Lithium-ion Battery Market

Lithium-ion Battery Market Size, Share, Statistics and Industry Growth Analysis Report by Type (NMC, LFP, LCO, LTO, LMO, NCA), Capacity (Below 3,000 mAh, 3,001 mAh–10,000 mAh, 10,001 mAh–60,000 mAh, Above 60,000 mAh), Voltage (Below 12V, 12V–36V, Above 36V), Application and Region - Global Forecast to 2032

Report Code: SE 4967 Aug, 2023, by marketsandmarkets.com

[267 Pages Report] The global Lithium-ion Battery Market Size is expected to grow from USD 56.8 billion in 2023 to USD 187.1 billion by 2032, at a CAGR of 14.2% from 2023 to 2032.

The global demand for lithium-ion batteries is rising due to increased demand for hybrid and plug-in hybrid electric vehicles, stringent government mandates for environment protection, rising demand for consumer electronics, and R&D efforts to enhance the performance of lithium-ion batteries industry. Reduction in the prices of lithium-ion batteries is also driving their adoption across industries.

Lithium-ion Battery Market

Lithium-ion Battery Market

Lithium-ion Battery Market Forecast to 2032

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Market Dynamics

DRIVERS: Growing demand for battery-operated material-handling equipment across industries

Due to the increase in industrial automation, material-handling equipment has also evolved to support the changing requirements of various industries. With time, various technological advancements have occurred in the material-handling equipment industry. Automated material handling and lifting equipment, including automated guided vehicles, elevating equipment, industrial trucks, and intralogistics systems, have undergone various technological advancements that require batteries. Lithium-ion batteries are being adopted significantly for use in various material-handling equipment such as forklifts, robots, ground support equipment, etc.

RESTRAINTS: Concerns regarding handling of used batteries

Used lithium-ion batteries from hybrid electric vehicles, smartphones, laptops, watches, etc., are accumulating because cost-effective solutions for recycling these batteries are unavailable. As spent/used batteries hold a residual charge, there lies the risk of unplanned discharge, which may cause harm to properties and people. Large lithium-based batteries, such as those used for automotive applications, can be mistaken for other types of batteries such as lead-acid, if inappropriately labeled by local battery manufacturers. If not sorted correctly, these could pose a danger and must be separated from spent lead-acid batteries before storage.

OPPORTUNITIES: Growing integration of renewable energy integration in power grids globally

In recent years, energy generation has significantly changed from fossil fuels to renewable energy sources such as solar, wind, and water. Various economies are taking initiatives to switch to cleaner energy sources. For instance, the European Union is rapidly accelerating the implementation of solar photovoltaic (PV) and wind initiatives in response to a possible energy crisis in the coming future. In 2022, the region witnessed a remarkable addition of over 50 GW of renewable energy in new capacity, signifying an impressive 45% increase compared to the previous year. The introduction of ambitious policies and targets outlined in the REPowerEU Plan and The Green Deal Industrial Plan are expected to be significant catalysts for attracting substantial investments in renewable energy projects throughout the European Union in the coming years.

CHALLENGES: Performance degradation in lithium-ion batteries overtime

Performance degradation of the lithium-ion battery over the lifecycle is unavoidable. Despite remarkable

Recent Developments and enhancements in battery technologies, lithium-ion cells age with time and usage, reducing their energy and storage capabilities. Battery cell deterioration is noticeable in mobile phones and laptops. Lithium-ion batteries age over time due to chemical and physical processes that occur during charging, discharging, and storage. These processes include chemical reactions between the electrodes, dendrite formation, lithium plating, thermal stress, calendar aging, cycle aging, and self-discharge. These factors contribute to a gradual decline in the battery's capacity and overall performance.

Lithium-Ion Battery Market Ecosystem

Prominent companies in this market include well-established, financially stable manufacturers such as LG Energy Solution (South Korea), Samsung SDI Co. Ltd. (South Korea), SK Innovation Co., Ltd. (South Korea), Panasonic Holdings Corporation (Japan), BYD Company Limited (China), and Toshiba Corporation (Japan). These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Along with the well-established companies, there are a large number of startups and small companies operating in this market, such as Lithium Werks (The Netherlands), Sila Nanotechnologies, Inc. (US), Northvolt AB (Sweden).

Lithium-Ion Battery Market by Ecosystem

Lithium Nickel Manganese Cobalt (NMC) batteries segment is expected to grow at the substantial growth rate during the forecast period.

An NMC battery is a combination of lithium with materials such as nickel-manganese-cobalt. It can be used as an energy cell or power cell. Like other lithium-ion battery varieties, NMC batteries can have either high specific energy density or high specific power. The effectiveness of NMC depends upon the combination of nickel and manganese. Separately, both are not very effective, but combining these two elements enhances their strengths and helps overcome their drawbacks. This battery type is preferred in automotive applications due to its very low self-heating rate. It is also used in power tools, medical equipment, and industrial equipment.

The market for above 60,000 mAh is projected to gain significant market share during the forecast period

These high-capacity batteries are used as power backup and for powering heavy electric vehicles, industrial applications, hybrid electric vehicles, electric boats, energy storage systems, and emergency power systems. They are also utilized in uninterrupted power supply, inverters, telecommunications, power, manufacturing, etc. These applications have unique power requirements. Hence, lithium-ion batteries are preferred in these high-power applications as they offer advantages such as overcharge protection, high and low temperature protection, and short circuit protection. They cannot be made from single cells and, hence, require modules and sometimes an array of modules, power racks, and power containers.

Lithium-ion Battery Market by Region

Lithium-ion Battery Market Statistics by Region

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The market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2032.

The market in Asia Pacific has been segmented into China, Japan, India, Australia, Indonesia, Thailand, and the Rest of Asia Pacific. The region is the prime manufacturer and consumer of lithium-ion batteries. Asia Pacific is witnessing a huge demand for lithium-ion batteries from leading consumer electronics manufacturers in the region. Advancements in the technologies used in wearable devices and consumer electronics in Asia Pacific are also fueling the Lithium-ion Battery Market Growth in the region.

China accounted for the largest share of the lithium-ion battery market in Asia Pacific as it is one of the major lithium-ion battery producers in the region. Increasing R&D for the development of new battery technologies by various countries in Asia Pacific is another factor driving the growth of the lithium-ion battery market in the region.

Key Market Players

LG Energy Solution (South Korea), SK Innovation Co., Ltd. (South Korea), Panasonic Holdings Corporation (Japan), BYD Company Limited (China), Samsung SDI Co. Ltd. (South Korea), and Toshiba Corporation (Japan) are among a few top players in lithium-ion battery companies.

Lithium-ion Battery Market Report Scope

Report Metric

Details

Estimated Market Size in 2023

USD 56.8 Billion

Projected Market Size in 2032

USD 187.1 Billion

Growth Rate

CAGR of 14.2%

Market size available for years

2019—2032

Base year

2022

Forecast period

2023—2032

Forecast Units

USD Millions/USD Billions and Million Units

Segments Covered

Material, Product type, Type, Capacity, Voltage, and Application

Geographic regions covered

North America, Europe, Asia Pacific, and RoW

Companies covered

BYD Company Limited (China), Panasonic Holdings Corporation (Japan), Samsung SDI Co. Ltd.  (South Korea), GS Yuasa Corporation (Japan), Toshiba Corporation (Japan), Hitachi, Ltd. (Japan), LG Energy Solution (South Korea), SK Innovation Co., Ltd. (South Korea) and Others- (Total 26 players have been covered)

Lithium-ion Battery Market Highlights

This research report categorizes the lithium-ion battery market by material, product type, type, capacity, voltage, application, and region.

