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Lithium Ion Batteries Market

Lithium Ion Batteries Market Trend, Opportunity, and Forecast Analysis, 2024-2032

Lithium Ion Batteries Market is segmented by Material, Type, Capacity, Voltage, Application, and by Region. KDMI analyst foresees market revenue to cross USD 189.2 Billion by 2032 by growing with a CAGR of 14.5% during 2024-2032.

Lithium Ion Batteries Market Highlights

The global lithium ion batteries market is expected to cross a value of USD 189.2 billion by the end of 2032. The market was valued at USD 58.4 billion in 2023 and is expected to expand at a CAGR of 14.5% between 2024-2032.

Over the mid-term, the surge in demand for hybrid and plug-in hybrid electric vehicles is the primary factor anticipated to drive the global lithium ion batteries market.
The high cost of raw materials is a major factor to challenge the market growth.
The Asia Pacific lithium ion batteries market is projected to dominate the global market.

Lithium Ion Batteries Market: Report Scope
Base Year	2023
Base Year Market Size	USD 58.4 Billion
Forecast Year	2024-2032
Forecast Year Market Size	USD 189.2 Billion
CAGR Value	14.5%
Lithium Ion Batteries Market Key Trends/Major Growth Drivers	Growing Adoption of Renewable Energy Expanding Demand for Portable Electronic Products Surge in Demand for Hybrid and Plug-In Hybrid Electric Vehicles
Restraint Factors	High Cost of Raw Materials Increasing Safety Concerns Related to Lithium-Ion Batteries
Lithium Ion Batteries Market Segmentation	By Material By Type By Capacity By Voltage By Application By Geography
Lithium Ion Batteries Market Key Players	Panasonic Corporation, LG Chem Ltd., Samsung SDI Co., Ltd., Contemporary Amperex Technology Co. Limited (CATL), Tesla, Inc., BYD Company Limited, Sony Corporation, Johnson Controls International plc, Envision AESC Group, Toshiba Corporation, A123 Systems LLC, SK Innovation Co., Ltd., and others.

Lithium Ion Batteries Market Outlook

A lithium-ion battery is a rechargeable battery commonly used in a variety of electronic devices, including smartphones, laptops, tablets, electric vehicles (EVs), and energy storage systems. It is a type of rechargeable battery in which lithium ions move from the negative electrode (anode) to the positive electrode (cathode) during discharge and back when charging.

One of the primary factors associated with the growth of the global lithium ion batteries market, according to our experts at KD Market Insights is the surge in demand for hybrid and plug-in hybrid electric vehicles. The International Energy Agency (IEA) recently stated that the share of electric cars in total sales has more than tripled in three years, from around 4% in the year 2020 to 14 in the year 2022. Lithium-ion batteries are the preferred choice for EV manufacturers due to their high energy density, long cycle life, and relatively low weight. Panasonic Corporation, LG Chem Ltd., Samsung SDI Co., Ltd. are some of the significant parties in the global market for lithium ion batteries.

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Lithium Ion Batteries Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global lithium ion batteries market are:

Growing Adoption of Renewable Energy: Backed by the increasing adoption of renewable energy sources, such as solar and wind power, which according to the IEA is expected to double by 2028 from 2022 to reach near to 710 GW capacity, the integration of these systems into the electricity grid creates a need for energy storage solutions to manage intermittency and ensure grid stability. Lithium-ion batteries play a crucial role in energy storage systems (ESS) by storing excess renewable energy during periods of low demand and releasing it during peak demand hours, thus supporting the growth of renewable energy deployment.
Expanding Demand for Portable Electronic Products: The rise in demand for portable electronic products, such as smartphones, laptops, tablets, wearable devices, and other such products, is contributing to the demand for compact, lightweight, and long-lasting lithium-ion batteries. According to the statistics by the Pew Research Center, in the United States alone, smartphone ownership reached 90% as of September 2023, up from 35% in May 2011. Moreover, our researchers at KD Market Insights predict that the number of smartphone users globally would reach near to 6500 million by 2030. As consumers seek devices with improved battery life and performance, manufacturers of portable electronic products would invest more in lithium-ion battery technology to meet these expectations, which is expected to drive the market growth.

