The global lithium-ion (Li-ion) battery market is expected to surpass 150 billion U.S. dollars by 2032, compared to a market size of approximately 50 billion U.S. dollars in 2023.
Popularity of lithium-ion batteries
In 2022, Li-ion batteries made up the vast majority of the electrochemical energy storage projects worldwide. Their popularity is due to their lightness and the fact that Li-ion batteries can hold a charge better than other battery types, have no memory effect (no need to completely discharge batteries before recharging) and are able to handle hundreds of charge and discharge cycles.
Market forecast
The popularity of Li-ion batteries will most likely persist in the coming years. Their price is not forecast to increase and, according to recent projections, the global Li-ion demand will experience an almost seven-fold increase between 2022 and 2030.
Projected lithium-ion battery market size worldwide in 2022 and 2023, with a forecast to 2032
(in billion U.S. dollars)
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Emergen Research, & Statista. (March 30, 2023). Projected lithium-ion battery market size worldwide in 2022 and 2023, with a forecast to 2032 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 13, 2024, from https://www.statista.com/statistics/235316/global-lithium-battery-market/
Emergen Research, und Statista. "Projected lithium-ion battery market size worldwide in 2022 and 2023, with a forecast to 2032 (in billion U.S. dollars)." Chart. March 30, 2023. Statista. Accessed December 13, 2024. https://www.statista.com/statistics/235316/global-lithium-battery-market/
Emergen Research, Statista. (2023). Projected lithium-ion battery market size worldwide in 2022 and 2023, with a forecast to 2032 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 13, 2024. https://www.statista.com/statistics/235316/global-lithium-battery-market/
Emergen Research, and Statista. "Projected Lithium-ion Battery Market Size Worldwide in 2022 and 2023, with a Forecast to 2032 (in Billion U.S. Dollars)." Statista, Statista Inc., 30 Mar 2023, https://www.statista.com/statistics/235316/global-lithium-battery-market/
Emergen Research & Statista, Projected lithium-ion battery market size worldwide in 2022 and 2023, with a forecast to 2032 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/235316/global-lithium-battery-market/ (last visited December 13, 2024)
Projected lithium-ion battery market size worldwide in 2022 and 2023, with a forecast to 2032 (in billion U.S. dollars) [Graph], Emergen Research, & Statista, March 30, 2023. [Online]. Available: https://www.statista.com/statistics/235316/global-lithium-battery-market/