Global Lithium-ion Battery Cathode Market: Trends, Opportunities, and Forecasts 2023-2030
The global lithium-ion battery cathode market size is expected to reach USD 89.35 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.9% from 2023 to 2030. Increasing adoption of portable electronics and electric vehicles which uses rechargeable batteries as power source is one of the major factors driving the market growth.The battery technology is developing continuously to meet the power density and performance requirements of devices. The worldwide registration of electric vehicles is anticipated to increase significantly over the forecast period. Also, rising availability of charging outlets and financial incentives have emerged as crucial factors for the development of lithium-ion cathode market, bolstered by the lower running cost of EVs compared to conventional ICE-operated vehicles. Technological advancements and increasing demand for lithium-ion batteries from emergi...