Lithium Ion Battery Market Size, Share | CAGR of 18.3%
In 2024, the Asia-Pacific (APAC) region solidified its dominance in the global lithium-ion battery market, capturing a substantial 48.5% share, equivalent to approximately USD 39.4 billion in
Market Definition The lithium-ion battery market refers to the global industry involved in the production, distribution, and sale of lithium-ion batteries. A lithium-ion battery is a type of rechargeable battery that utilizes lithium ions as the primary charge carriers.
Asia Pacific dominated the global market and accounted for the largest revenue share of 47.0% in 2023. The lithium-ion battery market in Germany is expected to witness steady growth over the forecast period. By application, the consumer electronics segment accounted for a revenue share of 31.0% in 2023.
Countries like China, India, Japan, and South Korea are leading the way, solidifying Asia Pacific's role as the primary growth driver of the global lithium-ion battery market.
Market growth is primarily driven by the rising adoption of EVs, expanding renewable energy infrastructure, and increasing demand for compact and efficient power storage solutions across residential, commercial, and industrial sectors. To provide a detailed overview of the value chain of the lithium-ion battery market.
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