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Li-Ion Battery Market Overview, Segment Analysis, Developments and Demand Forecast to 2030

The size of the lithium-ion battery market was valued at USD 49.6 billion in 2022, and it will grow at a CAGR of 16.3% in the years to come, to reach USD 165.6 billion by 2030, as per P&S Intelligence.


The U.S. had a higher revenue share, about 90%, in the recent past, in North America. The high prerequisite for these kind of batteries in the nation is credited to the extensive use of consumer electronics and electric vehicles. The increasing sales of EVs in the nation are largely driven by supportive government policies and strict targets for plummeting GHG emissions.

Furthermore, the nation’s consumer electronics industry is matured and captures a noticeable share of revenue. Moreover, cutting-edge technologies, including IoT and home automation, will similarly thrive the requirement for Li-ion batteries in the U.S.

The unregulated cost of diesel and emissions of carbon dioxide are acting as barriers for the usage of diesel generators. Consequently, telecom companies are continually working toward accomplishing energy-efficient solutions, as fuel expenses has 30% of the functioning cost of telecom tower. Therefore, at many locations, telecom businesses are combining high-competence Li-ion batteries with renewable energy sources.

The APAC lithium-ion battery market had a revenue of about USD 30 billion in 2022. The increasing sales of portable electronic devices and EVs are driving the regional industry.

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Increasing changing lifestyle preference, middle-class population, inclination toward the use of smart electronic devices are the key factors supporting the high requirement for lithium-ion batteries for electronic consumer products.