China-based CATL was the leading EV battery maker as of March 2025, with a market share of over ** percent. The Chinese company BYD ranked second with a market share of **** percent, followed by South Korean LG Energy Solution with a market share of **** percent. New entrants from China increase competition CATL (Contemporary Amperex Technology Co. Limited) was the largest battery manufacturer, having overtaken its main Chinese, South Korean, and Japanese competitors. CATL has several battery production bases in China, Germany, and Hungary. Electric cars are a major factor Considering the tightening environmental regulations, global sales of battery-electric vehicles increased *****-fold between 2018 and 2024. As a result, large-scale electric vehicle production drove the lithium-ion battery demand up to around *** terawatt-hour in 2024.

The North America Lithium-Ion Battery Market Report is Segmented by Application (Consumer Electronics, Automotive, Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), Etc. )), Other Applications (and More)), and Geography (United States, Canada, and Mexico).

The North America Lithium-ion Battery Market size was valued at USD 16.53 Million in 2023 and is projected to reach USD 80.38 Million by 2032, exhibiting a CAGR of 25.35 % during the forecasts periods. Recent developments include: February 2023: Ascend Elements, a United States-based battery recycling and engineered materials company announced a basic agreement with Honda Motor Co. Ltd to collaborate on stable procurement of recycled lithium-ion battery materials for Honda electric vehicles in North America, which is expected to reduce the carbon footprint of electric vehicles., January 2023: United States battery manufacturer Yoshino Technology announced the development of solid-state lithium-ion batteries with outputs ranging from 330 W to 4,000 W designed for home backup, off-grid applications, and powering small industrial machinery. The system can be used in combination with solar panels. The 4,000 W power station has a peak power of 6000 W and 2,611 Wh capacity. A 600 W solar panel can fully recharge in 5.5 hours.. Key drivers for this market are: 4., Declining Lithium-Ion Battery Prices4.; Increasing Adoption Of Electric Vehicles. Potential restraints include: 4., Safety Concerns Related To Lithium-Ion Battery. Notable trends are: Automotive Batteries Expected to be the Fastest-growing Segment.

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Lithium-Ion Battery Market Size 2025-2029

The lithium-ion battery market size is forecast to increase by USD 405.1 billion, at a CAGR of 34.5% between 2024 and 2029. Augmented demand from consumer electronics will drive the lithium-ion battery market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 52% growth during the forecast period.
By Type - Lithium nickel manganese cobalt segment was valued at USD 13.80 billion in 2023
By Application - Automotive segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 1.00 billion
Market Future Opportunities: USD 405.10 billion 
CAGR : 34.5%
APAC: Largest market in 2023

Market Summary

The market is a dynamic and ever-evolving landscape shaped by advancements in core technologies and their applications. This market's growth is primarily driven by the augmented demand for lithium-ion batteries in consumer electronics, such as smartphones and laptops. Furthermore, legislative support for battery recycling and the growing popularity of fuel cell solutions are creating new opportunities for market expansion. According to recent studies, the market is projected to account for over 50% of the global rechargeable battery market by 2025.
In related markets such as electric vehicles, lithium-ion batteries hold an even larger market share. Despite these opportunities, challenges persist, including the high cost of raw materials and safety concerns. As the market continues to unfold, stakeholders must navigate these challenges and capitalize on emerging trends to remain competitive.

What will be the Size of the Lithium-Ion Battery Market during the forecast period?

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How is the Lithium-Ion Battery Market Segmented and what are the key trends of market segmentation?

The lithium-ion battery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Lithium nickel manganese cobalt
  Lithium titanate
  Lithium iron phosphate
  Lithium cobalt oxide


Application

  Automotive
  Consumer electronics
  Others


Voltage

  Low (Below 12V)
  Medium (12V - 36V)
  High (Above 36V)


Capacity

  Below 3,000 mAh
  3,001-10,000 mAh
  10,001-60,000 mAh
  Above 60,000 mAh


Geography

  North America

    US


  Europe

    France
    Germany
    Italy
    Sweden
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The lithium nickel manganese cobalt segment is estimated to witness significant growth during the forecast period.

Lithium-ion batteries, specifically those with nickel, manganese, and cobalt (NMC) cathodes, have gained significant traction in various industries due to their unique properties. NMC batteries offer a balance between energy density and power density, making them suitable for diverse applications. Graphite anodes, a traditional choice, contribute to high energy density, while NMC cathodes provide power density. Fast charging is a crucial aspect, with NMC batteries demonstrating impressive progress in this area. Power density has increased by 15%, enabling quicker charge times. Battery pack design plays a pivotal role in market trends. Silicon anodes and lithium iron phosphate (LFP) cathodes are emerging alternatives, offering advantages such as improved energy density and longer cycle life.

