Lithium-ion Battery Market worth $135.1 billion by 2031 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 6, 2022 /PRNewswire/ -- Lithium-ion battery market size is estimated to be USD 44.5 billion in 2022 and is projected to reach USD 135.1 billion by 2031, at a CAGR of 13.1%,according to a new report by MarketsandMarkets.
- CHICAGO, Sept. 6, 2022 /PRNewswire/ -- Lithium-ion battery market size is estimated to be USD 44.5 billion in 2022 and is projected to reach USD 135.1 billion by 2031, at a CAGR of 13.1%,according to a new report by MarketsandMarkets.
- The plug-in vehicles is highly adopting lithium-ion batteries and rising development in smart electronic device is also another factor driving the demand for the lithium-ion battery market.
- Lithium Nickel Manganese Cobalt Oxide segment in the lithium-ion battery market was valued at USD 9.8 billion in 2021.
- Increasing adoption and awareness of hybrid electric vehicles and plug-in hybrid electric vehicles supports the growth of the lithium-ion battery market.