Global Lithium-Ion (Li-ion) Market Trajectory & Analytics Report 2022 – Rising Offshore Wind Installations Present New Opportunities – ResearchAndMarkets.com

DUBLIN – (BUSINESS WIRE) – The report “Lithium-ion batteries (Li-ion) – Global market trajectory and analysis” has been added to ResearchAndMarkets.com’s offer.

The global lithium-ion (Li-ion) battery market will reach $ 92.3 billion by 2027

The global lithium-ion (Li-ion) battery market is estimated at $ 38.6 billion by 2020, reaching a revised size of $ 92.3 billion in 2027, growing at a CAGR of 13.3% during the analysis period 2020-2027.

Lithium nickel cobalt manganese (NMC), one of the segments analyzed in the report, is expected to grow at a CAGR of 16% to reach $ 46.4 billion at the end of the analysis period. Following an early analysis of the business implications of the pandemic and its induced economic crisis, the growth of the lithium iron phosphate (lfp) segment readjusts to a revised CAGR of 11.5% for the next 7 years. This segment currently accounts for 26.6% of the global lithium-ion (Li-ion) battery market.

The United States accounts for more than 15.1% of the global market size by 2020, while China is projected to grow at a CAGR of 16.5% for the period 2020-2027.

The U.S. lithium-ion (Li-ion) battery market is estimated at $ 5.8 billion by 2020. The country currently accounts for a 15.12% share of the global market. China, the world’s second largest economy, is projected to reach an estimated market size of US $ 19.1 billion by 2027, with a CAGR of 16.5% by 2027.

Other notable geographic markets include Japan and Canada, which forecast growth of 10.2% and 12%, respectively, over the period 2020-2027. Within Europe, Germany is expected to grow by approximately 12.3% CAGR, while the rest of the European market (as defined in the study) will reach $ 19.1 billion by 2027.

The lithium cobalt oxide (LCO) segment has a share of 11.6% in 2020

In the global cobalt lithium oxide (LCO) segment, the US, Canada, Japan, China and Europe will drive the estimated 3.9% CAGR for this segment. These regional markets, which represent a combined market size of $ 3.3 billion by 2020, will reach a projected size of $ 4.3 billion at the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India and South Korea, the Asia-Pacific market is expected to reach $ 12.3 billion by 2027, while Latin America will expand at 4.9% CAGR during the analysis period.

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