Which Probable Factors Could Hamper the Growing Lithium Ion Batteries Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of lithium ion batteries are:

High Cost of Raw Materials: Lithium-ion batteries require rare and expensive materials such as lithium, cobalt, and nickel for their production. Fluctuations in the prices of these raw materials can significantly impact the overall cost of manufacturing lithium-ion batteries, affecting profit margins and market competitiveness.
Increasing Safety Concerns Related to Lithium-Ion Batteries: With several incidences recorded for the risk of thermal runaway, fire, and explosion of lithium-ion batteries, the safety concerns related to these batteries have been highly questionable, which is expected to pose significant challenges to the growth of the market in the coming years.

How is the Global Lithium Ion Batteries Market Segmented?

Our experts at KD Market Insights have segmented the global lithium ion batteries market as:

By Material	Cathode Anode Electrolyte Separator Current Collector Others
By Type	Lithium Nickel Manganese Cobalt Lithium Iron Phosphate Lithium Cobalt Oxide Lithium Titanate Oxide Lithium Manganese Oxide Lithium Nickel Cobalt Aluminum Oxide
By Capacity	Below 3,000 mAh 3,001 – 10,000 mAh 10,001 – 60,000 mAh More than 60,000 mAh
By Voltage	Low Medium High
By Application	Consumer Electronics Automotive Aerospace Marine Medical Industrial Power Telecommunications
By Region	North America U.S. Canada Europe U.K. Germany France Italy Spain Russia Rest of Europe Asia-Pacific Japan China India Indonesia Malaysia Australia Rest of Asia-Pacific Latin America Mexico Argentina Rest of Latin America Middle East and Africa

What are the Probable Factors Influencing the Asia Pacific Lithium Ion Batteries Market Forecast?

The Asia Pacific lithium ion batteries market is majorly driven by rise in demand for energy storage solutions to support the urban infrastructure development, along with the presence of several leading lithium-ion battery manufacturers and technology innovators in the region. Besides this, the Asia Pacific region is experiencing significant growth in electric vehicle adoption, driven by government incentives, environmental regulations, and increasing consumer awareness of electric mobility, which is also expected to drive the demand for these batteries in the near future.

As per our analysts at KD Market Insights, the following five players lead the Asia Pacific lithium ion batteries market growth:

Contemporary Amperex Technology Co. Limited (CATL)
LG Chem Ltd.
Panasonic Corporation
Samsung SDI Co., Ltd.
BYD Company Limited

Key Countries to Watch for in Asia Pacific Lithium Ion Batteries Market	Key Insights
China Lithium Ion Batteries Market to Register the Largest Regional Market Share in 2032	USD 22.7 Billion
India Lithium Ion Batteries Market to Grow with the Highest CAGR During 2024-2032	14.7%

Which Key Players Top the Global Lithium Ion Batteries Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global lithium ion batteries market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with lithium ion batteries market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global lithium ion batteries market share:

Panasonic Corporation
LG Chem Ltd.
Samsung SDI Co., Ltd.
Contemporary Amperex Technology Co. Limited (CATL)
Tesla, Inc.
BYD Company Limited
Sony Corporation
Johnson Controls International plc
Envision AESC Group
Toshiba Corporation
A123 Systems LLC
SK Innovation Co., Ltd.

What are the Recent Developments Observed in the Lithium Ion Batteries Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global lithium ion batteries market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, a team of Japanese researchers have announced that they have developed lithium-ion batteries that do not rely on cobalt and instead relies on a combination of elements in the electrodes, including lithium, nickel, manganese, silicon, and oxygen.

Further, Gotion shared that it would be investing USD 2 billion for building its EV battery production facility in Manteno, Illinois.

