Lithium-ion Battery Market Size - Statistics and Analysis - Forecast Period 2023-2027
The lithium-ion battery market is predicted to grow at a CAGR of 31% during the forecast period 2022-2027 by Technavio data and research experts. This market research report also predicts the statistics about the market size growth that will grow by USD 198.26 billion. There are various key factors that directly affect the lithium-ion battery market growth such as huge demand from the consumer electronics, growth in the shipments of the smart wearables, and the benefits of battery energy storage to handle erratic nature of renewables.
The predicted growth momentum seems incremental thus gives a positive outlook for the market as well as its respective investors. Consequently, such market conditions will further reinforce the position of vendors in the market.
Our researchers conclude the statistical predictions about some key market drivers via thorough data and information analysis. One such market driver is the rising demand from the consumer electronics, and it turns into one of the reasons for the lithium-ion battery market growth. Although there are other factors such as growing availability of the fuel cell solutions may affect the market growth negatively.
In addition, there are some key vendors operating in the market, mentioned below:
- AT & T Inc.
- Hitachi Ltd.
- BAK Power
- Exide Industries Ltd.
- GS Yuasa Corp.
- Envision Group
- BYD Co. Ltd.
The precisely illustrated statistical data consists of some key market information and analysis to get a better understanding of specific business requirement. Technavio, also has the subscription platform offering an instant lifetime access to the 17,000+ market reports and the world-class market intelligence at customized plans and rates.