Advanced Lithium-Ion Battery Market Size was valued at USD 46,010.43 million in 2022. The Advanced Lithium-Ion Battery Market industry is projected to grow from USD 55,392.36 million in 2023 to USD 1,72,401.19 million by 2030, exhibiting a compound annual growth rate (CAGR) of 17.95% during the forecast period (2021 - 2030).
The global advanced lithium-ion battery is rapidly growing due to the government initiative for EV mobility worldwide and strategic investment in R&D by lithium-ion battery manufacturers. Furthermore, enhanced battery technology and adoption of lean manufacturing operation likely to present a growth opportunity for the players in the global market.
The Advanced Lithium-Ion Battery Market growth is expected to be driven by key factors such as government initiatives for EV mobility worldwide and strategic investment in R&D by lithium-ion battery manufacturers. However, factors such as the high cost of advanced lithium-ion batteries and growing incidents of battery failure are expected to restrict the market growth. On the other hand, enhanced battery technology and adoption of lean manufacturing operations pose lucrative opportunities for the globally advanced lithium-ion battery market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The transition to electric mobility is a promising global strategy for decarbonizing the automotive sector. The government of different countries across the globe is supporting the EV30 campaign, which targets to have at least 30% of new vehicle sales be electric by 2030. Public authorities' primary objective is accelerating EV adoption across vehicle segments, ultimately enhancing the advanced lithium-ion battery market growth in the coming years. Also, the climate change commitments made by governments of various countries during the COP21 summit held in Paris to reduce emission intensity by 33-35% by 2030 from 2005 levels will stimulate the growth of the Advanced Lithium-Ion Battery Market.
Electric mobility will contribute to balancing energy demand, energy storage, and environmental sustainability and could help diversify the energy needed to move people and goods. Moreover, the ‘Electric Vehicles Initiative’ is a multi-governmental policy forum established in 2010 under the Clean Energy Ministerial (CEM). Electric Vehicles Initiative is dedicated to accelerating the adoption of EVs worldwide. It strives to understand better the policy challenges related to electric mobility, help governments address them, and serve as a platform for knowledge sharing.
The government various countries offer different financial incentives to make electric vehicles more affordable, such as discounts, coupon reimbursement, interest subventions, road tax exemption, income tax benefit, and scrapping incentives. Also, the government of India has launched the National Electric Mobility Mission Plan 2020. This mission has developed two schemes, FAME 1 and FAME 2. The Faster Adoption and Manufacturing of Electric Vehicles (FAME India) scheme aims to boost electric mobility.
Lithium-ion batteries are the most suitable existing technology used in electric vehicles due to their high energy output offerings, which will boost the advanced lithium-ion battery market. Therefore, several intergovernmental and country-specific initiatives will help further augment the advanced global lithium-ion battery market in the coming years.
The sales of advanced lithium-ion batteries are likely to be propelled by customer preferences, business models, product technology, and regulatory framework development. Major players operating in the advanced lithium-ion battery market are using energy-efficient technology to introduce high-power output batteries, which can further tackle energy storage-related challenges. The advanced lithium-ion battery industry has become one of the most significant worldwide, not only at the economic level but also in R&D. More technological elements are being introduced into batteries to improve vehicle and environmental safety.
Additionally, the market is affected by small- and medium-scale regional manufacturers who offer innovative advanced lithium-ion batteries at considerably low prices. These local players position themselves as regional experts in the particular product segment and excel in state and national sales. Furthermore, the successful track record of developing advanced lithium-ion batteries by major companies such as LG Chem, Toshiba Corporation, Durapower Group, Johnson Battery Technology, and Panasonic is driving the growth of the advanced lithium-ion battery market across the globe.
The Advanced Lithium-Ion Battery Market segmentation, based on Material has been segmented into Anode Materials and Cathode Materials. In 2022, the Cathode Materials segment drove the Advanced Lithium-Ion Battery Market by holding a substantial market share. Li-ion batteries' major component, cathode materials, control a cell's energy density through cell voltage and capacity. Lithium-ion batteries are frequently based on intercalation/deintercalation compounds.
Lithium ions supplied by the cathode are injected into the host lattice (anode) during charge and withdrawn during discharge with a slight structural change in the host material. The selection of cathode material for specific chemistry is influenced by several variables, including the voltage, capacity, energy and power capabilities, cycle life, and operating temperature of the cell.
Based on component capacity, the Advanced Lithium-Ion Battery Market is segmented into Separators, Current Collectors, Binders, Solvents, and Solid-State Electrolytes. In 2022, the Solid-State Electrolytes segment drove the Advanced Lithium-Ion Battery Market by holding a substantial market share during the assessment period. The lithium-ion battery (LIB) anode materials created via electrolyte breakdown have a passivation layer on their surface known as the solid electrolyte interface (SEI).
The cyclability, rate capacity, irreversible capacity loss, and safety of lithium-ion batteries are highly influenced by the SEI's quality (LIBs). Solid electrolytes have the potential to replace traditional organic electrolytes, which are poisonous and combustible and conduct lithium ions at room temperature. They enable the use of lithium metal as the anode while also significantly enhancing battery safety.
Based on End Use, the Advanced Lithium-Ion Battery Market is segmented into Consumer Electronics, Automotive, Industrial, and Others. In 2022, the Consumer Electronics segment drove the Advanced Lithium-Ion Battery Market by holding a substantial market share during the assessment period. It is projected to register a highest growth rate during the projected timeframe. This is attributed to the procurement of consumer electronic devices in China and the US. Growing complexities in device design and the need for efficiency can lead the sector to be its biggest end user.