Segment

Subsegment

By Material:

  • Cathode material
  • Anode material
  • Electrolyte material
  • Separator material
  • Current collector material
  • Other materials

By Product Type:

  • Components of lithium-ion batteries
  • Portability

By Type:

  • Lithium Nickel Manganese Cobalt
  • Lithium Iron Phosphate
  • Lithium Cobalt Oxide
  • Lithium Titanate Oxide
  • Lithium Manganese Oxide
  • Lithium Nickel Cobalt Aluminum Oxide

By Capacity:

  • Below 3,000 mAh
  • 3,001 – 10,000 mAh
  • 10,001 – 60,000 mAh
  • Above 60,000 mAh

By Voltage:

  • Low
  • Medium
  • High

By Application:

  • Consumer Electronics
  • Automotive
  • Aerospace
  • Marine
  • Medical
  • Industrial
  • Power
  • Telecommunications

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Indonesia
    • Thailand
    • Rest of Asia Pacific
  • Rest of the World
    • South America
    • Middle East & Africa

Recent Developments

  • 21st Oct 2023, Japanese researchers have developed lithium-ion batteries that don't rely on cobalt, a costly and resource-constrained material commonly found in commercial lithium-ion batteries. Their innovative approach uses a combination of elements in the electrodes, including lithium, nickel, manganese, silicon, and oxygen, resulting in batteries that are 60% more energy-dense and more powerful, with a voltage of 4.4 volts. The experimental batteries also demonstrated good longevity, retaining 80% of their capacity after over 1,000 charging and discharging cycles. This breakthrough has the potential to improve the environmental, economic, and social aspects of battery production.
  • 5th Oct 2023, Photoionisation detection (PID) sensors play a crucial role in identifying potential issues in the production and use of lithium-ion (Li-ion) batteries, which power various devices like electric vehicles, e-bikes, mobile phones, and laptops. Li-ion battery safety concerns have led to recalls and incidents, including overheating and exploding batteries. PID sensors can detect volatile organic compounds (VOCs) emitted by faulty Li-ion batteries, aiding in early fault detection, enhancing safety, and meeting the growing demand for battery monitoring technology. This technology is especially critical in preventing battery ignition and toxic gas emissions.
  • 5th Oct 2023, Researchers have discovered a method to use manganese, a more abundant mineral, to create cost-effective, high-performance lithium-ion (Li-ion) batteries, offering an alternative to the limited nickel and cobalt resources used in battery production. These synthesized manganese-based materials, featuring a unique nanostructure, exhibit the high stability and energy density required for Li-ion batteries. This innovation is crucial for addressing resource challenges in battery production and lowering costs while reducing dependence on scarce metals like nickel and cobalt, potentially meeting future energy demands.
  • 2nd Oct 2023, Recycling lithium-ion batteries is essential for the environmental sustainability of India's growing electric vehicle (EV) industry. BatX Energies, a company founded in 2020, reclaims and recycles vital Earth metals from discarded lithium-ion cells, including lithium, cobalt, nickel, and manganese, which are crucial for battery production. By adopting a 'Hub and Spoke' strategy in collaboration with OEMs and channel partners, they streamline the collection process and ensure compliance with regulations. Recycling helps reduce the environmental impact and dependency on imports for rare earth materials in lithium-ion cell manufacturing while creating job opportunities and skilled workforces in electronic waste management. The recycled materials are reintroduced into the supply chain and used in various industries, promoting a circular economy for lithium-ion battery manufacturing. BatX Energies plans to expand its operations globally, addressing similar challenges in other markets like South Africa, the USA, and Europe.
  • 18th Sept 2023, Gotion, a lithium-ion battery manufacturer, is investing $2 billion in its first North America-based factory in Manteno, Illinois. The facility, set to become the largest EV battery production investment in the state, will reuse an existing Kmart distribution center, employing up to 2,600 workers. The plant will produce 40 GWh lithium-ion battery cells and 10 GWh battery packs, focusing on energy storage system integration and supporting Illinois' climate change goals. Gotion will receive significant state incentives and plans to build a battery component factory in Michigan.
  • 6th Sept 2023, Ascend Elements, a manufacturer of sustainable battery materials for electric vehicles, has secured $542 million in equity investments. They are building North America's first sustainable cathode precursor (pCAM) and cathode active material (CAM) manufacturing facility. The technology uses used lithium-ion battery materials and gigafactory manufacturing scrap to create sustainable materials, reducing carbon emissions by up to 93%. This investment will advance the construction of the Apex 1 facility in Kentucky, producing enough sustainable pCAM for 750,000 electric vehicles per year and supporting the global transition to zero carbon emissions.
  • 5th Spet 2023, The BMZ Group, a prominent lithium-ion battery manufacturer, has acquired Nox Cycles Austria, along with its sister companies in Germany and Switzerland, as well as the Hawk Bikes brand. This acquisition strengthens BMZ's position in the e-bike industry, with a particular focus on 'Made in Austria' production. Both companies emphasize continuity in management, customer relationships, and employees, aiming to enhance innovation and expand production and sales under the new partnership.

Frequently Asked Questions (FAQs)

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 35)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 INCLUSIONS AND EXCLUSIONS 
    1.4 STUDY SCOPE 
           FIGURE 1 LITHIUM-ION BATTERY MARKET SEGMENTATION
           1.4.1 REGIONAL SCOPE
                    FIGURE 2 LITHIUM-ION BATTERY MARKET: REGIONAL SCOPE
           1.4.2 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
    1.9 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 41)
    2.1 RESEARCH DATA 
           FIGURE 3 LITHIUM-ION BATTERY MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
                    FIGURE 4 LITHIUM-ION BATTERY MARKET: RESEARCH APPROACH
           2.1.2 SECONDARY DATA
                    2.1.2.1 List of major secondary sources
                    2.1.2.2 Key data from secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Primary interviews with experts
                    2.1.3.2 Key data from primary sources
                    2.1.3.3 Key industry insights
                    2.1.3.4 Breakdown of primaries
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 TOP-DOWN APPROACH
                    2.2.1.1 Estimation of market size using top-down approach
                               FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.2.2 BOTTOM-UP APPROACH
                    2.2.2.1 Estimation of market size using bottom-up approach
                               FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
                               FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY FOR LITHIUM-ION BATTERY MARKET: SUPPLY-SIDE ANALYSIS
    2.3 DATA TRIANGULATION 
           FIGURE 8 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
           FIGURE 9 ASSUMPTIONS
    2.5 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON LITHIUM-ION BATTERY MARKET 
    2.6 RISK ASSESSMENT 
           TABLE 1 RISK ANALYSIS
 
