Stratview Research has recently published a report on the Lithium-Ion Battery Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2022 to 2028.

The Lithium-Ion Battery Market is segmented by Material Type (Lithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Titanate Oxide, Lithium Manganese Oxide, and Lithium Nickel Cobalt Aluminum Oxide), by Product Type (Cell, Battery Pack), by Voltage Type (Low (Below 12V); Medium (12-36V); and High (Above 36V)), by Power Capacity Type (0 to 3,000 MAH; 3,000 to 10,000 MAH; 10,000 to 60,000 MAH; and Above 60,000 MAH), by Industry Type (Consumer Electronics, Automotive, Aerospace & Defense, Marine, Medical, Industrial, Power, and Telecommunication), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Lithium-Ion Battery Market Analysis:

Stratview Research’s report discusses the segment-wise current market condition. Also, it offers an estimation of future growth opportunities. As per the estimation, the Lithium-Ion Battery Market was estimated at USD 41.52 Billion in 2021 and is likely to grow at a CAGR of 15.2% during 2022-2028 to reach USD 111.79 Billion in 2028.

What is Lithium-ion battery?

A lithium-ion battery is abbreviated as LIB. It is a type of rechargeable battery. Such batteries have utility in portable electronics and electric vehicles. They have a growing demand as they are used in plug-in devices.

Some of the companies drive the market growth:

  • BYD Company
  • LG Chem
  • Panasonic Corporation
  • Samsung SDI
  • BAK Group
  • GS Yuasa Corporation
  • Hitachi
  • Johnson Controls
  • Toshiba Corporation
  • Lithium Werks.

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Segment Analysis

By Material Type

The market is segmented as lithium nickel manganese cobalt oxide, lithium iron phosphate, lithium cobalt oxide, lithium titanate oxide, lithium manganese oxide, and lithium nickel cobalt aluminum oxide. The lithium nickel manganese cobalt oxide segment held the largest share of the market in 2021, and is expected to remain dominant during the forecast period. The higher share of the segment is attributed to the growing demand for lithium nickel manganese cobalt oxide used in batteries of mobile phones, laptops, automotive, tablets, power tools, and electrical storage systems. In addition, the Lithium Cobalt oxide segment accounted for more than 28% market share in 2021.

By Region

In terms of regions, Asia-Pacific market accounted nearly 39% share in 2021 and estimated to be the largest market for lithium-ion batteries during the forecast period. The Asia-Pacific’s market is expected to expand with a lucrative CAGR owing to the well-established consumer electronics market in the region, especially in China. Further, the demand from the automotive industry in the region will also augment the regional growth. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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