Global Lithium-ion Battery Market 2025-2035

Description

List of Tables

Lithium-ion Battery Market Size, Share & Trends Analysis Report by Type (Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP/LiFePO4), Lithium Nickel Manganese Cobalt (NMC), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate (LTO), Lithium Iron Phosphate (LFP), and Others) by Source (Synthetic, and Natural) and by Application (Automotive, Consumer electronics, Energy Storage Systems, Industrial, Aerospace & defense, Medical Devices, Military, and Others (Marine)) Forecast Period (2026-2035)

Industry Overview

Lithium-ion battery market was valued at $167.2 billion in 2025 and is projected to reach $535.2 billion by 2035, growing at a CAGR of 11.2% during the forecast period (2026-2035). The increasing adoption of solar and wind energy is driving a greater demand for lithium-ion storage systems, which play a critical role in maintaining grid stability and ensuring a consistent power supply from renewable sources.

As per the Ministry of New and Renewable Energy, Gov.., in July 2025, energy storage capacity projections

National Electricity Plan 2023 predicts 82.37 GWh energy storage capacity in 2026-27.
Expected increase to 411.4 GWh in 2031-42.
Energy storage requirement projected to rise to 2380 GWh by 2047 due to increased renewable energy use.
Energy Storage Obligations (ESO) path announced by the Ministry of Power for adequate storage capacity.
ESO to grow from 1% in FY 2023-24 to 4% in FY 2029-30, with a 0.5% annual growth.
ESO is fulfilled when at least 85% of total energy stored is procured from renewable energy sources annually.

Market Dynamics

Rising Demand for IoT and Connected Devices

Increasing dependence on IoT and interconnected devices is not just transforming consumer electronics but is additionally developing top-scale opportunities for next-generation energy storage technologies worldwide. As industries seek batteries with high energy density, high discharge rates, and long lifetimes, technologies like next-generation lithium-ion and solid-state are becoming essential. This is propelling the rapid expansion of the global lithium-ion battery market, which is being driven by demand from industries such as automotive, aerospace, renewable energy storage, and portable electronics. For instance, in April 2025, ITEN launched a new energy storage battery technology with an industry-leading record discharge rate of 200 °C, 100 times higher than that of traditional Li-ion batteries. This technology is produced in volume to address increasing demand from IoT and connected devices. ITEN's nanomaterial expertise enables fully ceramic electrodes with a patented mesoporous structure, enabling power density, recharge rate, safety, and reliability. ITEN's Powency solid-state batteries target high power density, and therefore, they are the best suited for high-power IoT applications. It can supply 30 milliamps for 50-millisecond pulse durations. The batteries are area-optimized, enabling cellular Low Power Wide Area Network (LPWAN) communications. It's appropriate for wireless sensors, remote controls, metering, asset tracking, agriculture, and smart homes. ITEN additionally works on next-generation SMD solid-state batteries for wearables, healthcare, and consumer markets.

Market Segmentation

Based on the type, the market is segmented into lithium cobalt oxide (LCO), lithium iron phosphate (LFP/LiFePO4), lithium nickel manganese cobalt (NMC), lithium manganese oxide (LMO), lithium titanate (LTO), lithium iron phosphate (LFP), and others (solid-state lithium (solid electrolytes), and lithium-sulfur (Li-S)).
Based on the application, the market is segmented into automotive, consumer electronics, energy storage systems, industrial, aerospace & defense, medical devices, military, and others (marine)

Automotive: A Key Segment in Market Growth

Global electric vehicle production is boosting a parallel growth in the lithium-ion battery industry, as original equipment manufacturers expand production to supply both automotive and energy storage applications. As per the IEA (International Energy Agency), in 2024, global sales of electric cars totaled more than 17 million globally, a growth of over 25%. The extra 3.5 million vehicles sold in 2023 exceeded the sales for the year 2020. China led the market as always with over 11 million sales, a number higher than the world's total for two years ago. Expansion in Europe was slowed by declining subsidies and EU CO2 targets remaining unchanged in 2023-2024. In the US, the sales of electric vehicles expanded further but at one-quarter of last year's rate. Sales in the rest of the globe recorded a record high of almost 40%, reaching 1.3 million, coming close to half of the US sales of 1.6 million.