3 EXECUTIVE SUMMARY (Page No. - 53)
    FIGURE 10 LITHIUM-ION BATTERY MARKET, 2019–2032 (USD BILLION)
    FIGURE 11 LFP BATTERY TYPE TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
    FIGURE 12 3,001–10,000 MAH SEGMENT TO DISPLAY MAXIMUM CAGR DURING FORECAST PERIOD
    FIGURE 13 AUTOMOTIVE SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
    FIGURE 14 ASIA PACIFIC TO LEAD GLOBAL LITHIUM-ION BATTERY MARKET DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 57)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN LITHIUM-ION BATTERY MARKET 
           FIGURE 15 GROWING DEMAND FOR LITHIUM-ION BATTERIES IN CONSUMER ELECTRONICS AND AUTOMOTIVE SECTORS TO DRIVE MARKET
    4.2 LITHIUM-ION BATTERY MARKET, BY TYPE 
           FIGURE 16 LFP SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.3 LITHIUM-ION BATTERY MARKET, BY APPLICATION 
           FIGURE 17 AUTOMOTIVE SEGMENT TO CAPTURE LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.4 LITHIUM-ION BATTERY MARKET IN NORTH AMERICA, BY APPLICATION AND COUNTRY 
           FIGURE 18 AUTOMOTIVE AND US TO HOLD LARGEST MARKET SHARE IN 2032
    4.5 LITHIUM-ION BATTERY MARKET, BY COUNTRY 
           FIGURE 19 CHINA TO DISPLAY HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 60)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 20 GLOBAL LITHIUM-ION BATTERY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 High demand for PHEVs
                               FIGURE 21 GLOBAL PHEV SALES, 2018–2022
                    5.2.1.2 Growing adoption of battery-operated material-handling equipment
                    5.2.1.3 Technological advancements in wearable electronics
                               FIGURE 22 LITHIUM-ION BATTERY MARKET: IMPACT ANALYSIS OF DRIVERS
           5.2.2 RESTRAINTS
                    5.2.2.1 Concerns regarding transportation and storage of spent batteries
                               FIGURE 23 LITHIUM-ION BATTERY MARKET: IMPACT ANALYSIS OF RESTRAINTS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Integration of renewable energy into grids
                    5.2.3.2 Increase in R&D efforts toward creating more advanced lithium-ion batteries
                    5.2.3.3 Decline in cost of lithium-ion batteries
                               FIGURE 24 LITHIUM-ION BATTERY MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
           5.2.4 CHALLENGES
                    5.2.4.1 High installation and maintenance costs
                    5.2.4.2 Aging and performance degradation in lithium-ion batteries
                               FIGURE 25 LITHIUM-ION BATTERY MARKET: IMPACT ANALYSIS OF CHALLENGES
    5.3 SUPPLY CHAIN ANALYSIS 
           FIGURE 26 LITHIUM-ION BATTERY SUPPLY CHAIN ANALYSIS
    5.4 ECOSYSTEM MAPPING 
           FIGURE 27 KEY PLAYERS IN LITHIUM-ION BATTERY ECOSYSTEM
           TABLE 2 LITHIUM-ION BATTERY ECOSYSTEM ANALYSIS
    5.5 PRICING ANALYSIS 
           5.5.1 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERY PACKS AND CELLS
                    FIGURE 28 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERY PACKS AND CELLS, 2013–2022
           5.5.2 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERY PACKS OFFERED BY KEY PLAYERS
                    FIGURE 29 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERY PACKS, BY KEY PLAYERS
                    TABLE 3 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERY PACKS OFFERED BY KEY PLAYERS
           5.5.3 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERY PACKS, BY REGION
                    TABLE 4 AVERAGE SELLING PRICES OF LITHIUM-ION BATTERY PACKS, BY REGION
    5.6 KEY INSIGHTS RELATED TO LITHIUM-ION BATTERY MARKET 
           5.6.1 TOP LITHIUM-PRODUCING COUNTRIES
                    TABLE 5 LITHIUM PRODUCTION, BY COUNTRY, 2021
           5.6.2 LITHIUM-ION CELL MANUFACTURING CAPACITY, BY COUNTRY
                    FIGURE 30 LITHIUM-ION CELL MANUFACTURING CAPACITY, BY COUNTRY, 2020 & 2025
    5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           FIGURE 31 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR PLAYERS IN LITHIUM-ION BATTERY MARKET
    5.8 TECHNOLOGY ANALYSIS 
           5.8.1 LITHIUM-SULFUR BATTERIES
           5.8.2 LITHIUM-SILICON BATTERIES
           5.8.3 ZINC-MANGANESE BATTERIES
           5.8.4 SODIUM-SULFUR BATTERIES
           5.8.5 SOLID-STATE BATTERIES
           5.8.6 METAL-AIR BATTERIES
           5.8.7 LIQUID-METAL BATTERIES
           5.8.8 POTASSIUM METAL BATTERIES
           5.8.9 VANADIUM FLOW BATTERIES
    5.9 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 6 LITHIUM-ION BATTERY MARKET: PORTER’S FIVE FORCES ANALYSIS
           FIGURE 32 LITHIUM-ION BATTERY MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.9.1 BARGAINING POWER OF SUPPLIERS
           5.9.2 BARGAINING POWER OF BUYERS
           5.9.3 THREAT OF NEW ENTRANTS
           5.9.4 THREAT OF SUBSTITUTES
           5.9.5 INTENSITY OF COMPETITIVE RIVALRY
    5.1 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 33 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS
                    TABLE 7 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
           5.10.2 BUYING CRITERIA
                    FIGURE 34 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
                    TABLE 8 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
    5.11 CASE STUDY ANALYSIS 
           5.11.1 TESLA ESTABLISHES HORNSDALE WIND FARM, AUSTRALIA, WITH LITHIUM-ION BATTERY STORAGE CAPACITY OF 100 MW?/OR 129 MWH TO ENSURE GRID STABILITY
           5.11.2 ALLCELL TECHNOLOGIES SUPPLIES 1,300 WH LITHIUM-ION BATTERIES TO PROVIDE ELECTRICAL CONNECTIONS TO SCHOOL IN ANGOLA, CENTRAL AFRICA
           5.11.3 EDIXE INDUSTRIES, LECLANCHE, AND TPDDL JOIN HANDS TO LAUNCH GRID-CONNECTED LI-ION BATTERY-POWERED COMMUNITY ENERGY STORAGE SYSTEM
           5.11.4 MARSHALL SPACE FLIGHT CENTER, NASA, AWARDS CONTRACT TO KULR TECHNOLOGY GROUP TO BUILD 3D-PRINTED BATTERY SYSTEMS FOR SPACE APPLICATIONS
           5.11.5 DA WAN QU PARTNERS WITH CATL TO BUILD DIESEL- AND LI-ION BATTERY-POWERED HYBRID POWER SYSTEMS ON CRUISE SHIP
    5.12 TRADE ANALYSIS 
           5.12.1 IMPORT SCENARIO
                    FIGURE 35 IMPORT DATA OF LITHIUM CELLS AND BATTERIES, BY COUNTRY, 2018–2022 (USD MILLION)
           5.12.2 EXPORT SCENARIO
                    FIGURE 36 EXPORT DATA OF LITHIUM CELLS AND BATTERIES, BY COUNTRY, 2018–2022 (USD MILLION)
    5.13 PATENT ANALYSIS 
           FIGURE 37 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
           TABLE 9 TOP 20 PATENT OWNERS IN US IN LAST 10 YEARS, 2013-2022
           FIGURE 38 NUMBER OF PATENTS GRANTED PER YEAR FROM 2013 TO 2022
           TABLE 10 LITHIUM-ION BATTERY MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2021–2023
    5.14 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 11 LITHIUM-ION BATTERY MARKET: LIST OF CONFERENCES AND EVENTS
    5.15 STANDARDS AND REGULATORY LANDSCAPE 
           5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 12 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 14 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 15 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.15.2 STANDARDS AND REGULATIONS
                    TABLE 16 STANDARDS AND REGULATIONS
 
