What is the global market size of Lithium-Ion Battery Market?

Lithium-Ion Battery Market size was valued at USD 53.95 Billion in 2023 and is poised to grow from USD 61.66 Billion in 2024 to USD 179.65 Billion by 2032, growing at a CAGR of 14.30% during the forecast period (2025-2032).

Who are the key vendors in the Lithium-Ion Battery Market?

Key vendors in Lithium-Ion Battery Market are: 'LG Energy Solution', 'Samsung SDI Co., Ltd.', 'Panasonic Holdings Corporation', 'Contemporary Amperex Technology Co., Limited', 'Panasonic Energy Corporation)', 'EVE Energy Co., Ltd.', 'GS Yuasa Corporation', 'Hitachi, Ltd.', 'Tesla, Inc.', 'EVE Energy Co., Ltd.', 'Farasis Energy, Inc.', 'Ipower Batteries Pvt Ltd.', 'SK Innovation', 'HEG – TACC', 'NextEra Energy, Inc.', 'Cadenza Innovation', 'Ipower Batteries Pvt Ltd.', 'Sila Nanotechnologies Inc.', 'SolarEdge Technologies Inc.', 'Battery Ventures'.

What is the key driver of Lithium-Ion Battery Market?

The growth in the global lithium-ion battery industry is determined by the ever-increasing demand for electric cars. Electric cars are becoming more popular since governments across the globe have adopted strong pollution restriction policies and incentives.

Top Lithium-Ion Battery Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Lithium-Ion Battery Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Lithium-Ion Battery industry players.

Lithium-Ion Battery Market Competitive Landscape

Top Players in Lithium-Ion Battery Market

Contemporary Amperex Technology Co. Ltd.
BYD Company Ltd.
Panasonic Holdings Corporation
Samsung SDI
SK On Co., Ltd.
CALB Group
EVE Energy Co., Ltd.
Sunwoda Electronic Co., Ltd.
Lishen Battery Co., Ltd.
Farasis Energy
REPT BATTERO Energy
SVOLT Energy
AESC (Envision AESC)
GS Yuasa International Ltd.
Toshiba Corporation
Saft Group S.A.
Wanxiang A123 Systems Corp.
Johnson Controls (Clarios)
CBAK Energy Technology
Atlasbx Co., Ltd.

Lithium-Ion Battery Market

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Global Lithium-Ion Battery Market size was valued at USD 61.66 Billion in 2024 and is poised to grow from USD 70.48 Billion in 2025 to USD 205.31 Billion by 2033, growing at a CAGR of 14.3% during the forecast period (2026–2033).

The highly competitive lithium-ion battery industry is dominated by leading companies such as LG Energy Solution, Panasonic Corporation, Samsung SDI, CATL (Contemporary Amperex Technology Co. Ltd.), and Tesla Inc. As these businesses investigate the technical developments, strategic alliances, and large-scale productions in response to the increasing demand from diverse sectors such as consumer electronics and renewable energy and automobiles, there is also competition that emerges from new entrants seeking solutions that are sustainable and innovative for batteries. 'Contemporary Amperex Technology Co. Ltd.', 'BYD Company Ltd.', 'Panasonic Holdings Corporation', 'Samsung SDI', 'SK On Co., Ltd.', 'CALB Group', 'EVE Energy Co., Ltd.', 'Sunwoda Electronic Co., Ltd.', 'Lishen Battery Co., Ltd.', 'Farasis Energy', 'REPT BATTERO Energy', 'SVOLT Energy', 'AESC (Envision AESC)', 'GS Yuasa International Ltd.', 'Toshiba Corporation', 'Saft Group S.A.', 'Wanxiang A123 Systems Corp.', 'Johnson Controls (Clarios)', 'CBAK Energy Technology', 'Atlasbx Co., Ltd.'

Advancements in Battery Technology: The goal behind the continued development is increased efficiency, low cost, and fast recharge for lithium-ion-based batteries. It is found through innovations, for example, a solid-state battery, silicon anode technology, and the upcoming electrolyte, which provide greater market opportunity related to enhancing their life span and efficiency, increasing safety features also.

In 2024, Asia Pacific will again be the highest contributor in the industry in terms of demand for lithium-ion batteries, capturing more than 47.0% of the market share this year. The region benefits from the presence of major battery manufacturers in countries that dominate the world's production, such as China, Japan, and South Korea. Market expansion is accelerated by swift industrialization, alongside government incentives aimed at adopting the use of renewable energy and electrical vehicles. Infrastructure investment into producing electric vehicles, along with rising consumer demand for energy-saving products, sets up the region's leadership status. It is expected that Asia Pacific will remain the leading market in the next coming years due to continuous advancements in battery technology.