The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Lithium-ion Battery Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Lithium-ion Battery Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, Lithium-ion Battery Market size was valued at USD 62 Billion in 2023 and is projected to reach USD 172 Billion by 2030. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.
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What is Included in Lithium-ion Battery Market Segmentation?
The report has segmented the market into the following categories:
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. It largely ascribes to the remarkable properties of lithium cobalt oxide batteries that facilitate high-current charging and discharging and enable devices to release relatively more energy in a shorter span. Besides, these batteries exhibit continuous discharge rates of up to 50C and pulse discharge rates of up to 150C, making them more appropriate for end-users.
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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Key Factor Driver Lithium-ion Battery Industry Growth by 2030
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.
Who are the Key Players Operating in the Lithium-ion Battery Industry?
The top companies of the Lithium-ion Battery market ruling the industry 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
- Others
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FAQs (Frequently Ask Questions)
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