Lithium-ion Battery Industry Overview

The global lithium-ion battery market size was valued at USD 41.97 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.1% from 2022 to 2030. 

The automobile sector is expected to witness significant growth owing to the rising adoption of electric vehicles. The worldwide registration of electric vehicles is anticipated to increase significantly over the forecast period. The U.S. emerged as the largest market in North America with a revenue share of over 75.0% in 2021. Increasing sales of electric vehicles in the U.S. owing to supportive federal policies, coupled with the presence of market players in the country, are expected to drive the demand for lithium-ion batteries in the U.S. over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Lithium-ion Battery Market