Global Lithium-ion Battery Market Size & Outlook
Global lithium-ion battery market, 2018-2030 (US$M)
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Global lithium-ion battery market highlights
- The global lithium-ion battery market generated a revenue of USD 467.8 million in 2023 and is expected to reach USD 2,734.8 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 28.7% by 2030.
- In terms of segment, lithium cobalt oxide (lco) accounted for a revenue of USD 143.2 million in 2023.
- Lithium Iron Phosphate (LiFePO4) is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Paraguay is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 467.8 million |
| Market revenue in 2030 | USD 2,734.8 million |
| Growth rate | 28.7% (CAGR from 2023 to 2030) |
| Largest segment | Lithium cobalt oxide (lco) |
| Fastest growing segment | Lithium Iron Phosphate (LiFePO4) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LiFePO4), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate (LTO), Lithium Nickel Manganese Cobalt (NMC) |
Other key industry trends
- In terms of revenue, the North America accounted for 24.9% of the global lithium-ion battery market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Paraguay is the fastest growing regional market and is projected to reach USD 2.7 million by 2030.
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Lithium-ion Battery Market Scope
Lithium-ion Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global lithium-ion battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lithium-ion battery market will help companies and investors design strategic landscapes.
Lithium cobalt oxide (lco) was the largest segment with a revenue share of 30.61% in 2023. Horizon Databook has segmented the Global lithium-ion battery market based on lithium cobalt oxide (lco), lithium iron phosphate (lifepo4), lithium nickel cobalt aluminum oxide (nca), lithium manganese oxide (lmo), lithium titanate (lto), lithium nickel manganese cobalt (nmc) covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Lithium-ion Battery Product Outlook (Revenue, USD Million, 2018-2030)
- Lithium Cobalt Oxide (LCO)
- Lithium Iron Phosphate (LiFePO4)
- Lithium Nickel Cobalt Aluminum Oxide (NCA)
- Lithium Manganese Oxide (LMO)
- Lithium Titanate (LTO)
- Lithium Nickel Manganese Cobalt (NMC)
- Global Lithium-ion Battery Application Outlook (Revenue, USD Million, 2018-2030)
- Consumer Electronics
- Automotive
- Energy Storage
- Industrial
- Medical Devices
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Horizon Databook provides a detailed overview of global-level data and insights on the Global lithium-ion battery market , including forecasts for subscribers. This global databook contains high-level insights into Global lithium-ion battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global lithium-ion battery market size, by regions, 2018-2030 (US$M)
Top 10 countries: Lithium-ion battery market size, 2023 (US$M)
Global lithium-ion battery market share, by product, 2023 & 2030 (%, US$M)
Lithium-ion battery market: Opportunity assessment by country
Global lithium-ion battery market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 43.0 | 63.6 | 56.0 | 72.3 | 92.5 | 116.4 | 143.8 | 177.4 | 223.9 | 288.3 | 380.9 | 514.2 | 702.7 | 29.3% |
| Europe | 32.2 | 47.2 | 41.2 | 52.7 | 66.9 | 83.4 | 102.2 | 125.0 | 156.3 | 199.8 | 261.3 | 349.2 | 472.0 | 28.1% |
| Asia Pacific | 93.3 | 137.5 | 120.7 | 155.3 | 198.1 | 248.3 | 305.9 | 375.9 | 472.5 | 607.5 | 798.7 | 1,073.4 | 1,458.7 | 28.8% |
| Latin America | 3.2 | 4.7 | 4.0 | 5.0 | 6.2 | 7.6 | 9.0 | 10.8 | 13.2 | 16.4 | 20.9 | 27.3 | 35.8 | 24.9% |
| MEA | 4.7 | 6.8 | 6.0 | 7.7 | 9.7 | 12.1 | 14.9 | 18.1 | 22.4 | 29.2 | 37.6 | 49.6 | 65.5 | 27.2% |
| Overall | 176.3 | 259.8 | 227.9 | 292.9 | 373.5 | 467.8 | 575.8 | 707.2 | 888.3 | 1,141.3 | 1,499.3 | 2,013.8 | 2,734.8 | 28.7% |
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