Future segmentation of lithium battery

What is the global lithium-ion battery market size?

The global lithium-ion battery market size was estimated at USD 54.4 billion in 2023 and is projected to register a compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. Automotive sector is expected to witness significant growth owing to the low cost of lithium-ion batteries.

How will rising demand for lithium-ion batteries affect the battery industry?

Rising demand for substitutes, including sodium nickel chloride batteries, lithium-air flow batteries, lead acid batteries, and solid-state batteries, in electric vehicles, energy storage, and consumer electronics is expected to restrain the growth of the lithium-ion battery industry over the forecast period.

How big will lithium-ion batteries be in 2022?

But a 2022 analysis by the McKinsey Battery Insights team projects that the entire lithium-ion (Li-ion) battery chain, from mining through recycling, could grow by over 30 percent annually from 2022 to 2030, when it would reach a value of more than $400 billion and a market size of 4.7 TWh. 1

Are solid-state batteries the future of lithium-metal batteries?

One possible innovation is the use of solid electrolyte materials preventing leakage in the event of battery damage. Furthermore, solid-state batteries (SSB) are considered a facilitator for the development of high-energy Li-metal batteries .

Why are lithium-sulfur batteries gaining attention in the automotive sector?

Furthermore, lithium-sulfur batteries are gaining attention in the automotive sector due to their potential for higher energy density than traditional lithium-ion batteries. This could lead to electric vehicles with longer driving ranges and potentially lower costs.

What is the global next generation batteries market size?

The global next generation batteries market size was estimated at USD 1.76 billion in 2023 and is expected to grow at a CAGR of 8.4% from 2024 to 2030.