The lithium-ion battery market size is expected to grow from USD 44.5 billion in 2022 to USD 135.1 billion by 2031; it is expected to grow at a CAGR of 13.1% from 2022 to 2031

Contributing sentiments towards policy:

62% : The countries in Asia Pacific are moving toward green energy and therefore are focusing on developing an ecosystem to manufacture lithium-ion batteries in respective countries.
59% : The key factors driving the growth of the lithium-ion battery market are surging demand for lithium-ion batteries from plug-in vehicles and renewable energy sector and advancements observed in smart electronic devices which deploy lithium-ion batteries; and thus provides various advantages to the industries.
57% : The power industry holds the largest CAGR of lithium-ion battery market from 2022 - 2031.Power is one of the key necessities and is crucial for the economic growth and welfare of a nation.
49% : Lithium-ion battery energy storage systems enable grid operators to save electricity when there is a surplus of renewable energy.
42% : The conventional sources of power are coal, natural gas, crude oil, etc., and non-conventional are wind, solar, etc.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.