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Lithium-Ion (Li-Ion) Market Trends, Growth, Exponential CAGR, Effective Strategies And Overview, Forecast To 2033
Lithium-Ion (Li-Ion) Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the lithium-ion (li-ion) industry. This report on lithium-ion (li-ion) market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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%.
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Key Market Players:
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
Market Drivers:
According to the Lithium-ion (li-ion) Market Report 2024 by The Business Research Company, 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.
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Market segments for lithium-ion (li-ion) include:
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, Aluminum foil, Copper foil, Other Components
3) By Application: Consumer Electronics, Automotive, Marine, Aerospace & Defense, Medical, Industrial, Power, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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