Lithium-Ion Battery Market Share, Size, Analysis (2022-27) | Report

 

Market Overview:

Lithium-ion battery sales are anticipated to grow at a CAGR of about 20% from 2022 to 2027, from a market size of USD 57 billion in 2020 to USD 200 billion in 2027. Companies like BYD and CATL reduced their manufacturing capacities in 2020 as a result of the COVID-19 outbreak. Furthermore, the pandemic’s impact on electric vehicle sales as well as the slow growth of lithium-ion batteries both contributed to this development. The development of new markets for energy storage systems (ESS) for both commercial and residential applications, the price decline of lithium-ion batteries, and the rising popularity of consumer electronics are the main drivers of the market under study. But the growing gap between raw material supply and demand is likely to restrain the market’s expansion.

Scope of the Report

The lithium-ion battery market report includes:

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