6 MATERIALS USED IN LITHIUM-ION BATTERIES (Page No. - 92)
    6.1 INTRODUCTION 
           TABLE 17 KEY MATERIALS USED IN LITHIUM-ION BATTERIES
    6.2 CATHODE 
           6.2.1 CATHODE MATERIALS FOR LITHIUM-ION BATTERIES
                    6.2.1.1 Lithium iron phosphate
                    6.2.1.2 Lithium cobalt oxide
                    6.2.1.3 Lithium nickel manganese cobalt
                    6.2.1.4 Lithium nickel cobalt aluminum oxide
                    6.2.1.5 Lithium manganese oxide
    6.3 ANODE 
           6.3.1 ANODE MATERIALS FOR LITHIUM-ION BATTERIES
                    6.3.1.1 Natural graphite
                    6.3.1.2 Artificial graphite
                    6.3.1.3 Other anode materials
    6.4 ELECTROLYTE 
    6.5 SEPARATOR 
    6.6 CURRENT COLLECTOR 
    6.7 OTHER MATERIALS 
 
7 LITHIUM-ION BATTERY COMPONENTS AND PRODUCT TYPES (Page No. - 96)
    7.1 INTRODUCTION 
    7.2 COMPONENTS OF LITHIUM-ION BATTERIES 
           7.2.1 CELLS
                    7.2.1.1 Easy installation of cell-type lithium-ion batteries in consumer electronics to support market growth
           7.2.2 BATTERY PACKS
                    7.2.2.1 Increased use of lithium-ion batteries in high-power applications to support segmental growth
    7.3 PRODUCT TYPE 
           7.3.1 STATIONARY
                    7.3.1.1 Growing demand for renewable energy storage systems to boost segmental growth
           7.3.2 PORTABLE
                    7.3.2.1 Rising demand for consumer devices to support market growth
 
8 LITHIUM-ION BATTERY MARKET, BY TYPE (Page No. - 99)
    8.1 INTRODUCTION 
           FIGURE 39 LITHIUM-ION BATTERY MARKET, BY TYPE
           TABLE 18 COMPARISON OF LITHIUM-ION BATTERY TYPES BASED ON DIFFERENT PARAMETERS
           FIGURE 40 NMC SEGMENT TO DISPLAY HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 19 LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD BILLION)
           TABLE 20 LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD BILLION)
    8.2 LITHIUM NICKEL MANGANESE COBALT (NMC) 
           8.2.1 LOW SELF-HEATING RATE TO DRIVE ADOPTION
                    FIGURE 41 PERFORMANCE PARAMETERS OF NMC BATTERIES
                    TABLE 21 NMC: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 22 NMC: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
    8.3 LITHIUM IRON PHOSPHATE (LFP) 
           8.3.1 GROWING DEPLOYMENT IN HEVS AND PHEVS TO BOOST DEMAND
                    FIGURE 42 PERFORMANCE PARAMETERS OF LFP BATTERIES
                    TABLE 23 LFP: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 24 LFP: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
    8.4 LITHIUM COBALT OXIDE (LCO) 
           8.4.1 INCREASING DEPLOYMENT AS POWER SOURCE IN CONSUMER ELECTRONICS TO DRIVE MARKET
                    FIGURE 43 PERFORMANCE PARAMETERS OF LCO BATTERIES
                    TABLE 25 LCO: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 26 LCO: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
    8.5 LITHIUM TITANATE OXIDE (LTO) 
           8.5.1 HIGH SECURITY AND STABILITY DUE TO LOW OPERATING VOLTAGE TO BOOST DEMAND
                    FIGURE 44 PERFORMANCE PARAMETERS OF LTO BATTERIES
                    TABLE 27 LTO: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 28 LTO: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
    8.6 LITHIUM MANGANESE OXIDE (LMO) 
           8.6.1 LOW INTERNAL RESISTANCE AND HIGH THERMAL STABILITY TO DRIVE SEGMENTAL GROWTH
                    FIGURE 45 PERFORMANCE PARAMETERS OF LMO BATTERIES
                    TABLE 29 LMO: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 30 LMO: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
    8.7 LITHIUM NICKEL COBALT ALUMINUM OXIDE (NCA) 
           8.7.1 POWER AND AUTOMOTIVE INDUSTRIES TO OFFER LUCRATIVE GROWTH OPPORTUNITIES
                    FIGURE 46 PERFORMANCE PARAMETERS OF NCA BATTERIES
                    TABLE 31 NCA: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 32 NCA: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
 
9 LITHIUM-ION BATTERY MARKET, BY CAPACITY (Page No. - 111)
    9.1 INTRODUCTION 
           FIGURE 47 LITHIUM-ION BATTERY MARKET, BY CAPACITY
           FIGURE 48 3,001–10,000 MAH SEGMENT TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 33 LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2019–2022 (USD BILLION)
                    TABLE 34 LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2023–2032 (USD BILLION)
    9.2 BELOW 3,000 MAH 
           9.2.1 INTEGRATION INTO POWER COMPACT ELECTRONIC DEVICES TO FOSTER SEGMENTAL GROWTH
                    TABLE 35 BELOW 3,000 MAH: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 36 BELOW 3,000 MAH: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
    9.3 3,001–10,000 MAH 
           9.3.1 BOOMING SMARTPHONE MARKET TO DRIVE DEMAND
                    TABLE 37 3,001–10,000 MAH: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 38 3,001–10,000 MAH: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
    9.4 10,001–60,000 MAH 
           9.4.1 GROWING DEPLOYMENT OF LI-ION BATTERIES WITH MORE THAN 10,000 MAH CAPACITY IN MILITARY EQUIPMENT TO BOOST SEGMENTAL GROWTH
                    TABLE 39 10,001–60,000 MAH: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 40 10,001–60,000 MAH: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
    9.5 ABOVE 60,000 MAH 
           9.5.1 INCREASING USE OF HIGH-CAPACITY LI-ION BATTERIES TO POWER INDUSTRIAL MACHINES TO FUEL MARKET GROWTH
                    TABLE 41 ABOVE 60,000 MAH: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 42 ABOVE 60,000 MAH: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
 