Regional Outlook

The global lithium-ion battery market is further divided by region, including North America (the US and Canada), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Growing Demand for Battery-Grade Material in North America

The growth in electric cars, consumer devices, and energy storage systems is fueling the growing demand for lithium-ion battery parts, especially cathode and anode materials. For instance, in April 2024, Green Li-ion opened North America's first commercial-scale factory for recycling lithium-ion engineered battery materials through patented green hydrorejuevenation technology to develop precious battery-grade anode and cathode materials from retired batteries. The recycling of North American spent lithium-ion batteries is sorted, shredded, and processed into black mass and sulfates. The hydrometallurgical technology produces battery-grade precursor cathode active material from recycled scrap, lowering production time and emissions. The Atoka plant is North America's first to process unsorted black mass, achieving 99 percent purity.

Asia-Pacific Maintains Strong Market Position

Asia-Pacific has a huge market share, considering that the market growth is mainly led by India's mobile and electronics sector is diversified and growing fast, with high-endurance battery dependency in a wide range of applications such as mobile phones, power banks, IT hardware, telecom devices, smart agriculture, and defense electronics. According to the India Cellular and Electronics Association (ICEA), the battery demand is likely to witness high growth in the consumer electronics industry, with an 18 GWh annual requirement for mobile phones and power banks predicted by the year 2025. The growth is being fueled by an increase in sales of these products, which is expected to rise from 300 million units a year currently to 1.2 billion units a year by 2030. Demand will also be boosted by Internet of Things (IoT) devices and telecommunication towers.

Market Players Outlook

The major companies operating in the global lithium-ion battery market include Contemporary Amperex Technology Co. Ltd. (CATL), LG Energy Solution, Ltd., EVE Energy, Panasonic Energy Co., Ltd., SAMSUNG SDI Co., Ltd., SK On (via SK Innovation), CALB, Gotion High-Tech, and BYD Corp, among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.

Recent Developments

In July 2025, Kalmar launched its second-generation lithium-ion battery solution for its range of electric counterbalanced equipment, which covers reachstackers, empty container handlers, and forklifts. The new battery system promises greater energy capacity, better thermal stability, and a longer performance curve in different operating conditions. The solution is currently available worldwide with the European standard, and US and China versions will be available in 2026. Gen 2 battery technology responds to growing demands for safer, more efficient, and environmentally friendly cargo-handling solutions.
In July 2025, Panasonic Energy started mass production at a Kansas automotive lithium-ion battery factory with a goal of 32 GWh of yearly capacity to drive US local manufacturing.
In February 2025, Renesas Electronics launched a comprehensive lithium-ion battery management solution with pre-validated firmware, which enables developers to create safe, power-efficient systems. The R-BMS F solution for the lithium-ion batteries in 2-4 and 3-10 cell series features fuel gauge ICs, an onboard microcontroller, pre-programmed firmware, software, development tools, and complete documentation. The solution is also available in evaluation kits. The solutions provide pre-configured firmware for battery management systems, simplified development with features including cell balancing, current control, voltage/temperature monitoring, and parameter adjustment via a GUI.
In February 2025, Clarios produced its one millionth lithium-ion 12-volt battery, which is a testament to its place in low-voltage energy storage technologies vital in high-electrification vehicles such as IC, hybrids, and PHEVs. It produced its one millionth lithium-ion 12V battery, a milestone from a pure lead-acid producer to a chemistry-agnostic provider, vital in high-electrification vehicles.

The Report Covers:

Market value data analysis of 2025 and forecast to 2035.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global lithium-ion battery market. Based on the availability of data, information related to new products and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2023366

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Global Lithium-ion Battery Market Sales Analysis - Type | Application ($ Million)
Lithium-ion Battery Market Sales Performance of Top Countries
1.1. Research Methodology
Primary Research Approach
Secondary Research Approach
1.2. Market Snapshot

2. Market Overview and Insights

2.1. Scope of the Study
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Lithium-ion Battery Market Trends
- 2.2.2. Market Recommendations

3. Market Determinants

3.1. Market Drivers
- 3.1.1. Drivers For Global Lithium-ion Battery Market: Impact Analysis
3.2. Market Pain Points and Challenges
- 3.2.1. Restraints For Global Lithium-ion Battery Market: Impact Analysis
3.3. Market Opportunities
- 3.3.1. Opportunities For Global Lithium-ion Battery Market: Impact Analysis

