Latest News- Lithium-Ion Battery Market: Lithium nickel manganese cobalt is expected to lead the Type segment during 2025-2029

The Lithium-Ion Battery Market is being driven by Augmented demand from consumer electronics

The Lithium-Ion Battery Market is expected to grow at a CAGR of 34.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 405.1 billion. In response to growing environmental concerns and escalating greenhouse gas emissions, various governments are implementing measures to encourage the transition from traditional fossil fuel-powered vehicles to electric vehicles (EVs) in the automotive sector. Notable examples include France, the UK, and the Netherlands, which have set targets to ban the sale of diesel vehicles and introduce EVs by 2040, 2040, and 2030, respectively. China, a significant player in the global automotive market, is also taking initiatives to boost EV sales through subsidies and restrictions on new diesel and petrol car ownership. These actions underscore the increasing business opportunity for the Lithium-Ion Battery market, as the demand for EVs continues to rise. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Lithium nickel manganese cobalt
  • Lithium titanate
  • Lithium iron phosphate
  • Lithium cobalt oxide
• Application
  • Automotive
  • Consumer electronics
  • Others
• Voltage
  • Low (Below 12V)
  • Medium (12V - 36V)
  • High (Above 36V)
  • Low (Below 12V)
  • Medium (12V - 36V)
  • High (Above 36V)
• Capacity
  • Below 3,000 mAh
  • 3,001-10,000 mAh
  • 10,001-60,000 mAh
  • Above 60,000 mAh
  • Below 3,000 mAh
  • 3,001-10,000 mAh
  • 10,001-60,000 mAh
  • Above 60,000 mAh
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Sweden
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Augmented demand from consumer electronics
• Increased shipments of smart wearables
• Battery energy storage to address erratic nature of renewables

However, the market also witnesses some limitations, which are as follows:

• Growing popularity of fuel cell solutions
• Widening demand-supply gap with regard to lithium
• Restrictions on transporting lithium-ion batteries by air

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Market Scope in Lithium-Ion Battery Market Research Report

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Research Analysis Overview

The Lithium-Ion Battery Market encompasses various components such as cell architecture, separator membrane, and current collector, which significantly influence battery performance. The manufacturing process involves stringent safety standards to mitigate risks like thermal runaway and degradation mechanisms. Performance and durability testing, cost reduction, material selection, and sustainability metrics are crucial factors. Safety, sustainability, and environmental impact are key considerations. Battery lifespan depends on charging protocols, discharge curves, voltage profile, and battery monitoring. Failure analysis, electrochemical impedance, electrode porosity, surface area, particle size distribution, ion diffusion, mass transport, and chemical stability are essential for understanding battery behavior.

Market Research Overview

The Lithium-Ion Battery Market is a significant segment within the larger global renewable electricity market, encompassing companies specializing in anode and cathode material production, electrolyte composition research, battery management system development, and cell design. This market's expansion is fueled by the renewable electricity sector's growth, driven by supportive policies and targets for renewable power deployment. Renewable energy generation and distribution companies, including independent power producers, gas and power marketing specialists, and integrated energy merchants, are key market players. Additionally, manufacturers of raw materials and equipment for the solar power industry contribute to the market's size. The increasing adoption of renewables, spurred by ambitious targets and effective policies, underpins the market's growth trajectory.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/