Solid-state batteries are another promising development, with potential for enhanced safety and energy density. Battery management systems and power electronics are essential components, ensuring optimal battery performance. Recycling processes are increasingly important, with a 12% increase in recycling rates to mitigate environmental concerns. Material science, electrolyte composition, and electrode kinetics are ongoing areas of research. Impedance spectroscopy and state of charge monitoring are crucial for assessing battery health. Anode materials, such as lithium cobalt oxide (LCO), are being replaced with alternatives like lithium nickel manganese cobalt oxide (NMC) to improve capacity fade and ion transport. Thermal management and lithium extraction are critical for battery degradation mitigation.

Cobalt mining remains a concern, prompting a shift towards nickel manganese cobalt batteries and alternative cathode materials like lithium nickel manganese aluminum (NCA) and lithium nickel manganese high nickel (NCAH). In the electric vehicle (EV) sector, NMC batteries dominate, accounting for 60% of the market share. The EV market is projected to grow by 25% by 2025, driven by advancements in battery technology and government incentives. The energy storage market is expected to ex

The global lithium-ion battery market was valued at some **** billion U.S. dollars in 2020. It is projected that the market will grow at a CAGR of **** percent, reaching the size of almost ** billion U.S. dollars in 2026. The lithium-ion battery industry Lithium-ion batteries are used across several products and industries, from smartphones to electric cars. As of 2020, most of the largest li-ion battery factories worldwide were located in China, which also held the largest share of the global manufacturing capacity that year. LG Chem was the leading li-ion battery manufacturer worldwide as of August 2020, with a market share of around **** percent. Application in electric vehicles Initially developed for consumer electronics, the li-ion battery type has become increasingly important for its use in electric vehicles. As more countries advance in the shift towards cleaner fuel alternatives, the supply and demand for lithium-ion batteries are expected to continue growing. Combined with technological improvements in battery production, the average price of a lithium-ion battery pack has been steadily falling since 2011. Still, lithium is a finite resource that requires mining and transportation over vast distances. It can be expected that the recycling of lithium-ion batteries will become more important in the coming years, with the market for lithium-ion battery recycling growing *****-fold between 2020 and 2027.

The Report Covers Indian Lithium-Ion Battery Market Size & Share, and It is Segmented by Applications (Portable, Automotive, and Other Applications). The Report Offers the Market Size and Forecasts for the India Lithium-Ion Battery Market in Revenue (USD) for all the Above Segments.

The India Battery Market report segments the industry into Technology (Lithium-Ion Battery, Lead-Acid Battery, Other Technologies) and Application (SLI Batteries, Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS)), Etc.), Portable (Consumer Electronics, Etc.), Automotive Batteries (HEV, PHEV, and EV), Other Applications). Get five years of historical data and future forecasts.

The global Lithium-ion Battery market size reached USD 45.70 Billion in 2022 and is expected to reach USD 154.40 Billion in 2032 registering a CAGR of 13.1%. Lithium-ion Battery market growth is primarily driven owing to increasing use of rechargeable batteries in rapidly growing consumer electronic...

The global lithium-ion battery market size surpassed USD 134.88 billion in 2025 and is projected to witness a CAGR of over 15.5%, crossing USD 569.86 billion revenue by 2035, driven by increasing demand for smartphones.

Lithium-Ion Battery Market size reached USD 164.8 billion in 2024 and is projected to reach USD 732.6 billion in 2032, growing at a significance CAGR of 12.5% till 2032

Discover Market Research Intellect's Primary Lithium Battery Market Report, worth USD 12.2 billion in 2024 and projected to hit USD 22.5 billion by 2033, registering a CAGR of 8.1% between 2026 and 2033.Gain in-depth knowledge of emerging trends, growth drivers, and leading companies.

The UK lithium battery market contracted to $X in 2021, declining by -9.9% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then dropped in the following year.

The North America Lithium Ion Battery market report offers a thorough competitive analysis, mapping key players’ strategies, market share, and business models. It provides insights into competitor dynamics, helping companies align their strategies with the current market landscape and future trends.

The global lithium-ion battery market size was valued at USD 53.96 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 140.51 Billion by 2033, exhibiting a CAGR of 11.14% during 2025-2033. Asia-Pacific currently dominates the market, holding a significant market share of over 40.5% in 2024. The rising demand for electric vehicles (EVs), rapid expansion of renewable energy storage solutions, continual technological advancements enhancing battery efficiency and capacity, along with the widespread product adoption in consumer electronics are some of the major factors expanding lithium-ion battery market share.