10 LITHIUM-ION BATTERY MARKET, BY VOLTAGE (Page No. - 119)
     10.1 INTRODUCTION 
             FIGURE 49 LITHIUM-ION BATTERY MARKET, BY VOLTAGE
             FIGURE 50 HIGH VOLTAGE SEGMENT TO CAPTURE LARGEST MARKET SHARE DURING FORECAST PERIOD
             TABLE 43 LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2019–2022 (USD BILLION)
             TABLE 44 LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2023–2032 (USD BILLION)
     10.2 LOW 
             10.2.1 BUILT-IN BATTERY MANAGEMENT TO DRIVE DEMAND AMONG CONSUMER ELECTRONICS
     10.3 MEDIUM 
             10.3.1 RISING ADOPTION IN SOLAR ENERGY SYSTEMS TO DRIVE MARKET
     10.4 HIGH 
             10.4.1 ENHANCED SAFETY FEATURES TO BOOST DEMAND FROM MARINE AND MILITARY SECTORS
 
11 LITHIUM-ION BATTERY MARKET, BY APPLICATION (Page No. - 123)
     11.1 INTRODUCTION 
             FIGURE 51 LITHIUM-ION BATTERY MARKET, BY APPLICATION
             FIGURE 52 AUTOMOTIVE SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
             TABLE 45 LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
             TABLE 46 LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD BILLION)
     11.2 CONSUMER ELECTRONICS 
             11.2.1 GROWING POPULARITY OF ELECTRONIC DEVICES TO BOOST SEGMENTAL GROWTH
             11.2.2 SMARTPHONES
                        11.2.2.1 Rising power demands of modern-day smartphones to drive market
             11.2.3 LAPTOPS
                        11.2.3.1 Increasing demand for slim and small-sized laptops equipped with li-ion batteries to drive market
             11.2.4 OTHERS
                        TABLE 47 CONSUMER ELECTRONICS: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 48 CONSUMER ELECTRONICS: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                        TABLE 49 CONSUMER ELECTRONICS: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2019–2022 (USD MILLION)
                        TABLE 50 CONSUMER ELECTRONICS: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2023–2032 (USD MILLION)
                        TABLE 51 CONSUMER ELECTRONICS: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2019–2022 (USD MILLION)
                        TABLE 52 CONSUMER ELECTRONICS: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2023–2032 (USD MILLION)
                        TABLE 53 CONSUMER ELECTRONICS: LITHIUM-ION BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 54 CONSUMER ELECTRONICS: LITHIUM-ION BATTERY MARKET, BY REGION, 2023–2032 (USD MILLION)
     11.3 AUTOMOTIVE 
             11.3.1 GROWING ADOPTION OF HEVS AND PHEVS TO DRIVE DEMAND FOR LI-ION BATTERIES
             11.3.2 PLUG-IN HYBRID ELECTRIC VEHICLES
                        11.3.2.1 Stringent government guidelines pertaining to carbon emissions to drive market
                                     TABLE 55 AUTOMOTIVE: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                     TABLE 56 AUTOMOTIVE: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                                     TABLE 57 AUTOMOTIVE: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2019–2022 (USD MILLION)
                                     TABLE 58 AUTOMOTIVE: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2023–2032 (USD MILLION)
                                     TABLE 59 AUTOMOTIVE: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2019–2022 (USD MILLION)
                                     TABLE 60 AUTOMOTIVE: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2023–2032 (USD MILLION)
                                     TABLE 61 AUTOMOTIVE: LITHIUM-ION BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION)
                                     TABLE 62 AUTOMOTIVE: LITHIUM-ION BATTERY MARKET, BY REGION, 2023–2032 (USD MILLION)
     11.4 AEROSPACE 
             11.4.1 NEED FOR SAFE AND COST-EFFECTIVE POWER SOURCES IN AEROSPACE APPLICATIONS TO DRIVE DEMAND
             11.4.2 COMMERCIAL AIRCRAFT
                        11.4.2.1 Enhanced performance and safety in aircraft systems with li-ion batteries to boost segmental growth
                                     TABLE 63 AEROSPACE: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                     TABLE 64 AEROSPACE: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                                     TABLE 65 AEROSPACE: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2019–2022 (USD MILLION)
                                     TABLE 66 AEROSPACE: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2023–2032 (USD MILLION)
                                     TABLE 67 AEROSPACE: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2019–2022 (USD MILLION)
                                     TABLE 68 AEROSPACE: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2023–2032 (USD MILLION)
                                     TABLE 69 AEROSPACE: LITHIUM-ION BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION)
                                     TABLE 70 AEROSPACE: LITHIUM-ION BATTERY MARKET, BY REGION, 2023–2032 (USD MILLION)
     11.5 MARINE 
             11.5.1 INCREASING PREFERENCE FOR LFP BATTERIES IN MARINE APPLICATIONS TO SUPPORT GROWTH
             11.5.2 COMMERCIAL
                        11.5.2.1 Need to reduce carbon emissions in commercial shipping to boost demand
             11.5.3 TOURISM
                        11.5.3.1 Sustainable tourism through electric boats to drive demand
                                     TABLE 71 MARINE: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                     TABLE 72 MARINE: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                                     TABLE 73 MARINE: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2019–2022 (USD MILLION)
                                     TABLE 74 MARINE: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2023–2032 (USD MILLION)
                                     TABLE 75 MARINE: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2019–2022 (USD MILLION)
                                     TABLE 76 MARINE: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2023–2032 (USD MILLION)
                                     TABLE 77 MARINE: LITHIUM-ION BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION)
                                     TABLE 78 MARINE: LITHIUM-ION BATTERY MARKET, BY REGION, 2023–2032 (USD MILLION)
     11.6 MEDICAL 
             11.6.1 NEED FOR RELIABLE POWER IN BATTERY-BASED MEDICAL DEVICES TO DRIVE MARKET
                        TABLE 79 MEDICAL: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 80 MEDICAL: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                        TABLE 81 MEDICAL: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2019–2022 (USD MILLION)
                        TABLE 82 MEDICAL: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2023–2032 (USD MILLION)
                        TABLE 83 MEDICAL: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2019–2022 (USD MILLION)
                        TABLE 84 MEDICAL: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2023–2032 (USD MILLION)
                        TABLE 85 MEDICAL: LITHIUM-ION BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 86 MEDICAL: LITHIUM-ION BATTERY MARKET, BY REGION, 2023–2032 (USD MILLION)
     11.7 INDUSTRIAL 
             11.7.1 INCREASING EMPHASIS ON ENVIRONMENT SAFETY AND ENHANCING DURABILITY OF MINING AND CONSTRUCTION EQUIPMENT TO DRIVE MARKET
             11.7.2 MINING EQUIPMENT
                        11.7.2.1 Need to reduce carbon footprint in mining industry to boost demand
             11.7.3 CONSTRUCTION EQUIPMENT
                        11.7.3.1 Implementation of lithium-ion battery-powered machinery in construction operations to foster segmental growth
             11.7.4 FORKLIFTS, AUTOMATED GUIDED VEHICLES, AND AUTOMATED MOBILE ROBOTS
                        11.7.4.1 Focus on reducing labor costs and increasing productivity through multi-shift applications to fuel demand
                                     TABLE 87 INDUSTRIAL: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                                     TABLE 88 INDUSTRIAL: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                                     TABLE 89 INDUSTRIAL: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2019–2022 (USD MILLION)
                                     TABLE 90 INDUSTRIAL: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2023–2032 (USD MILLION)
                                     TABLE 91 INDUSTRIAL: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2019–2022 (USD MILLION)
                                     TABLE 92 INDUSTRIAL: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2023–2032 (USD MILLION)
                                     TABLE 93 INDUSTRIAL: LITHIUM-ION BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION)
                                     TABLE 94 INDUSTRIAL: LITHIUM-ION BATTERY MARKET, BY REGION, 2023–2032 (USD MILLION)
     11.8 POWER 
             11.8.1 ADVANTAGES OF LITHIUM-ION BATTERIES IN GRID APPLICATIONS TO BOOST MARKET
                        TABLE 95 POWER: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 96 POWER: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                        TABLE 97 POWER: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2019–2022 (USD MILLION)
                        TABLE 98 POWER: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2023–2032 (USD MILLION)
                        TABLE 99 POWER: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2019–2022 (USD MILLION)
                        TABLE 100 POWER: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2023–2032 (USD MILLION)
                        TABLE 101 POWER: LITHIUM-ION BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 102 POWER: LITHIUM-ION BATTERY MARKET, BY REGION, 2023–2032 (USD MILLION)
     11.9 TELECOMMUNICATIONS 
             11.9.1 ENHANCED COMMUNICATION BASE STATION STABILITY WITH LITHIUM-ION BATTERIES TO STRENGTHEN MARKET
                        TABLE 103 TELECOMMUNICATIONS: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 104 TELECOMMUNICATIONS: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                        TABLE 105 TELECOMMUNICATIONS: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2019–2022 (USD MILLION)
                        TABLE 106 TELECOMMUNICATIONS: LITHIUM-ION BATTERY MARKET, BY CAPACITY, 2023–2032 (USD MILLION)
                        TABLE 107 TELECOMMUNICATIONS: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2019–2022 (USD MILLION)
                        TABLE 108 TELECOMMUNICATIONS: LITHIUM-ION BATTERY MARKET, BY VOLTAGE, 2023–2032 (USD MILLION)
                        TABLE 109 TELECOMMUNICATIONS: LITHIUM-ION BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 110 TELECOMMUNICATIONS: LITHIUM-ION BATTERY MARKET, BY REGION, 2023–2032 (USD MILLION)
 
