From GlobeNewswire: 2024-06-12 20:30:00

The global lithium-ion battery market size is projected to reach USD 187.1 billion by 2032, with a CAGR of 14.2% from 2023. Key drivers include high energy density and diverse applications in consumer electronics, electric vehicles, and renewable energy storage. Major companies in the industry include LG Energy Solution, Samsung SDI, and Panasonic.

Lithium Cobalt Oxide (LCO) batteries, known for their high energy density and safety features, are gaining significant market share. These batteries are commonly used in smartphones, laptops, and digital cameras due to their exceptional performance. Battery capacities below 3,000 mAh are also popular, powering devices like smartwatches, digital cameras, and power banks.

In the telecommunications sector, the demand for lithium-ion batteries is expected to grow due to the deployment of new network technologies like 5G and 6G. These batteries offer high power density and a long life cycle, making them ideal for applications in telecom towers, access networks, and wireless base transceiver stations. North America is set to dominate the lithium-ion battery market, driven by the automotive and consumer electronics industries in the region. The US has abundant lithium resources, supporting the production of lithium-ion batteries locally.



Read more at GlobeNewswire: Lithium-ion Battery Market Size, Share, Industry Growth and