IMARC Group provides an analysis of the key trends in each segment of the global lithium-ion battery market, along with forecasts at the global, regional, and country levels from 2025-2033. The market has been categorized based on product type, power capacity, and application.

The global automotive lithium-ion battery market size reached USD 56.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 226.1 Billion by 2033, exhibiting a growth rate (CAGR) of 16.69% during 2025-2033. The rising adoption of electric vehicles (EVs), supportive government incentives, rapid advancements in battery technology, decreasing battery costs, growing demand for renewable energy storage, expanding EV charging infrastructure, and collaborations between automakers and battery manufacturers are some of the factors facilitating the market growth.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on battery type, distribution channel, and vehicle type.

UK Lithium-Ion Battery Market size was valued at around USD 19.2 million in 2024 and is projected to reach USD 108.2 million by 2030 along with a CAGR of around 16.2%.

The global Lithium-ion Battery (LIB) material market, valued at approximately $13.13 billion in 2025, is projected to experience steady growth, driven by the burgeoning electric vehicle (EV) sector and the expanding energy storage systems (ESS) market. A Compound Annual Growth Rate (CAGR) of 3.1% from 2025 to 2033 suggests a continued, albeit moderate, expansion. Key drivers include increasing demand for EVs globally, coupled with government initiatives promoting renewable energy sources and grid stabilization through large-scale ESS deployments. Technological advancements in cathode and anode materials, focusing on higher energy density, faster charging capabilities, and improved lifespan, are further fueling market growth. However, constraints such as fluctuating raw material prices (particularly lithium, cobalt, and nickel), supply chain complexities, and environmental concerns surrounding battery production and disposal pose challenges to market expansion. Segmentation analysis reveals significant contributions from both power battery and energy storage applications, while cathode materials currently hold a larger market share compared to anode materials, reflecting the critical role they play in battery performance. The competitive landscape is characterized by a mix of established chemical giants and specialized materials suppliers, suggesting a dynamic market with ongoing innovation and consolidation. The market's regional distribution reflects the global adoption of LIB technologies. Asia-Pacific, particularly China, is expected to dominate the market owing to its large-scale manufacturing capabilities, significant EV production, and supportive government policies. North America and Europe are also significant markets, fueled by robust EV sales and investments in renewable energy infrastructure. However, Africa and parts of South America might exhibit slower growth due to lower adoption rates of EVs and ESS. The forecast period (2025-2033) suggests continuous growth, though the pace may vary depending on geopolitical factors, economic conditions, and technological breakthroughs within the battery material sector. Ongoing research and development efforts toward safer, more sustainable, and cost-effective LIB materials are poised to shape the market's trajectory in the coming years. Specifically, the increasing focus on solid-state batteries could significantly impact the market dynamics in the longer term.

The size of the Cylindrical Lithium Ion Battery Market market was valued at USD 95.52 Billion in 2024 and is projected to reach USD 302.84 Billion by 2033, with an expected CAGR of 17.92% during the forecast period. Recent developments include: The Global Cylindrical Lithium-Ion Battery Market is projected to grow significantly over the next decade, driven by increasing demand for electric vehicles and consumer electronics. In 2023, the market is valued at USD 95.52 billion, and it is expected to reach USD 421.3 billion by 2032, exhibiting a CAGR of 17.92%. Key market trends include the rising adoption of electric vehicles, government initiatives to promote sustainable transportation, and technological advancements in battery technology. Recent news developments in the market include the launch of new high-capacity cylindrical lithium-ion batteries by leading manufacturers such as Panasonic and LG Chem, and strategic partnerships between battery manufacturers and automotive companies to develop and produce electric vehicles.. Key drivers for this market are: Growing electric vehicle demand, increasing adoption of energy storage systems; rising consumer electronics sales; expanding industrial applications; and technological advancements.. Potential restraints include: Rising demand for electric vehicles Increasing adoption in consumer electronics Growing popularity of renewable energy storage Government incentives for clean energy Technological advancements..

The size of the Germany lithium ion battery market was valued at USD 4.1 Billion in 2023 and is projected to reach USD 9.53 Billion by 2032, with an expected CAGR of 12.8% during the forecast period. Recent developments include: August 2020: Contemporary Amperex Technology Co., Limited declared the growth of a new battery that comprises no cobalt or nickel. This new battery is being developed for electric vehicles. It will have no expensive metals such as cobalt or nickel, which makes it different from existing NCM, NCA, and LFP batteries. This new product development will provide technological development in the company.. Notable trends are: Bolstering demand for electric vehicles is driving the market growth.

In 2021, after four years of growth, there was significant decline in the global lithium battery market, when its value decreased by -5.2% to $X. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then shrank in the following year.