Li-Ion Battery Market Share, Growing Demand, and Top Key Players psmarketresearch.com
The size of the lithium-ion battery market was valued at USD 49.6 billion in 2022, and it will grow at a CAGR of 16.3% in the years to come, to reach USD 165.6 billion by 2030, as per P&S Intelligence.
The U.S. had a higher revenue share, about 90%, in the recent past, in North America. The high prerequisite for these kind of batteries in the nation is credited to the extensive use of consumer electronics and electric vehicles. The increasing sales of EVs in the nation are largely driven by supportive government policies and strict targets for plummeting GHG emissions.
Furthermore, the nation’s consumer electronics industry is matured and captures a noticeable share of revenue. Moreover, cutting-edge technologies, including IoT and home automation, will similarly thrive the requirement for Li-ion batteries in the U.S.
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