12 LITHIUM-ION BATTERY MARKET, BY REGION (Page No. - 152)
     12.1 INTRODUCTION 
             FIGURE 53 LITHIUM-ION BATTERY MARKET, BY REGION
             FIGURE 54 CHINA TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
             TABLE 111 LITHIUM-ION BATTERY MARKET, BY REGION, 2019–2022 (USD BILLION)
             TABLE 112 LITHIUM-ION BATTERY MARKET, BY REGION, 2023–2032 (USD BILLION)
     12.2 NORTH AMERICA 
             12.2.1 NORTH AMERICA: RECESSION IMPACT
                        FIGURE 55 NORTH AMERICA: LITHIUM-ION BATTERY MARKET SNAPSHOT
                        FIGURE 56 US TO ACCOUNT FOR LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD
                        TABLE 113 NORTH AMERICA: LITHIUM-ION BATTERY MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
                        TABLE 114 NORTH AMERICA: LITHIUM-ION BATTERY MARKET, BY COUNTRY, 2023–2032 (USD BILLION)
                        TABLE 115 NORTH AMERICA: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 116 NORTH AMERICA: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                        TABLE 117 NORTH AMERICA: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 118 NORTH AMERICA: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
             12.2.2 US
                        12.2.2.1 Public-private alliance to strengthen domestic manufacturing base for clean energy future to drive market
             12.2.3 CANADA
                        12.2.3.1 Abundance of cobalt, lithium, and nickel materials to create lucrative opportunities for battery providers
             12.2.4 MEXICO
                        12.2.4.1 Increasing investments in lithium-ion battery manufacturing to drive market
     12.3 EUROPE 
             12.3.1 EUROPE: RECESSION IMPACT
                        FIGURE 57 EUROPE: LITHIUM-ION BATTERY MARKET SNAPSHOT
                        FIGURE 58 GERMANY TO RECORD HIGHEST CAGR IN EUROPEAN LITHIUM-ION BATTERY MARKET DURING FORECAST PERIOD
                        TABLE 119 EUROPE: LITHIUM-ION BATTERY MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
                        TABLE 120 EUROPE: LITHIUM-ION BATTERY MARKET, BY COUNTRY, 2023–2032 (USD BILLION)
                        TABLE 121 EUROPE: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 122 EUROPE: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                        TABLE 123 EUROPE: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 124 EUROPE: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
             12.3.2 GERMANY
                        12.3.2.1 High focus on strengthening renewable energy sector to drive market
             12.3.3 UK
                        12.3.3.1 Adoption of new electrification approaches to fuel market
             12.3.4 FRANCE
                        12.3.4.1 Strategic focus on developing lithium industry to meet rising demand for EV batteries to foster market growth
             12.3.5 REST OF EUROPE
     12.4 ASIA PACIFIC 
             12.4.1 ASIA PACIFIC: RECESSION IMPACT
                        FIGURE 59 ASIA PACIFIC: LITHIUM-ION BATTERY MARKET SNAPSHOT
                        FIGURE 60 CHINA TO GAIN LARGEST MARKET SHARE OF ASIA PACIFIC THROUGHOUT FORECAST PERIOD
                        TABLE 125 ASIA PACIFIC: LITHIUM-ION BATTERY MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
                        TABLE 126 ASIA PACIFIC: LITHIUM-ION BATTERY MARKET, BY COUNTRY, 2023–2032 (USD BILLION)
                        TABLE 127 ASIA PACIFIC: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 128 ASIA PACIFIC: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                        TABLE 129 ASIA PACIFIC: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 130 ASIA PACIFIC: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
             12.4.2 CHINA
                        12.4.2.1 Dominance in supply chain of battery ecosystem to bolster market
             12.4.3 JAPAN
                        12.4.3.1 Strong presence of key lithium-ion battery manufacturers to drive market
             12.4.4 INDIA
                        12.4.4.1 Recent lithium discoveries to open up new market opportunities for market players
             12.4.5 AUSTRALIA
                        12.4.5.1 Growing demand for lithium batteries from automotive sector to bolster market growth
             12.4.6 INDONESIA
                        12.4.6.1 Attractive destination for lithium -ion battery manufacturers to drive market
             12.4.7 THAILAND
                        12.4.7.1 Increasing number of new test centers and manufacturing plants to fuel market growth
             12.4.8 REST OF ASIA PACIFIC
     12.5 ROW 
             12.5.1 ROW: RECESSION IMPACT
                        FIGURE 61 SOUTH AMERICA TO DOMINATE ROW MARKET FROM 2023 TO 2028
                        TABLE 131 ROW: LITHIUM-ION BATTERY MARKET, BY REGION, 2019–2022 (USD BILLION)
                        TABLE 132 ROW: LITHIUM-ION BATTERY MARKET, BY REGION, 2023–2032 (USD BILLION)
                        TABLE 133 ROW: LITHIUM-ION BATTERY MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 134 ROW: LITHIUM-ION BATTERY MARKET, BY TYPE, 2023–2032 (USD MILLION)
                        TABLE 135 ROW: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 136 ROW: LITHIUM-ION BATTERY MARKET, BY APPLICATION, 2023–2032 (USD MILLION)
             12.5.2 MIDDLE EAST & AFRICA
                        12.5.2.1 Surging investments in advanced technologies for generating green and renewable energy to drive market
             12.5.3 SOUTH AMERICA
                        12.5.3.1 Power infrastructure modernization and renewable energy targets to boost demand
 