Research Methodology
Market Definition and List of Abbreviations
1. Executive Summary
2. Growth Drivers & Issues in Global Lithium Ion Battery Market
3. Global Lithium Ion Battery Market Trends
4. Opportunities in Global Lithium Ion Battery Market
5. Recent Industry Activities, 2019
6. Porter's Five Forces Analysis
7. Market Value Chain and Supply Chain Analysis
8. Products Average Price Analysis, By Country
9. Global Lithium Ion Battery Market Value & Forecast (USD Million), 2019-2025

10. Global Lithium Ion Battery Market Segmentation Analysis, By Type
10.1. Introduction
10.2. Market Attractiveness, By Type
10.3. BPS Analysis, By Type
10.4. Lithium cobalt oxide Market Value & Forecast (USD Million), 2019-2025
10.5. Lithium Manganese Oxide Market Value & Forecast (USD Million), 2019-2025
10.6. Lithium Iron Phosphate Market Value & Forecast (USD Million), 2019-2025
10.7. Lithium Nickel Manganese Cobalt Oxide Market Value & Forecast (USD Million), 2019-2025
10.8. Lithium Nickel Cobalt Aluminum Oxide Market Value & Forecast (USD Million), 2019-2025
10.9. Lithium Titanat Market Value & Forecast (USD Million), 2019-2025

11. Global Lithium Ion Battery Market Segmentation Analysis, By Application
11.1. Introduction
11.2. Market Attractiveness, By Application
11.3. BPS Analysis, By Application
11.4. Industrial Market Value & Forecast (USD Million), 2019-2025
11.4.1. Defense Market Value & Forecast (USD Million), 2019-2025
11.4.2. Heavy Industries Market Value & Forecast (USD Million), 2019-2025
11.4.3. Healthcare Market Value & Forecast (USD Million), 2019-2025
11.4.4. Power & Utility Market Value & Forecast (USD Million), 2019-2025
11.4.5. Marine Market Value & Forecast (USD Million), 2019-2025
11.4.6. Others Market Value & Forecast (USD Million), 2019-2025
11.5. Automotive Market Value & Forecast (USD Million), 2019-2025
11.5.1. Conventional Automotive Market Value & Forecast (USD Million), 2019-2025
11.5.2. Hybrid Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
11.5.3. Battery Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
11.6. Consumer Electronics Market Value & Forecast (USD Million), 2019-2025
11.7. Others Market Value & Forecast (USD Million), 2019-2025

12. Geographical Analysis
12.1. Introduction
12.2. North America Market Value & Forecast (USD Million), 2019-2025
12.2.1. By Type
12.2.1.1. Introduction
12.2.1.2. Market Attractiveness, By Type
12.2.1.3. BPS Analysis, By Type
12.2.1.4. Lithium cobalt oxide Market Value & Forecast (USD Million), 2019-2025
12.2.1.5. Lithium Manganese Oxide Market Value & Forecast (USD Million), 2019-2025
12.2.1.6. Lithium Iron Phosphate Market Value & Forecast (USD Million), 2019-2025
12.2.1.7. Lithium Nickel Manganese Cobalt Oxide Market Value & Forecast (USD Million), 2019-2025
12.2.1.8. Lithium Nickel Cobalt Aluminum Oxide Market Value & Forecast (USD Million), 2019-2025
12.2.1.9. Lithium Titanat Market Value & Forecast (USD Million), 2019-2025
12.2.2. By Application
12.2.2.1. Introduction
12.2.2.2. Market Attractiveness, By Application
12.2.2.3. BPS Analysis, By Application
12.2.2.4. Industrial Market Value & Forecast (USD Million), 2019-2025
12.2.2.4.1. Defense Market Value & Forecast (USD Million), 2019-2025
12.2.2.4.2. Heavy Industries Market Value & Forecast (USD Million), 2019-2025
12.2.2.4.3. Healthcare Market Value & Forecast (USD Million), 2019-2025
12.2.2.4.4. Power & Utility Market Value & Forecast (USD Million), 2019-2025
12.2.2.4.5. Marine Market Value & Forecast (USD Million), 2019-2025
12.2.2.4.6. Others Market Value & Forecast (USD Million), 2019-2025
12.2.2.5. Automotive Market Value & Forecast (USD Million), 2019-2025
12.2.2.5.1. Conventional Automotive Market Value & Forecast (USD Million), 2019-2025
12.2.2.5.2. Hybrid Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
12.2.2.5.3. Battery Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
12.2.2.6. Consumer Electronics Market Value & Forecast (USD Million), 2019-2025
12.2.2.7. Others Market Value & Forecast (USD Million), 2019-2025
12.2.3. By Country
12.2.3.1. Market Attractiveness, By Country
12.2.3.2. BPS Analysis, By Country
12.2.3.3. U.S. Market Value & Forecast (USD Million), 2019-2025
12.2.3.4. Canada Market Value & Forecast (USD Million), 2019-2025

