The Latest Lithium Battery Industry Statistics Explained
Lithium-ion battery market size expected to reach USD 129.3 billion by 2027.
The statistic indicates that the market size of lithium-ion batteries is projected to grow significantly, with an expected value of USD 129.3 billion by the year 2027. This suggests a substantial increase in demand for lithium-ion batteries in various industries such as electric vehicles, consumer electronics, and energy storage systems. The growth in the market size can be attributed to the increasing adoption of electric vehicles, advancements in renewable energy technologies, and the need for efficient energy storage solutions. This forecast highlights the expanding role of lithium-ion batteries in the global economy and the growing importance of sustainable energy solutions.
The U.S. sees a 5X increase in lithium battery demand over the next decade as of 2021.
The statistic ‘The U.S. sees a 5X increase in lithium battery demand over the next decade as of 2021’ implies that there will be a substantial growth in the demand for lithium batteries in the United States over the next ten years. Specifically, the demand is projected to increase fivefold compared to the current levels in 2021. This significant surge in demand suggests a growing reliance on lithium batteries for various applications such as electric vehicles, renewable energy storage, consumer electronics, and more. The trend toward electrification, sustainability, and technological advancements are likely driving this heightened demand for lithium batteries, making it a key sector to watch in the coming years.
Battery capacity of electric vehicles reached 92 GWh in 2019.
The statement “Battery capacity of electric vehicles reached 92 GWh in 2019” indicates that the total energy storage capacity of all electric vehicle batteries combined was 92 gigawatt-hours in the year 2019. This statistic highlights the significant growth and adoption of electric vehicles, as higher battery capacities are essential for increasing the driving range and overall performance of electric cars. The 92 GWh figure provides a concrete measurement of the collective energy storage potential of electric vehicles in 2019, showing a notable increase in the capacity to power these environmentally friendly vehicles.
Global lithium-ion market witnessed a YOY growth of 17% in 2020.
The statistic ‘Global lithium-ion market witnessed a year-over-year (YOY) growth of 17% in 2020’ indicates that the overall market for lithium-ion batteries, a key component in many electronic devices and electric vehicles, experienced a substantial increase in value from 2019 to 2020. This growth suggests a growing demand for lithium-ion batteries worldwide, likely driven by the increasing adoption of electric vehicles, renewable energy sources, and portable electronic devices. The 17% YOY growth signifies a significant expansion in the market size and revenue generated by lithium-ion batteries, highlighting the importance and potential of this industry in the global economy.
In 2020, a total of 82,000 tons of lithium was used globally in batteries.
The statistic stating that in 2020, a total of 82,000 tons of lithium was used globally in batteries is indicative of the increasing reliance on lithium-ion batteries for various applications such as electric vehicles, portable electronics, and energy storage systems. The significant quantity of lithium usage represents a growing demand for rechargeable batteries as the world transitions towards a more sustainable and low-carbon economy. This statistic underscores the importance of lithium as a critical component in modern energy storage technologies and highlights the need for sustainable sourcing and recycling practices to ensure the long-term availability of lithium resources for future generations.
The transport segment accounts for the largest share of lithium-ion battery usage at over 60% in 2020.
The statistic indicates that within the various sectors utilizing lithium-ion batteries in 2020, the transport segment, including electric vehicles and other forms of transportation, comprised the largest portion, accounting for more than 60% of total lithium-ion battery usage. This suggests that the demand for lithium-ion batteries within the transportation industry significantly outweighed that of other sectors such as consumer electronics or energy storage applications. The data highlights the growing adoption of electric vehicles and the increasing importance of energy storage in the transportation sector, reflecting a shift towards more sustainable and environmentally friendly modes of transportation.
Lithium-ion battery recycling market size is expected to reach USD 18.1 billion by 2030.
The statistic indicates that the lithium-ion battery recycling market is projected to grow significantly and reach a value of USD 18.1 billion by the year 2030. This growth forecast suggests a robust demand for lithium-ion battery recycling services and technologies over the next decade, driven by increasing adoption of electric vehicles, renewable energy storage systems, and electronic devices utilizing lithium-ion batteries. As concerns about environmental sustainability and resource conservation continue to rise, the recycling of lithium-ion batteries is seen as an important step towards reducing waste and maximizing the recovery of valuable materials such as cobalt, nickel, and lithium. The projected market size highlights the potential economic opportunities and importance of sustainable practices in the battery industry.
