Lithium Ion Traction Batteries Market Set to Surge - Key Insights You Must Know

Lithium Ion Traction Batteries Market

The global market for Lithium Ion Traction Batteries was valued at US$ million in the year 2024 and is projected to reach a revised size of US$ million by 2031, growing at a CAGR of %during the forecast period.

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China"s policy on lithium-ion batteries mainly focuses on lithium-ion batteries. In 2015, in order to strengthen the management of lithium-ion battery industry and improve the development level of the industry, China formulated the Standard of Lithium-ion Battery Industry. the global sales of new energy vehicles reached 10.8 million units in 2022, with a year-on-year increase of 61.6%. In 2022, China new energy vehicle sales reached 6.8 million units, and the global share increased to 63.6%. In Q4 2022, sales penetration rate of China"s new energy vehicle reached 27%, while the global average penetration rate was only 15%. Europe penetration was 19%, and North America penetration rate was only 6%. Lithium batteries will fully benefit from the high growth of downstream demand. According to the Ministry of Industry and Information Technology, China"s lithium-ion battery production reached 750 GWh in 2022, up more than 130 percent year on year. Among them, the output of lithium energy storage battery exceeded 100 GWh, and the total output value of the industry exceeded 1.2 trillion yuan. The industrial application of lithium battery was also growing rapidly. In 2022, the loading capacity of new energy vehicle power battery was about 295 GWh, and the new energy vehicle power battery was about 295 GWh. According to our research, in 2022, the overall global lithium-ion battery shipments were 957GWh, a year-on-year increase of 70%. Global vehicle power battery (EV LIB) shipments were 684GWh, a year-on-year increase of 84%; Energy storage battery (ESS LIB) shipments were 159.3GWh, a year-on-year increase of 140%.

By Type
• 3,000-10,000 mAh
• 10,000-60,000 mAh
• 60,000 mAh and Above

By Application
• Passanger Cars
• Commercial Vehicle

Key Companies
LG Energy Solution, BYD, Panasonic, Samsung SDI, CATL SK Innovation, CALB, Gotion High-tech, BAK Group, Blue Energy, Hitachi

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