13 COMPETITIVE LANDSCAPE (Page No. - 180)
     13.1 OVERVIEW 
     13.2 KEY STRATEGIES ADOPTED BY MAJOR PLAYERS 
             TABLE 137 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS
     13.3 REVENUE ANALYSIS OF TOP FIVE COMPANIES, 2018–2022 
             FIGURE 62 LITHIUM-ION BATTERY MARKET: REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2018–2022
     13.4 MARKET SHARE ANALYSIS, 2022 
             TABLE 138 LITHIUM-ION BATTERY MARKET SHARE ANALYSIS (2022)
             FIGURE 63 SHARE OF KEY PLAYERS IN LITHIUM-ION BATTERY MARKET, 2022
     13.5 EVALUATION MATRIX FOR KEY COMPANIES, 2022 
             13.5.1 STARS
             13.5.2 EMERGING LEADERS
             13.5.3 PERVASIVE PLAYERS
             13.5.4 PARTICIPANTS
                        FIGURE 64 LITHIUM-ION BATTERY MARKET: COMPANY EVALUATION MATRIX, 2022
             13.5.5 COMPANY FOOTPRINT
           TABLE 139 LITHIUM-ION BATTERY MARKET: COMPANY FOOTPRINT
           TABLE 140 APPLICATION: COMPANY FOOTPRINT
           TABLE 141 REGIONAL: COMPANY FOOTPRINT
     13.6 EVALUATION MATRIX FOR STARTUPS/SMES, 2022 
             13.6.1 PROGRESSIVE COMPANIES
             13.6.2 RESPONSIVE COMPANIES
             13.6.3 DYNAMIC COMPANIES
             13.6.4 STARTING BLOCKS
                        FIGURE 65 LITHIUM-ION BATTERY MARKET: COMPANY EVALUATION MATRIX FOR STARTUPS/SMES, 2022
             13.6.5 COMPETITIVE BENCHMARKING
                        TABLE 142 LITHIUM-ION BATTERY MARKET: LIST OF KEY STARTUPS/SMES
                        TABLE 143 LITHIUM-ION BATTERY MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     13.7 COMPETITIVE SCENARIO AND TRENDS 
             13.7.1 LITHIUM-ION BATTERY MARKET: PRODUCT LAUNCHES, 2019–2023
             13.7.2 LITHIUM-ION BATTERY MARKET: DEALS, 2019–2023
 
14 COMPANY PROFILES (Page No. - 201)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*  
     14.1 KEY PLAYERS 
             14.1.1 LG ENERGY SOLUTION
                        TABLE 144 LG ENERGY SOLUTION: COMPANY OVERVIEW
                        FIGURE 66 LG ENERGY SOLUTION: COMPANY SNAPSHOT
                        TABLE 145 LG ENERGY SOLUTION: PRODUCTS OFFERED
                        TABLE 146 LG ENERGY SOLUTION: PRODUCT LAUNCHES
                        TABLE 147 LG ENERGY SOLUTION: DEALS
                        TABLE 148 LG ENERGY SOLUTION: OTHERS
             14.1.2 SAMSUNG SDI CO., LTD.
                        TABLE 149 SAMSUNG SDI CO., LTD.: COMPANY OVERVIEW
                        FIGURE 67 SAMSUNG SDI CO., LTD.: COMPANY SNAPSHOT
                        TABLE 150 SAMSUNG SDI CO., LTD.: PRODUCTS OFFERED
                        TABLE 151 SAMSUNG SDI CO., LTD.: OTHERS
             14.1.3 PANASONIC HOLDINGS CORPORATION
                        TABLE 152 PANASONIC HOLDINGS CORPORATION: COMPANY OVERVIEW
                        FIGURE 68 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT
                        TABLE 153 PANASONIC HOLDINGS CORPORATION: PRODUCTS OFFERED
                        TABLE 154 PANASONIC HOLDINGS CORPORATION: DEALS
                        TABLE 155 PANASONIC HOLDINGS CORPORATION: OTHERS
             14.1.4 BYD COMPANY LIMITED
                        TABLE 156 BYD COMPANY LIMITED.: COMPANY OVERVIEW
                        FIGURE 69 BYD COMPANY LIMITED: COMPANY SNAPSHOT
                        TABLE 157 BYD COMPANY LIMITED: PRODUCTS OFFERED
                        TABLE 158 BYD COMPANY LIMITED: DEALS
             14.1.5 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
                        TABLE 159 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: COMPANY OVERVIEW
                        FIGURE 70 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: COMPANY SNAPSHOT
                        TABLE 160 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: PRODUCTS OFFERED
                        TABLE 161 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: PRODUCT LAUNCHES
                        TABLE 162 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: DEALS
             14.1.6 CALB
                        TABLE 163 CALB: COMPANY OVERVIEW
                        TABLE 164 CALB: PRODUCTS OFFERED
                        TABLE 165 CALB: PRODUCT LAUNCHES
             14.1.7 CLARIOS
                        TABLE 166 CLARIOS.: COMPANY OVERVIEW
                        TABLE 167 CLARIOS: PRODUCTS OFFERED
             14.1.8 EVE ENERGY CO., LTD.
                        TABLE 168 EVE ENERGY CO., LTD.: COMPANY OVERVIEW
                        FIGURE 71 EVE ENERGY CO., LTD.: COMPANY SNAPSHOT
                        TABLE 169 EVE ENERGY CO., LTD.: PRODUCTS OFFERED
                        TABLE 170 EVE ENERGY CO., LTD.: PRODUCT LAUNCHES
                        TABLE 171 EVE ENERGY CO., LTD.: DEALS
             14.1.9 GS YUASA CORPORATION
                        TABLE 172 GS YUASA CORPORATION: COMPANY OVERVIEW
                        FIGURE 72 GS YUASA CORPORATION: COMPANY SNAPSHOT
                        TABLE 173 GS YUASA CORPORATION: PRODUCTS OFFERED
                        TABLE 174 GS YUASA CORPORATION: DEALS
             14.1.10 HITACHI, LTD.
                        TABLE 175 HITACHI, LTD.: COMPANY OVERVIEW
                        FIGURE 73 HITACHI, LTD.: COMPANY SNAPSHOT
                        TABLE 176 HITACHI, LTD.: PRODUCTS OFFERED
                        TABLE 177 HITACHI, LTD.: PRODUCT LAUNCHES
                        TABLE 178 HITACHI, LTD.: DEALS
             14.1.11 SHENZHEN BAK BATTERY CO., LTD.
                        TABLE 179 SHENZHEN BAK BATTERY CO., LTD.: COMPANY OVERVIEW
                        TABLE 180 SHENZHEN BAK BATTERY CO., LTD.: PRODUCTS OFFERED
                        TABLE 181 SHENZHEN BAK BATTERY CO., LTD.: PRODUCT LAUNCHES
                        TABLE 182 SHENZHEN BAK BATTERY CO., LTD.: DEALS
                        TABLE 183 SHENZHEN BAK BATTERY CO., LTD.: OTHERS
             14.1.12 SK INNOVATION CO., LTD.
                        TABLE 184 SK INNOVATION CO., LTD.: COMPANY OVERVIEW
                        FIGURE 74 SK INNOVATION CO., LTD.: COMPANY SNAPSHOT
                        TABLE 185 SK INNOVATION CO., LTD.: PRODUCTS OFFERED
                        TABLE 186 SK INNOVATION CO., LTD.: DEALS
             14.1.13 TESLA, INC.
                        TABLE 187 TESLA, INC.: COMPANY OVERVIEW
                        FIGURE 75 TESLA, INC.: COMPANY SNAPSHOT
                        TABLE 188 TESLA, INC.: PRODUCTS OFFERED
                        TABLE 189 TESLA, INC.: OTHERS
             14.1.14 TOSHIBA CORPORATION
                        TABLE 190 TOSHIBA CORPORATION: COMPANY OVERVIEW
                        FIGURE 76 TOSHIBA CORPORATION: COMPANY SNAPSHOT
                        TABLE 191 TOSHIBA CORPORATION: PRODUCTS OFFERED
                        TABLE 192 TOSHIBA CORPORATION: PRODUCT LAUNCHES
                        TABLE 193 TOSHIBA CORPORATION: DEALS
     14.2 OTHER PLAYERS 
             14.2.1 AESC
             14.2.2 AMPEREX TECHNOLOGY LIMITED
             14.2.3 FARASIS ENERGY (GANZHOU) CO., LTD.
             14.2.4 GUOXUAN HIGH-TECH CO., LTD.
             14.2.5 IPOWER BATTERIES PVT LTD.
             14.2.6 LITHIUM WERKS
             14.2.7 NEXTERA ENERGY, INC.
             14.2.8 NORTHVOLT AB
             14.2.9 SAFT GROUPE SAS
             14.2.10 SILA NANOTECHNOLOGIES INC.
             14.2.11 SOLAREDGE TECHNOLOGIES INC.
             14.2.12 VARTA AG
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.  
 
