Lithium-Ion Battery Market Size

The global lithium-ion battery market size was valued at $65.09 billion in 2024 and is projected to reach $147.45 billion by 2030, growing at a CAGR of 14.6% during the forecast period.

Lithium-Ion Battery Market Overview

A lithium-ion battery is a type of rechargeable battery commonly used in portable electronics, electric vehicles, and various energy storage systems. It operates by moving lithium ions from the negative electrode (anode) to the positive electrode (cathode) during discharge, and in the opposite direction during charging. The electrodes are typically made of materials such as graphite for the anode and a lithium metal oxide for the cathode. These batteries are favored for their high energy density, lightweight, and long cycle life, making them ideal for applications requiring long-lasting, portable power. They also have a relatively low self-discharge rate compared to other rechargeable batteries. However, lithium-ion batteries can pose safety risks if damaged or improperly charged, as they can overheat or catch fire. Despite these risks, advancements in technology and safety features have made them a pivotal component in modern electronics and sustainable energy solutions.

Lithium-Ion Battery Market Dynamics

• The lithium-ion battery market is expected to witness significant growth in the future due to growing demand for electric vehicles (EVs) and the increased usage in portable electronic devices.

• Additionally, the rising adoption of renewable energy storage solutions and the technological advancements improving battery efficiency and lifespan are the prominent factors driving the growth of the lithium-ion battery market.

• However, the high production costs and the limited availability of raw materials are restraining the market growth.

• On the contrary, the expansion of energy storage systems for renewable energy, development of solid-state lithium-ion batteries, growing investments in battery recycling technologies, and the increasing demand in emerging markets are creating opportunities for market growth.

By End User, the Automotive Segment is projected to be the Largest Segment in the Lithium-Ion Battery Market

The automotive segment emerges as the largest segment in the lithium-ion battery market during the forecast period due to the global shift towards electric vehicles (EVs) driven by the need to reduce carbon emissions and dependence on fossil fuels. Governments worldwide are implementing stringent environmental regulations and offering incentives to promote the adoption of EVs, thereby fueling the demand for efficient and reliable batteries. Lithium-ion batteries are preferred in this sector because of their high energy density, which allows for longer driving ranges, fast charging capabilities, and lightweight properties that improve overall vehicle performance. Additionally, continuous advancements in battery technology are enhancing their lifespan and safety, making them more attractive for automotive applications. This combination of regulatory pressure, technological progress, and consumer preference for greener, more efficient vehicles is propelling the lithium-ion battery market within the automotive industry.

By Geography, Asia Pacific Region Holds the Dominant Position in the Market Revenue

Asia Pacific region maintains a commanding lead in market revenue due to rapid industrialization and urbanization which have led to increased consumption of consumer electronics and electric vehicles (EVs), both of which heavily rely on lithium-ion batteries. Countries like China, Japan, and South Korea are at the forefront of EV manufacturing and adoption, driven by government policies that encourage the reduction of carbon emissions and the promotion of sustainable energy solutions. Furthermore, the presence of major battery manufacturers in the region, such as Panasonic, LG Chem, and CATL, contributes to the availability and innovation in battery technology. Additionally, significant investments in renewable energy projects across the Asia Pacific are boosting the need for efficient energy storage solutions, further driving the demand for lithium-ion batteries. This confluence of technological leadership, supportive government policies, and growing market for EVs and renewable energy systems underpins the robust demand for lithium-ion batteries in the region.

Key Target Audience:

• Electric Vehicle Manufacturers

• Energy Storage System Developers

• Battery Material Suppliers

• Government Agencies and Regulators

• Investors and Financial Institutions

• Research Institutions and Academia

• Recycling and Waste Management Companies

• Automotive Industry Suppliers

List of the Key Players Profiled in the Report Includes: 

• JFE Chemical Corporation

• Jiangxi Zhengtuo New Energy Technology 

• Kuraray Co Ltd

• Kureha Corporation

• Mitsubishi Chemical Group Corporation

• NEI Corporation

• Ningbo Shanshan Co., Ltd

• Nippon Carbon Co. Ltd

• POSCO FUTURE M 

• Resonac Holdings Corporation

• SGL Carbon 

• Shanghai PTL New Energy Technology Co. Ltd

Recent Developments:

• In January 2024, Ningbo Shanshan Technology Co., Ltd., a prominent player in synthetic graphite anode materials for lithium-ion batteries, inaugurated a new production facilityoa 300,000-ton anode integrated projectoin Yunnan, China, as part of its expansion efforts.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Battery Product: 

• Battery Pack

• Cell

Market by, Material:

• Anode Binders

• Active Anode Materials

Market by, End User: 

• Non-Automotive

• Automotive

Market by, Geography:

The lithium-ion battery market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis

• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis

• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis

• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis

• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:

The report oGlobal Lithium-Ion Battery Market: Industry Analysis, Opportunities and Forecast up to 2030o by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:

• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.

• Analysis of the market structure by identifying various segments and sub-segments of the market.

• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.

• Understand major player profiles in the market and analyze their business strategies.

• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.