UK Lithium-ion Battery Market Size & Outlook, 2023-2030
UK lithium-ion battery market, 2018-2030 (US$M)
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UK lithium-ion battery market highlights
- The UK lithium-ion battery market generated a revenue of USD 18.1 million in 2023 and is expected to reach USD 101.7 million by 2030.
- The UK market is expected to grow at a CAGR of 27.9% from 2024 to 2030.
- In terms of segment, lithium nickel manganese cobalt (nmc) was the largest revenue generating product in 2023.
- Lithium Iron Phosphate (LiFePO4) 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 18.1 million |
| Market revenue in 2030 | USD 101.7 million |
| Growth rate | 27.9% (CAGR from 2023 to 2030) |
| Largest segment | Lithium nickel manganese cobalt (nmc) |
| Fastest growing segment | Lithium Iron Phosphate (LiFePO4) |
| 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, UK accounted for 3.9% 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 Europe, Germany lithium-ion battery market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 60.4 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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UK 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 nickel manganese cobalt (nmc) was the largest segment with a revenue share of 33.15% in 2023. Horizon Databook has segmented the UK 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.
The UK is the third-largest economy in Europe and accounts for the second-largest car market in Europe. The increasing sales of electric vehicles are expected to drive the demand for lithium-ion batteries in the country.
The government has initiated the electrification of road transportation to mitigate climate change and reduce dependence on fossil fuels.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK lithium-ion battery market , including forecasts for subscribers. This country databook contains high-level insights into UK lithium-ion battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK lithium-ion battery market size, by product, 2018-2030 (US$M)
UK Lithium-ion Battery Market Outlook Share, 2023 & 2030 (US$M)
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