Energizing Tomorrow: Why the Lithium-Ion Battery Market is Set to Boom?
Lithium-ion Battery Industry Overview The global lithium-ion battery market size was estimated at USD 182.5 billion in 2030 and is projected to register a compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. The market is expected to witness significant growth over the forecast period on account of the increasing consumption of rechargeable batteries in consumer electronics and a rise in the adoption of electric vehicles. The rising sales of electric vehicles, along with the expanding renewable energy sector, are expected to drive the market. The emergence of integrated charging stations, green power-generation capability, eMobility providers, battery manufacturers, and energy suppliers is anticipated to stimulate market growth in the coming years. Increasing sales of electric vehicles in the U.S. owing to supportive federal policies, coupled with the presence of market players in the country, are expected to drive the demand...