Lithium-Ion (Li-Ion) Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

The lithium-ion (li-ion) market size has grown rapidly in recent years. It will grow from $53.17 billion in 2023 to $58.71 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to portable electronics boom, electric vehicles (evs), consumer electronics, energy storage, efficiency and sustainability.

The lithium-ion (li-ion) market size is expected to see strong growth in the next few years. It will grow to $85.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to electric aviation, energy transition, ev adoption growth, emerging markets, industrial and commercial applications. Major trends in the forecast period include solid-state batteries, battery recycling, fast charging technology, energy density improvements, advanced materials.

Market Overview -
The lithium-ion battery is a type of rechargeable battery with high energy density that uses lithium ions as a primary component of its electrolyte. Lithium-ion batteries are commonly used in electric vehicles, mobiles, laptops, power backups, and other electronic devices.

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Lithium-Ion Batteries Market Thrives On High Energy Density
The growth of the lithium-ion batteries market is mainly driven due to the presence of high energy density features in lithium-ion batteries. High energy density helps the lithium-ion battery to run for a longer period. Most of the lithium-ion batteries used in portable devices are cobalt-based which offers the highest energy density. The energy density of the lithium-ion batteries is 100-265 Wh/kg or 250-670 Wh/L, which is one of the highest energy densities of any battery technology. High energy density in a lithium-ion battery made it the most preferred battery to be used in mobile phones, laptops, cameras and automobiles. Therefore, positively impacting the growth of lithium-ion batteries market.

Competitive Landscape -
Major companies operating in the lithium-ion (li-ion) market include A123 Systems Inc., Automotive Energy Supply Corporation (AESC), LG Chem Ltd., Panasonic Corporation, Samsung SDI Co. Ltd., Toshiba Corporation, BYD Company Limited, Johnson Controls Inc., BAK Group (Shenzhen BAK Battery Co. Ltd.), Blue Energy Co. Ltd., Aviation Industry Corporation of China (AVIC), CBAK Energy Technology Co. Ltd., GS Yuasa Corporation, Hefei Guoxuan High-tech Power Energy Co. Ltd., Hitachi Chemical Co. Ltd., Johnson Controls International plc, Microvast Inc., Saft Batteries, Amperes Technology Co. Ltd., Tianjin Lishen Battery Joint-Stock Co. Ltd., Tianneng Power International Limited, eCobalt Solutions Inc., LG Energy Solution, SK Innovation Co. Ltd., Tesla Inc., Valence Technology Inc., EnerDel Inc., Lithium Werks B.V., Electrovaya Inc., Kokam Co. Ltd., Envision AESC Group Ltd., Farasis Energy Inc., Lishen Battery, Northvolt AB, VARTA AG, BMZ GmbH, Leclanché SA, EVE Energy Co. Ltd.

Increasing Focus On Introducing Batteries With Greater Discharge Capabilities To Gain A Competitive Edge
Major companies operating in the lithium-ion batteries market are focused on developing batteries with greater discharge capabilities such as Alliance I48-3.0 lithium-ion battery to gain a competitive edge in the market. Alliance I48-3.0 lithium-ion battery provides higher power, increased range, durability, and low maintenance. Using batteries with greater discharge capabilities can provide more power for high-demand applications, ensuring reliable performance when needed. For instance, in January 2022, American Battery Solutions Inc., a US-based manufacturer of industrial and commercial lithium-ion batteries, announced the launch of the Alliance I48-3.0 lithium-ion battery. This battery provides higher power, increased range, durability, and low maintenance for golf cars and other electric vehicles in an industry-standard GC2 size. This product's unique feature is its ability to withstand the rigors of high power with 350 Amp pulse and 120 Amp continuous discharge capabilities. This battery serves a wide range of applications, such as fleet maintenance, construction equipment, and battery-powered tools. The Alliance I48-3.0 stands out with its remarkable discharge capabilities, offering up to 75% more power compared to other standard-sized Lithium-Ion batteries. This impressive feature ensures enhanced durability and a longer lifespan.

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Key Segments -

The lithium-ion (li-ion) market covered in this report is segmented -

1) By Type: Lithium Nickel Manganese Cobalt (LI-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Titanate Oxide (LTO), Lithium Manganese Oxide (LMO), Lithium Nickel Cobalt Aluminum Oxide (NCA)
2) By Component: Cathode, Anode, Separators, Electrolytes, Aluminium foil, Copper foil, Other Components
3) By Application: Consumer Electronics, Automotive, Marine, Aerospace & Defense, Medical, Industrial, Power, Other Applications

Sub-Segments
By Power Capacity: 0 to 3000 Mah, 3000 to 10000mAH, 10000 to 60000 Mah, Above 60000mAH
By Chemistry: LFP, LCO, LTO, NMC, NCA, LMO

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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