Lithium-ion Battery Market Size

Lithium-ion Battery Market size was over USD 67.34 billion in 2024 and is anticipated to reach USD 634.97 billion by the end of 2037, witnessing around 18.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of lithium-ion battery is assessed at USD 77.47 billion.

The increasing adoption of the lithium-ion battery industry in the renewable energy sector is boosting market growth. In 2021, the US was able to manufacture 44 GWh of lithium-ion batteries.

Also, many countries are consuming lithium-ion batteries at a higher rate. As a result of its rapidly growing electronics and electric car industries, China is the world's biggest user of lithium.