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 escalating environmental concerns and rising greenhouse gas emissions, governments worldwide are advocating for the transition from traditional fossil fuel-powered vehicles to electric vehicles (EVs) in the automotive industry. Notable examples include France, the UK, and the Netherlands, which have set targets to ban the sale of diesel vehicles and implement a shift to EVs by 2040, 2040, and 2030, respectively. China, a significant player in the global automotive market, is also taking decisive actions to promote the adoption of EVs. The Chinese government is providing subsidies for EVs and implementing regulations to limit new ownership of diesel and petroleum cars. These initiatives are expected to significantly boost the demand for lithium-ion batteries, a critical component in the production of EVs. 

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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 aspects, including Energy Density and Specific Energy, Power Density and Specific Power, Internal Resistance, Self-Discharge Rate, Charge Efficiency, and Discharge Efficiency. Other key factors are Calendar Life, Battery Aging, State of Charge, and State of Health. Battery Monitoring, Diagnostics, Modeling, Simulation, Design, Assembly, Manufacturing, Production, and Supply Chain are integral parts of the industry. Market Segmentation, Applications, Research, Development, Innovation, Trends, and Future are essential elements driving the growth of the Lithium-Ion Battery Market. The industry involves Battery Technology, Solutions, Services, Consulting, Engineering, Science, Chemistry, Physics, Materials Science, Electrochemistry, and Nanotechnology.

Market Research Overview

The Lithium-Ion Battery Market is a significant segment within the larger renewable electricity market, encompassing businesses focused on Energy Storage, Electric Vehicles (EVs), and Hybrid Electric Vehicles (HEVs), as well as Consumer Electronics and Portable Devices. The market's expansion is driven by robust demand for advanced battery systems in renewable energy applications. Key growth factors include supportive government policies and ambitious targets for renewable energy adoption, which have fueled the increase in the deployment of solar, wind, and other renewable power sources. Additionally, the increasing popularity of EVs and HEVs, coupled with the growing reliance on battery technology for consumer electronics and portable devices, further bolsters market growth.. 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/