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Lithium-ion batteries - statistics & facts

Lithium-ion batteries have revolutionized our everyday lives, laying the foundations for a wireless, interconnected, and fossil-fuel-free society. Their potential is, however, yet to be reached. It is projected that between 2020 and 2030, the global demand for lithium-ion batteries will increase elevenfold, reaching over two terawatt-hours in 2030. Much of this growth can be attributed to the rising popularity of electric vehicles which predominantly rely on lithium-ion batteries for power.
Consequently, the global lithium-ion battery market is expected to significantly grow as well. While valued at about 40.5 billion U.S. dollars in 2020, the market should reach the size of around 91.9 billion U.S. dollars in 2030.

China is winning the battery manufacturing race

The growing demand for lithium-ion batteries is being met with an increase in production capacities. Just between 2015 and 2020, the number of battery factories under construction or planning increased from four to 181. Lithium-ion battery production capacity worldwide is thus projected to significantly increase, growing from almost 300 gigawatt-hours in 2018 to over two terawatt-hours in 2028. However, this growing manufacturing capacity is not equally distributed around the world. In 2020, China was the powerhouse of lithium-ion battery manufacturing, producing around 77 percent of batteries that entered the global market. Not surprisingly, most of the largest battery factories in the world were located in China.

Although Europe is planning extensive investments in lithium-ion battery manufacturing facilities, China will still dominate the global production of lithium-ion batteries in the foreseeable future. It is expected that by 2025, China will be manufacturing some 65 percent of the world’s lithium-ion batteries, while European production is estimated to account for around 25 percent.

Applications for lithium-ion batteries

First commercialized by Japan’s Sony in 1991, lithium-ion batteries are rechargeable electric devices where lithium moves back and forth from the negative to the positive electrode during the discharge and charging process. The energy density, safety, recharge time, cost, weight, and other aspects of its technology made lithium-ion batteries the more sought-after alternative to nickel-metal batteries. Nowadays, besides electric vehicles, lithium-ion batteries are commonly used in devices such as mobile phones, laptops, digital cameras, and power tools. It is expected that with improvements in lithium-ion technology and dropping prices of lithium-ion battery packs, the range of applications for lithium-ion batteries will widen.

Interesting statistics

In the following 6 chapters, you will quickly find the 31 most important statistics relating to "Lithium-ion battery industry worldwide".


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