The Asia Pacific lithium-ion battery market is projected to grow at the highest CAGR of 18.3% from 2020 to 2027.
The statistic suggests that the Asia Pacific lithium-ion battery market is expected to experience significant growth with a Compound Annual Growth Rate (CAGR) of 18.3% between 2020 and 2027. This indicates a substantial increase in the demand and adoption of lithium-ion batteries in the region during the forecast period. The high growth rate reflects various factors such as the rapid technological advancements, increasing awareness towards sustainable energy solutions, and the growing demand for electric vehicles and energy storage systems in countries across the Asia Pacific region. Companies operating in the lithium-ion battery industry are likely to benefit from this robust growth trend through expanding their market presence and capturing opportunities within this dynamic market landscape.
China was the largest lithium-ion battery market, accounting for over 35% of the global revenue in 2019.
The statistic that China was the largest lithium-ion battery market, accounting for over 35% of the global revenue in 2019 indicates the significant impact that China has had on the demand and adoption of lithium-ion batteries worldwide. The high percentage of global revenue attributed to China points to the country’s strong position in the market as a major consumer and producer of lithium-ion batteries. This statistic reflects China’s strategic investments in the electric vehicle industry and energy storage sector, driving both domestic and international demand for lithium-ion batteries. As such, China’s dominance in this market underscores its influence on the future of renewable energy technologies and global efforts to address climate change.
As of 2019, 97% of lithium for batteries came from mineral concentrate and mineral.
The statistic stating that as of 2019, 97% of lithium for batteries came from mineral concentrate and mineral signifies that the vast majority of lithium used in the production of batteries is sourced from minerals in concentrated form. This suggests that the lithium mining industry primarily relies on extracting lithium from mineral deposits rather than other sources, such as recycling or alternative technologies. The reliance on mineral extraction highlights the importance of sustainable mining practices and exploring diversification in lithium sourcing to mitigate potential environmental impacts and ensure a stable supply chain for the rapidly growing battery market.
In 2019, the total lithium reserve base worldwide was estimated at 86 million metric tons.
The statistic indicates that in 2019, the total estimated quantity of lithium reserves worldwide was 86 million metric tons. Lithium is a crucial element used in various industries, particularly in the production of batteries for electronic devices, electric vehicles, and energy storage systems. The availability of lithium reserves is essential for meeting the growing demand for clean energy technologies and sustainable transportation solutions. Understanding the global lithium reserve base helps governments, policymakers, and industry stakeholders make informed decisions regarding resource management, investment, and technological development to ensure a secure and sustainable supply of lithium.
The battery cell manufacturer CATL holds a 28% market share of the lithium-ion batteries for NEV in 2020.
This statistic indicates that Contemporary Amperex Technology Co. Limited (CATL) held a significant portion of the market for lithium-ion batteries used in New Energy Vehicles (NEVs) in the year 2020. Specifically, CATL accounted for 28% of the total market share, representing a strong position in the industry. This data highlights CATL’s competitive presence and influence in the market for NEV batteries, signaling its importance as a major player in providing battery solutions for electric vehicles during that year.
Energy storage systems are forecasted to account for 30% of global lithium-ion battery demand by 2030.
The statistic “Energy storage systems are forecasted to account for 30% of global lithium-ion battery demand by 2030” implies that the demand for lithium-ion batteries is expected to significantly increase by 2030, with a substantial portion of this demand driven by the rising need for energy storage solutions. Energy storage systems play a critical role in storing excess energy generated from renewable sources like solar and wind power, as well as providing backup power during peak demand periods. By 2030, it is projected that energy storage applications will make up nearly one-third of the total demand for lithium-ion batteries worldwide, reflecting the growing emphasis on sustainable energy practices and the transition towards cleaner and more efficient energy systems.
Consumer electronics was the second-largest end-use industry for lithium-ion batteries in 2020, with a 28% share of the total market.
The statistic indicates that consumer electronics ranked as the second-largest end-use industry for lithium-ion batteries in 2020, accounting for 28% of the total market share. This means that nearly one-third of all lithium-ion batteries produced in 2020 were destined for use in consumer electronics products such as smartphones, laptops, tablets, and other portable devices. The significant share of the market held by the consumer electronics industry highlights the widespread adoption and integration of lithium-ion batteries in these products, driven by the increasing demand for portable electronic devices and the need for long-lasting and rechargeable power sources.