12.3. Europe Market Value & Forecast (USD Million), 2019-2025
12.3.1. By Type
12.3.1.1. Introduction
12.3.1.2. Market Attractiveness, By Type
12.3.1.3. BPS Analysis, By Type
12.3.1.4. Lithium cobalt oxide Market Value & Forecast (USD Million), 2019-2025
12.3.1.5. Lithium Manganese Oxide Market Value & Forecast (USD Million), 2019-2025
12.3.1.6. Lithium Iron Phosphate Market Value & Forecast (USD Million), 2019-2025
12.3.1.7. Lithium Nickel Manganese Cobalt Oxide Market Value & Forecast (USD Million), 2019-2025
12.3.1.8. Lithium Nickel Cobalt Aluminum Oxide Market Value & Forecast (USD Million), 2019-2025
12.3.1.9. Lithium Titanat Market Value & Forecast (USD Million), 2019-2025
12.3.2. By Application
12.3.2.1. Introduction
12.3.2.2. Market Attractiveness, By Application
12.3.2.3. BPS Analysis, By Application
12.3.2.4. Industrial Market Value & Forecast (USD Million), 2019-2025
12.3.2.4.1. Defense Market Value & Forecast (USD Million), 2019-2025
12.3.2.4.2. Heavy Industries Market Value & Forecast (USD Million), 2019-2025
12.3.2.4.3. Healthcare Market Value & Forecast (USD Million), 2019-2025
12.3.2.4.4. Power & Utility Market Value & Forecast (USD Million), 2019-2025
12.3.2.4.5. Marine Market Value & Forecast (USD Million), 2019-2025
12.3.2.4.6. Others Market Value & Forecast (USD Million), 2019-2025
12.3.2.5. Automotive Market Value & Forecast (USD Million), 2019-2025
12.3.2.5.1. Conventional Automotive Market Value & Forecast (USD Million), 2019-2025
12.3.2.5.2. Hybrid Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
12.3.2.5.3. Battery Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
12.3.2.6. Consumer Electronics Market Value & Forecast (USD Million), 2019-2025
12.3.2.7. Others Market Value & Forecast (USD Million), 2019-2025
12.3.3. By Country
12.3.3.1. Market Attractiveness, By Country
12.3.3.2. BPS Analysis, By Country
12.3.3.3. Germany Market Value & Forecast (USD Million), 2019-2025
12.3.3.4. United Kingdom Market Value & Forecast (USD Million), 2019-2025
12.3.3.5. France Market Value & Forecast (USD Million), 2019-2025
12.3.3.6. Italy Market Value & Forecast (USD Million), 2019-2025
12.3.3.7. Spain Market Value & Forecast (USD Million), 2019-2025
12.3.3.8. Russia Market Value & Forecast (USD Million), 2019-2025
12.3.3.9. Rest of Europe Market Value & Forecast (USD Million), 2019-2025