4. Competitive Landscape

4.1. Competitive Dashboard - Lithium-ion Battery Market Revenue and Share by Manufacturers
Lithium-ion Battery Comparison Analysis
Top Market Player Ranking Matrix
4.2. Key Company Analysis
- 4.2.1. BYD Company Ltd.
  - 4.2.1.1. Overview
  - 4.2.1.2. Product Portfolio
  - 4.2.1.3. Financial Analysis
  - 4.2.1.4. SWOT Analysis
  - 4.2.1.5. Business Strategy
- 4.2.2. Contemporary Amperex Technology Co. Ltd. (CATL)
  - 4.2.2.1. Overview
  - 4.2.2.2. Product Portfolio
  - 4.2.2.3. Financial Analysis
  - 4.2.2.4. SWOT Analysis
  - 4.2.2.5. Business Strategy
- 4.2.3. LG Energy Solution, Ltd.
  - 4.2.3.1. Overview
  - 4.2.3.2. Product Portfolio
  - 4.2.3.3. Financial Analysis
  - 4.2.3.4. SWOT Analysis
  - 4.2.3.5. Business Strategy
- 4.2.4. Panasonic Energy Co., Ltd.
  - 4.2.4.1. Overview
  - 4.2.4.2. Product Portfolio
  - 4.2.4.3. Financial Analysis
  - 4.2.4.4. SWOT Analysis
  - 4.2.4.5. Business Strategy
- 4.2.5. SAMSUNG SDI Co., Ltd.
  - 4.2.5.1. Overview
  - 4.2.5.2. Product Portfolio
  - 4.2.5.3. Financial Analysis
  - 4.2.5.4. SWOT Analysis
  - 4.2.5.5. Business Strategy
4.3. Top Winning Strategies by Market Players
- 4.3.1. Merger and Acquisition
- 4.3.2. Product Launch
- 4.3.3. Partnership And Collaboration

5. Global Lithium-ion Battery Market Sales Analysis By Type ($ Million)

5.1. Lithium Cobalt Oxide (LCO)
5.2. Lithium Iron Phosphate (LFP/LiFePO4)
5.3. Lithium Nickel Manganese Cobalt (NMC)
5.4. Lithium Nickel Cobalt Aluminum Oxide (NCA)
5.5. Lithium Manganese Oxide (LMO)
5.6. Lithium Titanate (LTO)
5.7. Lithium Iron Phosphate (LFP)
5.8. Others(Solid-State Lithium (solid electrolytes), and Lithium-sulfur (Li-S))

6. Global Lithium-ion Battery Market Sales Analysis By Application ($ Million)

6.1. Automotive
6.2. Consumer electronics
6.3. Energy Storage Systems
6.4. Industrial
6.5. Aerospace & defense
6.6. Medical Devices
6.7. Military
6.8. Others (Marine)

7. Regional Analysis

7.1. North American Lithium-ion Battery Market Sales Analysis - Type | Application ($ Million)
Macroeconomic Factors for North America
- 7.1.1. United States
- 7.1.2. Canada
7.2. European Lithium-ion Battery Market Sales Analysis - Type | Application ($ Million)
Macroeconomic Factors for Europe
- 7.2.1. UK
- 7.2.2. Germany
- 7.2.3. Italy
- 7.2.4. Spain
- 7.2.5. France
- 7.2.6. Russia
- 7.2.7. Rest of Europe
7.3. Asia-Pacific Lithium-ion Battery Market Sales Analysis - Type | Application ($ Million)
Macroeconomic Factors for Asia-Pacific
- 7.3.1. China
- 7.3.2. Japan
- 7.3.3. South Korea
- 7.3.4. India
- 7.3.5. Australia & New Zealand
- 7.3.6. ASEAN Countries (Thailand, Indonesia, Vietnam, Singapore, And Other)
- 7.3.7. Rest of Asia-Pacific
7.4. Rest of the World Lithium-ion Battery Market Sales Analysis - Type | Application ($ Million)
Macroeconomic Factors for the Rest of the World
- 7.4.1. Latin America
- 7.4.2. Middle East and Africa