Based on Region, the Advanced Lithium-Ion Battery market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia-Pacific Advanced Lithium-Ion Battery market held the maximum market share and is also expected to account for the significant revenue share during the forecast period. The Asia-Pacific region has emerged as a leading player in the Advanced Lithium-Ion Battery Market due to its role as a global manufacturing hub. Asia-Pacific is expected to expand significantly during the forecast period due to increased demand for electric vehicles, primarily in developing countries such as China and India.
The growing electric vehicles market in Asia-Pacific countries, such as India and China, is a significant factor that positively influences the demand for lithium-ion batteries. These countries have substantial potential for several application areas for lithium-ion batteries. Also, large electronic manufacturers such as Sony Corp, Samsung SDI, and Panasonic fuel the market growth in this region.
The Advanced Lithium-Ion Battery Market is characterized by many regional and local vendors. The regional market is highly competitive, with all the players competing to gain a larger market share. The vendors compete based on cost, product quality, reliability, and aftermarket services. Therefore, vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.
Lg Chem, Panasonic, Byd Motors Inc, Samsung Sdi, Toshiba, Contemporary Amperex Technology Co., Limited, Broadbit Batteries Oy, 24m Technologies, NGK Insulators, Johnson Battery Technologies, Inc, Durapower Group, Tanktwo, Johnson Matthey, Voltaiq, Prieto Battery Inc, Cadenza Innovation Inc, SK Innovations are the major players in the market, competing in terms of variety of applications of Global AC Driver Market and their components, as well as efficiency, reliability, affordability, and advanced technology. The primary focus of the players is to provide advanced products to aid in increasing adoption, which could help strengthen a country's growth with advanced products. Although global players dominate the market, a few regional and other local players with a limited market share also have a prominent presence.
The major players would look to strengthen their global presence through mergers & acquisitions of local and regional players. They are expected to expand their presence and solutions in those countries during the forecast period. Therefore, vendors must develop new technologies to stay at par with emerging technology trends that could affect the competitiveness of their product lines in the market.
LG Chem: LG Chem Ltd manufactures and sells a variety of chemicals, electronics, and energy storage products. The company operates in three major segments: Basic Materials & Chemicals, IT & Electronic Materials, and Energy Solutions. The Basic Materials & Chemicals segment, which generates the majority of revenue, sells plastics, including naphtha, polyvinyl chloride (PVC), engineered plastics, polyolefin, and rubber-based products. The IT & Electronic Materials segment sells various products, including optical and circuit board materials. The Energy Solutions segment sells mobile and automotive batteries and energy storage systems. LG Corporation is the company's largest shareholder, owning around one-third of outstanding shares. The majority of revenue comes from Asia.
SK Innovation: SK Innovation Co Ltd (SK) is a global energy and chemical company. It operates in petroleum production, refining, chemicals, and lubricants. Operations are divided into four segments: Petroleum, Petrochemicals, Lubricants, and Others. The Petroleum segment provides the majority of the revenue for the group. SK engages in exploration and production activities around the world. Petroleum products like gasoline, diesel, and asphalt are produced in Korea's refineries. The business has a network of gas stations with a paid membership service. Additional subsidiaries under the Petroleum segment provide customized service information for freight truck business operators and a website for enterprise customers of SK Energy.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 46,010.43 million |
| Market Size 2023 | USD 55,392.36 million |
| Market Size 2030 | USD 1,72,401.19 million |
| Compound Annual Growth Rate (CAGR) | 17.95% (2021-2030) |
| Forecast Period | 2021-2030 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material, Component Capacity, End Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Rest of World |
| Countries Covered | US, Canada, Mexico, Germany, UK, France, Spain, Italy, China, Japan, India, South Korea, Australia, Brazil, Argentina, South Africa, Saudi Arabia, UAE |
| Key Companies Profiled | Lg Chem, Panasonic, Byd Motors Inc, Samsung Sdi, Toshiba, Contemporary Amperex Technology Co., Limited, Broadbit Batteries Oy, 24m Technologies, NGK Insulators, Johnson Battery Technologies, Inc, Durapower Group, Tanktwo, Johnson Matthey, Voltaiq, Prieto Battery Inc, Cadenza Innovation Inc, SK Innovations |
| Key Market Opportunities | Enhanced battery technology and adoption of lean manufacturing operation |
| Key Market Dynamics | Strategic investment in R&D by lithium-ion battery manufacturers |
Advanced Lithium Ion Batteries Market Highlights:
Frequently Asked Questions (FAQ) :
Advanced Lithium-Ion Battery Market Size US$ 46,010.43 Mn in 2022
Growth rate of the Advanced Lithium-Ion Battery Market 17.95% By 2030
Asia-Pacific held the largest market share in the Advanced Lithium-Ion Battery Market
Advanced Lithium-Ion Battery Market key Players: Lg Chem, Panasonic, Byd Motors Inc, Samsung Sdi, Toshiba, Contemporary Amperex Technology Co., Limited, Broadbit Batteries Oy, 24m Technologies, NGK Insulators, Johnson Battery Technologies, Inc, Durapower Group, Tanktwo, Johnson Matthey, Voltaiq, Prieto Battery Inc, Cadenza Innovation Inc, SK Innovations
Cathode Materials Material had the largest market share in the Advanced Lithium-Ion Battery Market
Consumer Electronics End Use had the largest market share in the Advanced Lithium-Ion Battery Market
Advanced Lithium-Ion Batteries Market is expected to grow at a CAGR of 26% during the forecast period and is expected to reach USD 112 Billion by 2030.
$112 Billion
26%
Asia Pacific
2022-2030
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
Get in Touch
© 2025 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