15 ADJACENT AND RELATED MARKETS (Page No. - 255)
     15.1 INTRODUCTION 
     15.2 MICRO BATTERY MARKET: BY REGION 
             15.2.1 INTRODUCTION
                        TABLE 194 MICRO BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 195 MICRO BATTERY MARKET, BY REGION, 2023–2028 (USD MILLION)
             15.2.2 NORTH AMERICA
                        TABLE 196 NORTH AMERICA: MICRO BATTERY MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 197 NORTH AMERICA: MICRO BATTERY MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                        15.2.2.1 US
                                     15.2.2.1.1 Growing demand for smart packaging to increase adoption of micro batteries
                        15.2.2.2 Canada
                                     15.2.2.2.1 Increased adoption of IoT technology in medical sector to fuel market growth
                        15.2.2.3 Mexico
                                     15.2.2.3.1 Growing demand for consumer electronics to drive market
 
16 APPENDIX (Page No. - 259)
     16.1 INSIGHTS FROM INDUSTRY EXPERTS 
     16.2 DISCUSSION GUIDE 
     16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     16.4 CUSTOMIZATION OPTIONS 
     16.5 RELATED REPORTS 
     16.6 AUTHOR DETAILS 
 

 

The study involved four major activities in estimating the current size of the lithium-ion battery market. Exhaustive secondary research has been done to collect information on the market, peer, and parent markets. The next step has been to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the total market size. After that, market breakdown and data triangulation methods were used to estimate the market size of segments and subsegments. Two sources of information—secondary and primary—have been used to identify and collect information for an extensive technical and commercial study of the lithium-ion battery market.

Secondary Research

Secondary sources include company websites, magazines, industry news, associations, and databases (Factiva and Bloomberg). These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and databases.

Primary Research

Primary sources mainly consist of several experts from the core and related industries, along with preferred lithium-ion battery providers, distributors, alliances, standards, and certification organizations related to various segments of this industry’s value chain.

In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts such as Chief Experience Officers (CXOs), Vice Presidents (VPs), and Directors from business development, marketing, product development/innovation teams, and related key executives from lithium-ion battery providers, such as LG Energy Solution (South Korea). Samsung SDI Co. Ltd.  (South Korea), and Panasonic Holdings Corporation (Japan); research organizations, distributors, industry associations, and key opinion leaders. Following is the breakdown of primary respondents.

Lithium-ion Battery Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the lithium-ion battery market. These methods have also been used extensively to estimate the size of various subsegments in the market. The following research methodology has been used to estimate the market size:

  • Major players in the industry and markets have been identified through extensive secondary research.
  • The industry’s value chain and market size (in terms of value) have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the overall market has been split into several segments and subsegments. The market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

Top-Down Approach

In the top-down approach, the overall market size has been used to estimate the size of the individual market segments (mentioned in market segmentation) through percentage splits from secondary and primary research. For specific market segments, the size of the most appropriate immediate parent market has been used to implement the top-down approach. The bottom-up approach has also been implemented for data obtained from secondary research to validate the market size of various segments.

Lithium-ion Battery Market: Top-down Approach

Lithium-ion Battery Market Size, and Top-down Approach

Bottom-Up Approach

The bottom-up approach has been used to arrive at the overall size of the lithium-ion battery market from the revenues of the key players and their market shares. Calculations based on revenues of key companies identified in the market led to the estimation of their overall market size.

Lithium-ion Battery Market: Bottom-up Approach

Lithium-ion Battery Market Size, and Bottom-up Approach

Market Definition

Lithium-ion battery is a rechargeable battery comprising lithium and various other materials, such as nickel, cobalt, and manganese. It is made up of three major components: cathode, anode, and electrolyte. In a lithium-ion battery, the lithium ions flow from the negative electrode to the positive electrode during discharge and in reverse while charging. Lithium-ion batteries are available in multiple variants, depending upon the materials that are combined with lithium such as cobalt, nickel, manganese, titanium, and iron. Consumer electronics, automotive, aerospace & defense, marine, medical, and power are some of the key application areas of lithium-ion batteries.

Key Stakeholders

  • Lithium-ion battery manufacturers
  • Government Bodies and Policymakers
  • Industry-standard Organizations, Forums, Alliances, and Associations
  • Market Research and Consulting Firms
  • Raw Material Suppliers and Distributors
  • Research Institutes and Organizations
  • Testing, Inspection, and Certification Providers
  • Distributors and Resellers
  • End Users

Report Objectives

  • To define and forecast the lithium-ion battery market regarding type, voltage, capacity, and application.
  • To describe and forecast the lithium-ion battery market and its value segments for four regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with their respective countries.
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze micro-markets concerning individual growth trends, prospects, and contributions to the overall market
  • To study the complete value chain of the lithium-ion battery market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the market
  • To strategically profile key players and comprehensively analyze their market position regarding ranking and core competencies, along with a detailed market competitive landscape.
  • To analyze strategic approaches such as agreements, collaborations, and partnerships in the lithium-ion battery market
  • To provide an analysis of the recession impact on the growth of the market and its segments

Available Customizations:

Based on the given market data, MarketsandMarkets offers customizations in the reports according to the client’s specific requirements. The available customization options are as follows:

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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