Lithium-Ion (Li-Ion) Market Report 2025

This Lithium-Ion (Li-Ion) market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The lithium-ion (Li-Ion) market size has grown rapidly in recent years. It will grow from $73.56 billion in 2024 to $82.72 billion in 2025 at a compound annual growth rate (CAGR) of 12.5%. 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 rapid growth in the next few years. It will grow to $126.36 billion in 2029 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to electric aviation, energy transition, ev adoption growth, emerging markets, industrial and commercial applications. Major trends in the forecast period include solid-state batteries, battery recycling, fast charging technology, energy density improvements, advanced materials.

The upward trajectory of the lithium-ion batteries market is predominantly propelled by the high energy density characteristics inherent in these batteries. Lithium-ion batteries are renowned for their superior energy density, allowing them to sustain extended operational periods. Most portable devices utilize cobalt-based lithium-ion batteries, offering the highest energy density. Ranging between 100-265 Wh/kg or 250-670 Wh/L, this energy density is among the highest across various battery technologies. The prevalence of high energy density has made lithium-ion batteries the preferred power source for mobile phones, laptops, cameras, and automobiles, thus significantly fostering the growth of the lithium-ion batteries market.

The growing adoption of electric vehicles (EVs) is expected to be a significant driver of the lithium-ion batteries market's growth in the coming years. EVs rely on battery-powered systems instead of traditional internal combustion engines. Lithium-ion batteries have become a preferred choice for EVs due to their high energy density, long cycle life, and capability to deliver the necessary power for long driving ranges. For example, in November 2023, the U.S. Energy Information Administration, a US-based government agency, reported that the share of battery-electric vehicles (BEVs) in new light-duty vehicle sales reached 17.7% in the third quarter of 2023. BEVs represented 16% of total new vehicle sales so far this year, up from 12.5% in 2022 and 9% in 2021. Therefore, the increasing adoption of electric vehicles is a key factor driving the growth of the lithium-ion batteries market.

Major corporations within the lithium-ion batteries market are strategically concentrating on the development of batteries showcasing enhanced discharge capabilities, exemplified by the Alliance I48-3 lithium-ion battery. This innovation is geared towards gaining a competitive edge in the market by offering batteries capable of higher power outputs, increased range, enhanced durability, and reduced maintenance requirements. The implementation of batteries featuring greater discharge capabilities ensures reliable performance, especially for high-demand applications, by providing the necessary power when required. An example of this advancement is the launch of the Alliance I48-3 lithium-ion battery by American Battery Solutions Inc. in January 2022. This lithium-ion battery, designed in the industry-standard GC2 size, boasts the unique ability to withstand high power with 350 Amp pulse and 120 Amp continuous discharge capacities. The product caters to a broad spectrum of applications, including fleet maintenance, construction equipment, and battery-powered tools. The Alliance I48-3 stands out by offering up to 75% more power than other standard-sized lithium-ion batteries, ensuring heightened durability and a prolonged lifespan.

In March 2022, Reliance New Energy Limited, a subsidiary of Reliance Industries Ltd., completed the acquisition of Lithium Werks BV for a sum of $61 million. This strategic move solidifies Reliance's expertise in cell chemistry technology while expediting the establishment of large-scale battery manufacturing facilities in India. Lithium Werks BV, based in the Netherlands, is a prominent manufacturer of lithium-ion batteries.

Major companies operating in the lithium-ion (li-ion) market include A123 Systems Inc., Automotive Energy Supply Corporation (AESC), LG Chem Ltd., Panasonic Corporation, Samsung SDI Co. Ltd., Toshiba Corporation, BYD Company Limited, Contemporary Amperex Technology Co. Ltd. (CATL), Johnson Controls Inc., Amperex Technology Limited (ATL), 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.

A lithium-ion battery, often abbreviated as Li-ion battery, is a rechargeable battery known for its high energy density, and it employs lithium ions as a primary component of its electrolyte. These batteries are widely used in various applications, including electric vehicles, mobile phones, laptops, power backups, and other electronic devices.

The main types of lithium-ion batteries include Lithium Nickel Manganese Cobalt (LI-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Titanate Oxide (LTO), Lithium Manganese Oxide (LMO), and Lithium Nickel Cobalt Aluminum Oxide (NCA). For example, the lithium iron phosphate (LFP) battery is a specific type of lithium-ion battery with a cathode made of lithium iron phosphate and an anode made of graphitic carbon with a metallic backing. These batteries consist of various components, such as cathodes, anodes, separators, electrolytes, aluminum foil, copper foil, and others. They are available in different power capacities, including 0 to 3000 mAh, 3000 to 10000 mAh, 10000 to 60000 mAh, and above 60000 mAh. Lithium-ion batteries are used across a wide range of industries, including consumer electronics, automotive, marine, aerospace and defense, medical, industrial, power, and other sectors, reflecting the versatility and applicability of different lithium-ion battery chemistries.

The lithium-ion (Li-ion) batteries market research report is one of a series of new reports that provides lithium-ion (Li-ion) batteries market statistics, including lithium-ion (Li-ion) batteries industry global market size, regional shares, competitors with a lithium-ion (Li-ion) batteries market share, detailed lithium-ion (Li-ion) batteries market segments, market trends and opportunities, and any further data you may need to thrive in the lithium-ion (Li-ion) batteries industry. This lithium-ion (Li-ion) batteries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Asia-Pacific was the largest region in the lithium-ion (Li-ion) batteries market in 2024. North America was the second-largest region in the lithium-ion (Li-ion) batteries market. The regions covered in the lithium-ion (li-ion) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the lithium-ion (li-ion) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The lithium-ion (Li-ion) batteries market consists of sales of lithium nickel magnesium cobalt (LI-NMC), lithium ferro phosphate (LFP), lithium cobalt oxide (LCO), lithium titanate oxide (LTO), lithium manganese oxide (LMO), and other lithium-ion (Li-ion) batteries. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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