Canada Lithium-ion Battery Market Size & Outlook
Canada lithium-ion battery market, 2018-2030 (US$M)
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Canada lithium-ion battery market highlights
- The Canada lithium-ion battery market generated a revenue of USD 20.1 million in 2023 and is expected to reach USD 126.6 million by 2030.
- The Canada market is expected to grow at a CAGR of 30.1% from 2024 to 2030.
- In terms of segment, lithium cobalt oxide (lco) was the largest revenue generating product in 2023.
- Lithium Titanate (LTO) is the most lucrative product segment registering the fastest growth during the forecast period.
Lithium-ion battery market data book summary
| Market revenue in 2023 | USD 20.1 million |
| Market revenue in 2030 | USD 126.6 million |
| Growth rate | 30.1% (CAGR from 2023 to 2030) |
| Largest segment | Lithium cobalt oxide (lco) |
| Fastest growing segment | Lithium Titanate (LTO) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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) |
| Key market players worldwide | BYD Co Ltd ADR, Hitachi Ltd, Johnson Controls International PLC, LG Chem, Panasonic Holdings Corp, Samsung SDI Co Ltd GDR - 144A, Toshiba Tec Corp ADR, GS Yuasa Corp |
Other key industry trends
- In terms of revenue, Canada accounted for 4.3% of the global lithium-ion battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. lithium-ion battery market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 126.6 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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Canada 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 31.34% in 2023. Horizon Databook has segmented the Canada 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.
Growing demand for vehicle charging infrastructure and installation of renewable energy systems is expected to spur market growth. High demand for telecom towers coupled with continuous innovations to reduce the cost of lithium-ion batteries is expected to spur demand growth.
Subsidies and a favorable regulatory frameworks are expected to drive the market over the forecast period. Moreover, a steep decline in equipment cost owing to rising installations in the solar industry is expected to continue over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada lithium-ion battery market , including forecasts for subscribers. This country databook contains high-level insights into Canada lithium-ion battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada lithium-ion battery market size, by product, 2018-2030 (US$M)
Canada Lithium-ion Battery Market Outlook Share, 2023 & 2030 (US$M)
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