The Lithium-Ion Battery Market Size is expected to grow from USD 44.5 billion in 2022 to USD 135.1 billion by 2031, at a CAGR of 13.1%. According to the report, the COVID-19 epidemic has raised demand for continuous power supply from vital infrastructures like hospitals and data centres, which is what is primarily driving the growth of the lithium-ion battery industry. Other factors that are anticipated to contribute to the market expansion include the growing demand for plug-in automobiles, the requirement for battery-operated material-handling equipment in industries due to automation, and the expanding use of lithium-ion batteries in the renewable energy sector.

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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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 lithium-ion battery category held the biggest market share in 2020, per a report. These high-capacity batteries are utilised in a variety of applications, including energy storage systems, telecommunication systems, material handling equipment, maritime, and electric cars. According to the report, there will likely be an increase in demand for lithium-ion batteries with a capacity of more than 10,000 mAh as a result of the increased popularity of electric vehicles, industry automation, and the growing requirement for dependable power backup options in critical infrastructure. Moreover, satellites, launch vehicles, and the aviation sector all require these high-capacity batteries.

Automotive segment is expected to hold the largest size of the lithium-ion battery market in 2020.

Throughout the forecast period, the lithium-ion battery market is anticipated to be dominated by the automotive sector. The lithium-ion battery industry is expanding as a result of the rising demand for battery-powered vehicles such electric cars, e-bikes, and robotic guided vehicles. The main users of lithium-ion batteries are battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric cars (PHEVs). The market for lithium-ion batteries is anticipated to expand as a result of the growing popularity and adoption of electric vehicles. Yet until the situation is stabilised globally, the COVID-19 epidemic has had an impact on the automobile industry and has disrupted global supply chains, which could have an influence on the growth of the lithium-ion battery business.

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APAC is projected to be the largest market for lithium-ion battery from 2021 to 2030.

From 2021 to 2030, the APAC region is anticipated to have the greatest market for lithium-ion batteries. With industry leaders like JAC Motors, BYD Co. Ltd., BAIC Group, SAIC Motor Corporation Limited, Nissan Motor Company Ltd., Mitsubishi Motors Corporation, and Toyota Motor Corp., the region held the greatest share of the lithium-ion battery market in 2020. Lithium-ion batteries are increasingly being used due to ongoing advancements in the consumer electronics and automotive industries, which provide a number of benefits including high power capacity, improved safety, and reduced pollution. Nonetheless, the COVID-19 epidemic has affected the world's manufacturing plants, causing closures. A few factories in China have started producing some necessities since production has resumed there.

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