: Market to Reach $140 Billion by 2030 with Lithium Nickel Manganese Cobalt Segment Accounting for $74.9 Billion – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Lithium-Ion (Li-ion) Batteries – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Lithium-Ion (Li-ion) Batteries Market to Reach $140 Billion by 2030
The global market for Lithium-Ion (Li-ion) Batteries estimated at US$48.9 Billion in the year 2022, is projected to reach a revised size of US$140 Billion by 2030, growing at a CAGR of 14.1% over the analysis period 2022-2030. Lithium Nickel Manganese Cobalt (NMC), one of the segments analyzed in the report, is projected to record 16.7% CAGR and reach US$74.9 Billion by the end of the analysis period. Growth in the Lithium Iron Phosphate (lfp) segment is estimated at 12% CAGR for the next 8-year period.
The COVID-19 pandemic has significantly impacted the battery value chain in Europe, leading to disruptions in the production and supply of Lithium-Ion Batteries (LIBs). However, there is optimism for a revival in this sector. Energy-storage materials for Li-ion batteries have also faced challenges due to the pandemic, but the market is expected to recover.
Li-ion batteries are an indispensable power source for various consumer and industrial applications. They come in different construction and package types, offering advantages such as high energy density and longer cycle life. These batteries find applications in various sectors, with the automotive industry expected to be a key driver of future market growth.
Within the Li-ion battery market, NMC (Nickel Manganese Cobalt) chemistry type is the largest segment. The Asia-Pacific region is at the forefront of the global Li-ion battery market, with significant manufacturing capacity. Leading countries and mega factories play a crucial role in Li-ion battery production.
Despite the challenges posed by the pandemic, the Li-ion battery market remains competitive and dynamic. Key players in the industry continue to innovate and expand their presence. Recent market activity indicates ongoing developments and investments in this sector, positioning it for growth in the coming years.
The U.S. Market is Estimated at $7.5 Billion, While China is Forecast to Grow at 17.4% CAGR
The Lithium-Ion (Li-ion) Batteries market in the U.S. is estimated at US$7.5 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$31.6 Billion by the year 2030 trailing a CAGR of 17.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.6% and 12.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 13% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 800 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $48.9 Billion |
| Forecasted Market Value (USD) by 2030 | $140 Billion |
| Compound Annual Growth Rate | 14.1% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Robust Outlook for EVs Opens New Avenues of Growth for Li-ion Batteries Market
- Pandemic Impact on EVs and Prospects for Li-ion Battery Technologies
- Electric Micromobility Rises in Prominence Amid COVID-19 Pandemic
- Global Automakers Focus on Securing Raw Materials for EVs
- LiFePO4 Battery Gaining Prominence in Automotive Applications
- Rising Sales of Electric Buses Bolsters Demand for Li-ion Batteries
- Shortfall of Raw Materials to Augment Cost of EV Batteries
- Major Players Operating in the EV Battery Space
- Rising Production of Electric Cars Set to Increase Focus on Recycling
- Growing Environmental Footprint of Lithium-Ion Battery Brings Recycling Into the Spotlight
- Li-Ion Batteries: Solution for De-Carbonization at the Cost of Environmental Damage
- Here’s How Li-Ion Battery Boom Impacts the Environment
- Why Recycling is Emerging Into the Spotlight?
- Stringent Government Guidelines Concerning Battery Waste Disposal to Encourage Global Li-ion Battery Recycling Initiatives
- Regulations Push Investments in Li-ion Battery Recycling Plants
- Li-ion Batteries Emerge as the Dominant Technology for Grid-Scale Energy Storage
- Rapid Growth of Renewable Energy Market Drives Market Opportunities
- Increase in Offshore Wind Installations Presents New Opportunities
- Lithium-ion Solar Batteries Hold an Edge over Lead Acid Batteries for Residential Solar Customers
- Falling Cost of Clean Energy and Li-ion Batteries Favors Adoption in Renewable Energy Systems
- Peak Shifting Application Promises High Demand Scenario for Li-ion Batteries
- High Cost and Limited Battery Life Impede Adoption of Li-ion Batteries in Renewable Systems
- Li-ion Batteries: The Preferred Rechargeable Battery Chemistry for Consumer Electronics Devices
- Growing Demand for Mobile Computing Devices To Spur Demand
- Widespread Use of Li-ion Batteries in Smartphones
- Li-ion Batteries Gain Momentum in Wearable Devices
- Rapid Proliferation of Smart Homes Bodes Well for Li-ion Battery Uptake
- Driven by Focus on Convenience, Comfort and Energy Savings, the Rising Proliferation of Smart Homes Presents Steady Growth Opportunities for Batteries Market
- New Battery Chemistry and Modularity at the Forefront of Innovations in UPS Systems
- Graphene Holds the Potential to Enhance Attributes of Li-ion Batteries
- Smart UPS Systems Built on Li-ion Batteries Present Exciting Opportunities for Data Centers to Leverage Stored, Unused Energy
- Increasing Adoption of Li-ion Batteries in Data Centers
- Li-ion Batteries Offer Support for Industrial Applications
- Demand for Portable Batteries Set to Rise in Tandem with Expansion of Portable Applications
- Increased Preference for Li-ion Batteries by Motorcycle Manufacturers Due to High Resistivity to Drive the Market Growth
- Rise of Drones Spurs Demand for Drone Batteries
- Advanced Batteries for UAV Drones
- Use of Li-ion Batteries Gaining Momentum in Material Handling Industry
- Growing Significance of Solid-State Batteries Over Traditional Lithium-ion Battery Systems to Drive the Market Growth
- Focus on Innovations in Battery Materials to Increase Charging Rates
- Emphasis on Lithium-Ion Battery Life Cycle Management
- Current Regulatory Framework for Lithium-Ion Batteries and Future Outlook
- Li-ion Battery Pricing Trends: Significant Impact on Adoption in Automotive Industry
- Raw Material Availability and Pricing: Factors with Significant Implications for Li-ion Batteries Market
- Lithium Reserves and Production: Vital for Li-ion Battery Market
- Global Lithium Reserves in Thousand Metric Tons by Select Countries
- High Cobalt Prices Affect Production Cost of Li-ion Battery
- Solid Battery Technology Set to Leapfrog with Tweaks in Design and Material Options
- Shift from Liquid Electrolyte towards Solid-State Battery
- Solid-State (Solid Lithium) Design: Intriguing Option for New Applications
- No End of Road for Lithium-Ion Batteries as More is Poised to Come with New Options
- Innovations in Vehicle Battery to Have Spillover Gains for Stationary Storage Applications
- Innovations, Advancements & Research Studies Fuel Market Prospects
- Safety Concerns and Other Disadvantages of Li-ion Batteries: A Review
- Fire Risk with Lithium-ion Batteries
- Competing Disruptive Battery Technologies: A Major Challenge for Li-ion Battery Market
FOCUS ON SELECT PLAYERS (Total 245 Featured)
- Amperex Technology Ltd.
- A123 Systems LLC
- Accutronics Ltd.
- Ansmann AG
- Alexander Technologies Europe Limited
- Amit Industries Ltd. (Amicell)
- AceOn Battery Solar Technology Ltd. (AceOn Group)
- Anhui Uplus Energy Technology Co. Ltd.
- Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
- Aerolithium Batteries
- Amionx
- aentron GmbH
- AMTE Power plc
- 4R Energy Corporation
- 49er Communications, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/n78zm0
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