12.4. Asia Pacific Market Value & Forecast (USD Million), 2019-2025
12.4.1. By Type
12.4.1.1. Introduction
12.4.1.2. Market Attractiveness, By Type
12.4.1.3. BPS Analysis, By Type
12.4.1.4. Lithium cobalt oxide Market Value & Forecast (USD Million), 2019-2025
12.4.1.5. Lithium Manganese Oxide Market Value & Forecast (USD Million), 2019-2025
12.4.1.6. Lithium Iron Phosphate Market Value & Forecast (USD Million), 2019-2025
12.4.1.7. Lithium Nickel Manganese Cobalt Oxide Market Value & Forecast (USD Million), 2019-2025
12.4.1.8. Lithium Nickel Cobalt Aluminum Oxide Market Value & Forecast (USD Million), 2019-2025
12.4.1.9. Lithium Titanat Market Value & Forecast (USD Million), 2019-2025
12.4.2. By Application
12.4.2.1. Introduction
12.4.2.2. Market Attractiveness, By Application
12.4.2.3. BPS Analysis, By Application
12.4.2.4. Industrial Market Value & Forecast (USD Million), 2019-2025
12.4.2.4.1. Defense Market Value & Forecast (USD Million), 2019-2025
12.4.2.4.2. Heavy Industries Market Value & Forecast (USD Million), 2019-2025
12.4.2.4.3. Healthcare Market Value & Forecast (USD Million), 2019-2025
12.4.2.4.4. Power & Utility Market Value & Forecast (USD Million), 2019-2025
12.4.2.4.5. Marine Market Value & Forecast (USD Million), 2019-2025
12.4.2.4.6. Others Market Value & Forecast (USD Million), 2019-2025
12.4.2.5. Automotive Market Value & Forecast (USD Million), 2019-2025
12.4.2.5.1. Conventional Automotive Market Value & Forecast (USD Million), 2019-2025
12.4.2.5.2. Hybrid Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
12.4.2.5.3. Battery Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
12.4.2.6. Consumer Electronics Market Value & Forecast (USD Million), 2019-2025
12.4.2.7. Others Market Value & Forecast (USD Million), 2019-2025
12.4.3. By Country
12.4.3.1. Market Attractiveness, By Country
12.4.3.2. BPS Analysis, By Country
12.4.3.3. China Market Value & Forecast (USD Million), 2019-2025
12.4.3.4. India Market Value & Forecast (USD Million), 2019-2025
12.4.3.5. Japan Market Value & Forecast (USD Million), 2019-2025
12.4.3.6. South Korea Market Value & Forecast (USD Million), 2019-2025
12.4.3.7. Indonesia Market Value & Forecast (USD Million), 2019-2025
12.4.3.8. Taiwan Market Value & Forecast (USD Million), 2019-2025
12.4.3.9. Australia Market Value & Forecast (USD Million), 2019-2025
12.4.3.10. New Zealand Market Value & Forecast (USD Million), 2019-2025
12.4.3.11. Rest of Asia Pacific Market Value & Forecast (USD Million), 2019-2025

12.5. Latin America Market Value & Forecast (USD Million), 2019-2025
12.5.1. By Type
12.5.1.1. Introduction
12.5.1.2. Market Attractiveness, By Type
12.5.1.3. BPS Analysis, By Type
12.5.1.4. Lithium cobalt oxide Market Value & Forecast (USD Million), 2019-2025
12.5.1.5. Lithium Manganese Oxide Market Value & Forecast (USD Million), 2019-2025
12.5.1.6. Lithium Iron Phosphate Market Value & Forecast (USD Million), 2019-2025
12.5.1.7. Lithium Nickel Manganese Cobalt Oxide Market Value & Forecast (USD Million), 2019-2025
12.5.1.8. Lithium Nickel Cobalt Aluminum Oxide Market Value & Forecast (USD Million), 2019-2025
12.5.1.9. Lithium Titanat Market Value & Forecast (USD Million), 2019-2025
12.5.2. By Application
12.5.2.1. Introduction
12.5.2.2. Market Attractiveness, By Application
12.5.2.3. BPS Analysis, By Application
12.5.2.4. Industrial Market Value & Forecast (USD Million), 2019-2025
12.5.2.4.1. Defense Market Value & Forecast (USD Million), 2019-2025
12.5.2.4.2. Heavy Industries Market Value & Forecast (USD Million), 2019-2025
12.5.2.4.3. Healthcare Market Value & Forecast (USD Million), 2019-2025
12.5.2.4.4. Power & Utility Market Value & Forecast (USD Million), 2019-2025
12.5.2.4.5. Marine Market Value & Forecast (USD Million), 2019-2025
12.5.2.4.6. Others Market Value & Forecast (USD Million), 2019-2025
12.5.2.5. Automotive Market Value & Forecast (USD Million), 2019-2025
12.5.2.5.1. Conventional Automotive Market Value & Forecast (USD Million), 2019-2025
12.5.2.5.2. Hybrid Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
12.5.2.5.3. Battery Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
12.5.2.6. Consumer Electronics Market Value & Forecast (USD Million), 2019-2025
12.5.2.7. Others Market Value & Forecast (USD Million), 2019-2025
12.5.3. By Country
12.5.3.1. Market Attractiveness, By Country
12.5.3.2. BPS Analysis, By Country
12.5.3.3. Brazil Market Value & Forecast (USD Million), 2019-2025
12.5.3.4. Mexico Market Value & Forecast (USD Million), 2019-2025
12.5.3.5. Rest of Latin America Market Value & Forecast (USD Million), 2019-2025

