Empowering Sustainable Solutions: Lithium-ion Battery Market Poised to Hit $135.1 Billion by 2031

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MarketsandMarkets Presents
The Global Lithium-ion Battery Market Size is
estimated to be USD 44.5 billion in 2022 and is
projected to reach USD 135.1 billion by 2031, at
a CAGR of 13.1. The plug-in vehicles is highly
adopting lithium-ion batteries and rising
development in smart electronic device is also
another factor driving the demand for the
lithium-ion battery market. Additionally, the
manufacturers of lithium-ion batteries are highly
focusing towards product advancement which is
also expected to spur the growth of the market
during the forecast period.
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MarketsandMarkets Presents
Lithium Nickel Manganese Cobalt Oxide holds the
second-largest market share in 2021 Lithium
Nickel Manganese Cobalt Oxide segment in the
lithium-ion battery market was valued at USD 9.8
billion in 2021. The growth of the segment is
attributed to the increasing adoption of Li-NMC
in electric vehicles due to its very low
self-heating rate. It is also used for power
tools, medical equipment, and other electric
powertrains. Li-NMC batteries can be used for a
multitude of applications, ranging from
applications in the automotive industry to ESS.
The Li-NMC are fireproof batteries therefore,
they can be used as uninterrupted power supplies
and can also be installed in residential
applications for home battery storage along with
solar photovoltaic cells.
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MarketsandMarkets Presents
Lithium-ion batteries with capacity ranging from
3,000 10,000 mAh are highly adopted by
end-users Lithium-ion batteries with capacity of
3,000 10,000 mAh is highly adopted in various
industries such as automotive, consumer
electronics, and aerospace. These batteries are
often grouped together to form modules which are
used in applications requiring heavy loads such
as electric vehicles, industrial applications,
robots, medical applications, GEO and LEO
satellites, hybrid trucks, trains, and power
backup. Batteries in this range are available in
cylinder, prismatic, and battery pack formats.
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MarketsandMarkets Presents
High (above 36V) segment dominated the
lithium-ion market in 2021 Batteries with high
voltage i.e. of above 36V are highly preferred in
applications such as power, military, electric
vehicles, marine, huge machinery, and telecom.
These high voltage lithium-ion batteries are also
utilized to power electrical systems for some
aerospace applications as these batteries are low
in weight, which directly reduces the overall
weight of aircraft. Download PDF Sample _at_
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MarketsandMarkets Presents
Automotive industry dominated the lithium-ion
battery market in 2021 The automotive segment is
expected to be one of the major adopters of
lithium-ion batteries. Battery-driven vehicles
such as hybrid electric vehicles and plug-in
hybrid electric vehicles are major consumers of
lithium-ion batteries. Increasing adoption and
awareness of hybrid electric vehicles and plug-in
hybrid electric vehicles supports the growth of
the lithium-ion battery market. The automotive
industry is the main driver for the growth of the
lithium-ion battery market in Europe and the Asia
Pacific. The UK is undertaking initiatives for
the growth of the market for EVs, which is
expected to support the growth of the market.
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MarketsandMarkets Presents
The Lithium-ion Battery Market in Asia Pacific is
the largest dominating region in 2021 The growth
of the regional market can be attributed to the
prominent presence of a large number of market
players, such as LG Chem (South Korea) BAK Power
Battery Co., Ltd. (China), GS Yuasa International
Ltd. (Japan), SAMSUNG SDI CO., LTD. (South
Korea) Contemporary Amperex Technology Co.,
Limited. (China) Panasonic Holdings Corporation
(Japan), BYD Company Ltd. (China) in the region.
The China is one of the major contributors to
regional market growth. Along with the presence
of numerous established players in the
lithium-ion battery market, several local or
domestic players are also present in the country,
which is expected to create immense market growth
opportunities in the coming years.
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MarketsandMarkets Presents
Key Players Major companies operating in this
lithium-ion battery market include LG Chem (South
Korea) SAMSUNG SDI CO., LTD. (South Korea)
Contemporary Amperex Technology Co., Limited.
(China) Panasonic Holdings Corporation (Japan),
BYD Company Ltd. (China). For More Details -
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ithium-ion-battery-market-49714593.html
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