3. Laptops
10.2.1.4. Others
10.2.2. Automotive
10.2.2.1. Plug-in Hybrid Vehicles
10.2.3. Aerospace
10.2.3.1. Commercial Aircraft
10.2.4. Marine
10.2.4.1. Commercial
10.2.4.2. Tourism
10.2.5. Medical
10.2.6. Industrial
10.2.6.1. Mining Equipment
10.2.6.2. Construction Equipment
10.2.6.3. Forklifts, Automated Guided Vehicles (AGV), And Automated Mobile Robots (AMR)
10.2.7. Power
10.2.8. Telecommunications
Chapter 11. Lithium-ion Battery Market Segmentation 7: Regional Estimates & Trend Analysis
11.1. North America
11.1.1. North America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
11.1.2. North America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2021-2034
11.1.3. North America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Battery Type, 2021-2034
11.1.4. North America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Capacity, 2021-2034
11.1.5. North America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Voltage, 2021-2034
11.1.6. North America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Industry, 2021-2034
11.1.7. North America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
11.2. Europe
11.2.1. Europe Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
11.2.2. Europe Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2021-2034
11.2.3. Europe Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Battery Type, 2021-2034
11.2.4. Europe Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Capacity, 2021-2034
11.2.5. Europe Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Voltage, 2021-2034
11.2.6. Europe Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Industry, 2021-2034
11.2.7. Europe Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
11.3. Asia Pacific
11.3.1. Asia Pacific Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
11.3.2. Asia Pacific Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2021-2034
11.3.3. Asia-Pacific Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Battery Type, 2021-2034
11.3.4. Asia Pacific Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Capacity, 2021-2034
11.3.5. Asia Pacific Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Voltage, 2021-2034
11.3.6. Asia Pacific Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Industry, 2021-2034
11.3.7. Asia Pacific Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
11.4. Latin America
11.4.1. Latin America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
11.4.2. Latin America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2021-2034
11.4.3. Latin America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Battery Type, 2021-2034
11.4.4. Latin America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Capacity, 2021-2034
11.4.5. Latin America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Voltage, 2021-2034
11.4.6. Latin America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Industry, 2021-2034
11.4.7. Latin America Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
11.5. Middle East & Africa
11.5.1. Middle East & Africa Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
11.5.2. Middle East & Africa Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2021-2034
11.5.3. Middle East & Africa Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Battery Type, 2021-2034
11.5.4. Middle East & Africa Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Capacity, 2021-2034
11.5.5. Middle East & Africa Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Voltage, 2021-2034
11.5.6. Middle East & Africa Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by Industry, 2021-2034
11.5.7. Middle East & Africa Lithium-ion Battery Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
Chapter 12. Competitive Landscape
12.1. Major Mergers and Acquisitions/Strategic Alliances
12.2. Company Profiles
12.2.1. Bak Powder Battery Co.Ltd.
12.2.2. BYD Company LTD.
12.2.3. Clarios
12.2.4. Contemporary Amperex Technologies Co., Limited
12.2.5. GS Yuasa International Ltd.
12.2.6. Hitachi Ltd.
12.2.7. LG CHEM
12.2.8. Panasonic Holdings Corporation
12.2.9. Samsung SDI Co.Ltd
12.2.10. Toshiba Corporation
12.2.11. Caleb
12.2.12. Tesla, Inc
12.2.13. Lithiumwerks
12.2.14. Saft
12.2.15. Varta AG
12.2.16. Farasis Energy (Ganzhou) Co.Ltd.
12.2.17. Sila Nanotechologies Inc.
12.2.18. Amperex Technologies Limited
12.2.19. Envision Aesc Group Ltd
12.2.20. Guoxuan High Tech Co., Ltd
12.2.21. Lithium Energy Japan
12.2.22. Enerdel, Inc
12.2.23. Kokam
12.2.24. Ipower Batteries PVT LTD
12.2.25. Nextera Energy, Inc
12.2.26. Other Prominent Players
Lithium-ion Battery Market By Component-
Lithium-ion Battery Market By Capacity
Lithium-ion Battery Market By Voltage:
Lithium-ion Battery Market By Product -
Lithium-ion Battery Market By Battery Type
Lithium-ion Battery Market By End-User
Lithium-ion Battery Market By Region-
Lithium-ion Battery Market North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