12.6. Middle East & Africa Market Value & Forecast (USD Million), 2019-2025
12.6.1. By Type
12.6.1.1. Introduction
12.6.1.2. Market Attractiveness, By Type
12.6.1.3. BPS Analysis, By Type
12.6.1.4. Lithium cobalt oxide Market Value & Forecast (USD Million), 2019-2025
12.6.1.5. Lithium Manganese Oxide Market Value & Forecast (USD Million), 2019-2025
12.6.1.6. Lithium Iron Phosphate Market Value & Forecast (USD Million), 2019-2025
12.6.1.7. Lithium Nickel Manganese Cobalt Oxide Market Value & Forecast (USD Million), 2019-2025
12.6.1.8. Lithium Nickel Cobalt Aluminum Oxide Market Value & Forecast (USD Million), 2019-2025
12.6.1.9. Lithium Titanat Market Value & Forecast (USD Million), 2019-2025
12.6.2. By Application
12.6.2.1. Introduction
12.6.2.2. Market Attractiveness, By Application
12.6.2.3. BPS Analysis, By Application
12.6.2.4. Industrial Market Value & Forecast (USD Million), 2019-2025
12.6.2.4.1. Defense Market Value & Forecast (USD Million), 2019-2025
12.6.2.4.2. Heavy Industries Market Value & Forecast (USD Million), 2019-2025
12.6.2.4.3. Healthcare Market Value & Forecast (USD Million), 2019-2025
12.6.2.4.4. Power & Utility Market Value & Forecast (USD Million), 2019-2025
12.6.2.4.5. Marine Market Value & Forecast (USD Million), 2019-2025
12.6.2.4.6. Others Market Value & Forecast (USD Million), 2019-2025
12.6.2.5. Automotive Market Value & Forecast (USD Million), 2019-2025
12.6.2.5.1. Conventional Automotive Market Value & Forecast (USD Million), 2019-2025
12.6.2.5.2. Hybrid Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
12.6.2.5.3. Battery Electric Vehicles Market Value & Forecast (USD Million), 2019-2025
12.6.2.6. Consumer Electronics Market Value & Forecast (USD Million), 2019-2025
12.6.2.7. Others Market Value & Forecast (USD Million), 2019-2025
12.6.3. By Geography
12.6.3.1. Market Attractiveness, By Geography
12.6.3.2. BPS Analysis, By Geography
12.6.3.3. GCC Market Value & Forecast (USD Million), 2019-2025
12.6.3.4. North Africa Market Value & Forecast (USD Million), 2019-2025
12.6.3.5. South Africa Market Value & Forecast (USD Million), 2019-2025
12.6.3.6. Rest of Middle East & Africa Market Value & Forecast (USD Million), 2019-2025

13. Competitive Landscape
13.1. Market Share of Key Players
13.2. Market Positioning of Major Players in Global Lithium Ion Battery Market
13.3. Company Profiles
13.3.1. Panasonic
13.3.2. Tesla
13.3.3. Samsung
13.3.4. GS YUASA
13.3.5. Koninklijke Philips N.V.
13.3.6. LG Chem
13.3.7. Toshiba
13.3.8. Lithium Werks
13.3.9. Hitachi Automotive Systems, Ltd.
13.3.10. Johnson Controls Inc.
13.3.11. Other Major & Niche Players

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Frequently Asked Questions(FAQ)

The global lithium ion batteries market is expected to cross a value of USD 189.2 billion by the end of 2032.

The global lithium ion batteries market was valued at USD 58.4 billion in 2023.

Over the mid-term, the surge in demand for hybrid and plug-in hybrid electric vehicles is the primary factor anticipated to drive the global lithium ion batteries market.

The global lithium ion batteries market is segmented by material, type, capacity, voltage, application, and by geography.

The Asia Pacific lithium ion batteries market is projected to dominate the global market in 2032.

Some of the key players in the lithium ion batteries market include Panasonic Corporation, LG Chem Ltd., Samsung SDI Co., Ltd., Contemporary Amperex Technology Co. Limited (CATL), Tesla, Inc., BYD Company Limited among others.