8. Company Profiles

8.1. A123 Systems Corp.
- 8.1.1. Quick Facts
- 8.1.2. Company Overview
- 8.1.3. Product Portfolio
- 8.1.4. Business Strategies
8.2. BAK Technology Co., Ltd.
- 8.2.1. Quick Facts
- 8.2.2. Company Overview
- 8.2.3. Product Portfolio
- 8.2.4. Business Strategies
8.3. BYD Company Ltd.
- 8.3.1. Quick Facts
- 8.3.2. Company Overview
- 8.3.3. Product Portfolio
- 8.3.4. Business Strategies
8.4. Clarios, LLC
- 8.4.1. Quick Facts
- 8.4.2. Company Overview
- 8.4.3. Product Portfolio
- 8.4.4. Business Strategies
8.5. Contemporary Amperex Technology Co. Ltd. (CATL)
- 8.5.1. Quick Facts
- 8.5.2. Company Overview
- 8.5.3. Product Portfolio
- 8.5.4. Business Strategies
8.6. EVE Energy Co., Ltd.
- 8.6.1. Quick Facts
- 8.6.2. Company Overview
- 8.6.3. Product Portfolio
- 8.6.4. Business Strategies
8.7. Exide Technologies
- 8.7.1. Quick Facts
- 8.7.2. Company Overview
- 8.7.3. Product Portfolio
- 8.7.4. Business Strategies
8.8. Green Li-ion Pte Ltd.
- 8.8.1. Quick Facts
- 8.8.2. Company Overview
- 8.8.3. Product Portfolio
- 8.8.4. Business Strategies
8.9. GS Yuasa International Ltd.
- 8.9.1. Quick Facts
- 8.9.2. Company Overview
- 8.9.3. Product Portfolio
- 8.9.4. Business Strategies
8.10. HBL Power Systems
- 8.10.1. Quick Facts
- 8.10.2. Company Overview
- 8.10.3. Product Portfolio
- 8.10.4. Business Strategies
8.11. Hitachi High-Tech Corp.
- 8.11.1. Quick Facts
- 8.11.2. Company Overview
- 8.11.3. Product Portfolio
- 8.11.4. Business Strategies
8.12. Kalmar Corp.
- 8.12.1. Quick Facts
- 8.12.2. Company Overview
- 8.12.3. Product Portfolio
- 8.12.4. Business Strategies
8.13. LG Energy Solution, Ltd.
- 8.13.1. Quick Facts
- 8.13.2. Company Overview
- 8.13.3. Product Portfolio
- 8.13.4. Business Strategies
8.14. Lishen Battery Joint-Stock Co., Ltd.
- 8.14.1. Quick Facts
- 8.14.2. Company Overview
- 8.14.3. Product Portfolio
- 8.14.4. Business Strategies
8.15. Loom Solar Pvt. Ltd.
- 8.15.1. Quick Facts
- 8.15.2. Company Overview
- 8.15.3. Product Portfolio
- 8.15.4. Business Strategies
8.16. Panasonic Energy Co., Ltd.
- 8.16.1. Quick Facts
- 8.16.2. Company Overview
- 8.16.3. Product Portfolio
- 8.16.4. Business Strategies
8.17. Renesas Electronics Corp.
- 8.17.1. Quick Facts
- 8.17.2. Company Overview
- 8.17.3. Product Portfolio
- 8.17.4. Business Strategies
8.18. Saft Groupe SAS
- 8.18.1. Quick Facts
- 8.18.2. Company Overview
- 8.18.3. Product Portfolio
- 8.18.4. Business Strategies
8.19. SAMSUNG SDI Co., Ltd.
- 8.19.1. Quick Facts
- 8.19.2. Company Overview
- 8.19.3. Product Portfolio
- 8.19.4. Business Strategies
8.20. SK Innovation Co., Ltd.
- 8.20.1. Quick Facts
- 8.20.2. Company Overview
- 8.20.3. Product Portfolio
- 8.20.4. Business Strategies
8.21. Sunwoda Electronic Co., Ltd.
- 8.21.1. Quick Facts
- 8.21.2. Company Overview
- 8.21.3. Product Portfolio
- 8.21.4. Business Strategies
8.22. Toshiba Group
- 8.22.1. Quick Facts
- 8.22.2. Company Overview
- 8.22.3. Product Portfolio
- 8.22.4. Business Strategies