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Lithium-Ion Battery Market Size
- Report ID: GMI1135
- Published Date: Dec 2024
- Report Format: PDF
Lithium-Ion Battery Market Size
The global lithium-ion battery market was calculated at USD 74.7 billion in 2024 and is anticipated to witness a CAGR of 15.8% between 2025 and 2034. The market is experiencing significant growth due to the rising demand for electric vehicles (EVs). Automakers are adopting lithium-ion technology for its high energy density, lightweight nature, and long cycle life, which enhance vehicle performance and range. Governments worldwide are supporting EV adoption through incentives and stricter emissions regulations, further driving battery demand.
The rapid adoption of renewable energy sources like solar and wind has boosted the demand for lithium-ion batteries in energy storage systems. These batteries help store excess energy generated during peak production and ensure reliable power supply during demand surges. Their scalability and efficiency make them ideal for both residential and utility-scale energy storage projects. As the global focus on decarbonization intensifies, lithium-ion batteries are playing a pivotal role in stabilizing grids and enabling the transition to cleaner energy systems, positioning the market for robust growth in the renewable energy sector.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Lithium-Ion Battery Market Size in 2024: | USD 74.7 Billion |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2025 to 2034 CAGR: | 15.8% |
| 2034 Value Projection: | USD 328.1 Billion |
| Historical Data for: | 2021 to 2024 |
| No. of Pages: | 650 |
| Tables, Charts & Figures: | 53 |
| Segments covered: | Chemistry, Component, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Lithium-Ion Battery Market Scope
