Lithium-Ion Battery Market-converted

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The Global Lithium-Ion Battery Market Size is projected to grow from
USD 41.1 billion in 2021 to USD 116.6 billion by 2030; it is expected to
grow at a CAGR of 12.3% from 2021 to 2030. The growth of the
Lithium-Ion Battery Market is majorly driven by surging requirement
for continuous power supply from critical infrastructures in wake of
COVID-19, increasing demand for plug-in vehicles, growing need for
battery-operated material-handling equipment in industries due to
automation, continued development of smart devices, and growing
adoption of lithium-ion batteries in renewable energy sector.

10,000–60,000 MAh Lithium-Ion Battery accounted for the larger size
of the Lithium-Ion Battery Market in 2020.
The 10,000–60,000 MAh segment accounted for the largest market
share in 2020. Li-ion batteries with a capacity of more than 10,000 mAh
are used for applications requiring high capacity, such as electric
vehicles, plug-in hybrid electric vehicles, e-motorcycles, material
handling equipment, marine, robots, industrial, telecommunication
systems, electronic cash registers, standby power supplies, golf cart
vehicles, hybrid trucks, buses, smart grid, aviation industry, automated
guided vehicle, yachts, solar backup power, energy storage system (ESS)
platforms, military applications, low earth orbit (LEO), medium earth
orbit (MEO), and geostationary or geosynchronous orbit (GEO) satellites,
and launch vehicles.
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MarketsandMarkets
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Automotive Segment is expected to hold the largest size of the
Lithium-Ion Battery Market in 2020.
Automotive segment is expected to hold the largest share in the
Lithium-Ion Battery Market during the forecast period. Battery-driven
vehicles, such as electric vehicles, e-bikes, and automated guided
vehicles, are major consumers of lithium-ion batteries. Depending on
their source of power and application, EVs are classified into battery
electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in
hybrid electric vehicles (PHEVs). There is increasing competition
between battery models installed in EVs owing to the need for
operational excellence.

MarketsandMarkets
Presents
Increasing adoption and awareness of EVs supports the growth of the
Lithium-Ion Battery Market. Automobile original equipment
manufacturers (OEM) and players within the mobility industry are
among the worst hit by the COVID-19pandemic. Automobile OEMs
increasingly rely on just-in-time manufacturing, which is presently
affecting their production capabilities and overall exports owing to
supply chain disruptions. Automobile manufacturing plants are
producing and supplying a few automobiles owing to the global supply
chain disruptions resulting from lockdowns. This can impact the growth
of the Lithium-Ion Battery Market until COVID-19 cases stabilize globally.
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14593

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APAC is projected to be the largest market for Lithium-Ion Battery
from 2021 to 2030.
APAC accounted for the largest share of the Lithium-Ion Battery Market
in 2020. The leading players contributing to the growth of the market
in the region are JAC Motors (China), BYD Co. Ltd. (China), BAIC Group
(China), SAIC Motor Corporation Limited (China), Nissan Motor
Company Ltd. (Japan), Mitsubishi Motors Corporation (Japan), and
Toyota Motor Corp. (Japan), among others. Continuous developments
in the consumer electronics and automotive verticals have led to an
increase in the application of lithium-ion batteries as they offer various
advantages, such as high-power capacity, increased safety, and

MarketsandMarkets
Presents
However, the outbreak of COVID-19 has impacted the manufacturing
facilities of all verticals across the world, forcing them to shut down.
However, production has resumed in a few facilities in China, thereby
initiating the manufacturing of some essentials.

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Key Players
BYD Company (China), LG Chem (South Korea), Contemporary Amperex
Technology Co. Ltd. (CATL) (China), Samsung SDI (South Korea),
Panasonic Corporation (Japan), BAK Group (China), GS Yuasa
Corporation (GS Yuasa) (Japan), Hitachi (Japan), Clarios (Germany), and
Toshiba Corporation (Japan), are some of the major players in Lithium-
Ion Battery Market.
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