Press Release

Lithium Ion Battery Market to Grow at over 15% CAGR until 2024

Technological advancements coupled with rising demand for uninterrupted power supply to drive global lithium-ion battery market through 2024

According to a recent report published by TechSci research on “Global Lithium-Ion Battery Market By Type, By Shape, By Capacity, By Application, By Region, Competition, Forecast & Opportunities, 2024”, global lithium-ion battery  market is projected to grow at a CAGR of over 15% during 2019-2024, owing to rising requirement for energy storage solutions with governments in different countries taking policy-level initiatives to promote renewable power generation and electric vehicles adoption. Moreover, rapid technological advancements along with rising demand for power supply is further fueling growth in the market. Additionally, rising awareness regarding clean energy is further driving demand for lithium-ion batteries across the globe.

Browse 164 market data Figures spread through 199 Pages and an in-depth TOC on " Global Lithium-Ion Battery Market "

By capacity, global lithium-ion battery is categorized into Up to 4000 mAh, 4001 mAh – 15000 mAh, 15001 – 50000 mAh and Above 50,000 mAh. 4001-15000 mAh category accounted for the majority share in global lithium-ion battery in 2018 and is anticipated to continue its dominance during forecast period as well owing to wide range of applications powered by this range of batteries. The basic application areas of 4001-15000 mAh batteries include digital cameras, electric vehicles, camcorders, smartphones, wearable devices, etc. Among regions, North America lithium-ion battery market is expected to witness a significant growth during forecast period on account of growing demand for electric vehicles and growth in the consumer electronics sales in the North American countries. Moreover, technological advancements that support longer power back-ups and higher efficiencies in tablets, PCs and smartphones is further anticipated to positively influence North America lithium-ion battery market.

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“With the rising demand for electric vehicles, demand for lithium-ion batteries in automotive sector is anticipated to increase in the coming years, globally. Use of lithium-ion batteries in automobiles is gaining traction among manufacturers due to their light weight and small size, as compared to the nickel metal batteries used in e-vehicles. Furthermore, high demand for lithium-ion batteries from consumer electronics segment is further propelling growth in global lithium-ion battery market.” said Mr. Karan Chechi Research Director with TechSci Research, a research based global management consulting firm.

Global Lithium-Ion Battery Market By Type, By Shape, By Capacity, By Application, By Region, Competition, Forecast & Opportunities, 2024,” has evaluated the future growth potential of the global lithium-ion battery market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global lithium-ion market.


About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


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