Will lithium-ion batteries become more popular in 2022?

Their potential is, however, yet to be reached. It is projected that between 2022 and 2030, the global demand for lithium-ion batteries will increase almost seven-fold, reaching 4.7 terawatt-hours in 2030.

How big is the lithium-ion battery market?

The global lithium-ion battery market was valued at some 40.5 billion U.S. dollars in 2020. It is projected that the market will grow at a GACR of 14.6 percent, reaching the size of almost 92 billion U.S. dollars in 2026. Lithium-ion batteries are used across several products and industries, from smartphones to electric cars.

What is the capacity of lithium-ion batteries in 2030?

Driven by the growing adoption rates of consumer electronics, personal mobility solutions, as well as electric cars, it is expected that in 2030, lithium-ion batteries with a total capacity of around 2,731 gigawatt hours will be placed on the market. Get notified via email when this statistic is updated.

Are lithium-ion batteries the future of EV batteries?

The rapid development of lithium-ion batteries (LIBs) in emerging markets is pouring huge reserves into, and triggering broad interest in the battery sector, as the popularity of electric vehicles (EVs)is driving the explosive growth of EV LIBs.

What is the power lithium battery market?

Power LIBs are an emerging industry with a potential market of hundreds of billions of dollars. The South Korean market research organization SNE Research released data on the global vehicle battery market in 2020. In that year, the total battery market was around 142.8 GWh (Kane and Research, 2021).

Why did automotive lithium-ion battery demand increase 65% in 2022?

Automotive lithium-ion (Li-ion) battery demand increased by about 65% to 550 GWh in 2022, from about 330 GWh in 2021, primarily as a result of growth in electric passenger car sales, with new registrations increasing by 55% in 2022 relative to 2021.