Lithium-ion batteries for portable electronics are expected to grow at a CAGR of 16.5% between 2021 and 2028.
This statistic indicates that the market for lithium-ion batteries used in portable electronics is anticipated to experience a Compound Annual Growth Rate (CAGR) of 16.5% from the year 2021 to 2028. A CAGR of 16.5% implies that the market is expected to grow at a consistent rate over this period, with the value of the market increasing by an average of 16.5% each year. This growth rate is quite significant and suggests a strong demand for lithium-ion batteries in portable electronics such as smartphones, laptops, and other devices. Various factors such as technological advancements, increasing adoption of electronic devices, and a shift towards cleaner energy sources are likely driving this growth in the lithium-ion battery market for portable electronics.
The anode materials segment to exhibit the highest CAGR of 13.9% in the lithium-ion battery market during 2021-2028.
The statistic indicates that within the lithium-ion battery market, the anode materials segment is expected to experience the highest Compound Annual Growth Rate (CAGR) of 13.9% between the years 2021 and 2028. This means that the demand for anode materials used in lithium-ion batteries is projected to grow at a faster rate compared to other segments within the market during this period. Factors such as increasing adoption of electric vehicles, renewable energy storage systems, and portable electronic devices are likely driving this growth in demand for anode materials. This statistic suggests that businesses involved in the production or supply of anode materials for lithium-ion batteries may see significant opportunities for expansion and profit within the specified timeframe.
Lithium iron phosphate batteries will represent 10% of the lithium-ion battery market by 2025.
This statistic suggests that by the year 2025, lithium iron phosphate (LiFePO4) batteries are projected to account for 10% of the overall market share of lithium-ion batteries. Lithium iron phosphate batteries are a type of rechargeable battery that offers advantages such as longer lifespan, enhanced safety, and higher tolerance to high temperatures compared to other lithium-ion batteries. The forecasted market share of 10% signifies a potential increase in the adoption of lithium iron phosphate batteries due to their specific benefits and applications in various industries, including electric vehicles, renewable energy storage, and portable electronics. This trend indicates a growing recognition of the unique advantages of lithium iron phosphate batteries and their potential to contribute significantly to the overall lithium-ion battery market by 2025.
Lithium-ion battery production in Europe is expected to grow more than 10X by 2025.
The statistic that lithium-ion battery production in Europe is expected to grow more than 10 times by 2025 implies a dramatic and substantial increase in the manufacturing output of these types of batteries within the region. This growth projection suggests a significant surge in demand for lithium-ion batteries, likely driven by several factors such as the increasing popularity of electric vehicles, renewable energy storage systems, and portable electronic devices. The expansion of production capacity also indicates a shift towards cleaner energy sources and sustainability initiatives within the European market. This statistic highlights a promising future for the lithium-ion battery industry in Europe and reflects the ongoing global transition towards more efficient and environmentally friendly energy solutions.
The automotive segment is expected to dominate the lithium-ion battery market with almost 50% of the total market share by 2024.
This statistic suggests that the automotive industry is projected to have a significant presence in the lithium-ion battery market, accounting for nearly half of the total market share by the year 2024. This dominance is likely driven by the increasing demand for electric vehicles as a more sustainable and environmentally friendly mode of transportation. As automakers transition towards electrification to meet stricter emissions regulations and consumer preferences for cleaner energy sources, the use of lithium-ion batteries in electric vehicles is expected to surge. This forecast highlights the pivotal role that the automotive sector will play in driving growth within the lithium-ion battery market in the coming years.
The South Korean lithium-ion battery market is predicted to grow by a CAGR of 12.6% during 2020-2025.
This statistic indicates that the South Korean lithium-ion battery market is forecasted to exhibit a Compound Annual Growth Rate (CAGR) of 12.6% over the period from 2020 to 2025. This suggests a consistent and steady increase in the demand for and adoption of lithium-ion batteries within South Korea’s market landscape. The CAGR of 12.6% reflects a positive growth trend, demonstrating the market’s potential for expansion and the attractiveness of lithium-ion technology in various industries such as consumer electronics, electric vehicles, and energy storage systems. This projection can be valuable for businesses, investors, and policymakers seeking to capitalize on the growing opportunities within the South Korean lithium-ion battery market.
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