Lithium Battery Producers and Lithium Battery Market Trend
Lithium batteries can be divided into lithium metal batteries and lithium-ion batteries. Lithium metal batteries are the battery that uses manganese dioxide as the cathode material and lithium metal or its alloy metal as the negative material and use a non-aqueous electrolyte solution. Lithium-ion batteries are the battery that uses lithium metal oxide as the positive electrode material, graphite as the negative electrode material, and a non-aqueous electrolyte. The lithium-ion battery is a rechargeable battery with the advantages of high energy density, high operating voltage, small self-discharge, no memory effect, long cycle life, fast charging, lightweight, small size, light pollution.
The global lithium battery market size was $30.2 billion in 2017, growing to $53.5 billion in 2022, with a CAGR of 12.1% from 2017 to 2022. Benefiting from the rapid development of new energy vehicles and energy storage, the global lithium battery market is expected to reach $100 billion in 2027, with a CAGR of 13.3% from 2022 to 2027.
The global lithium battery manufacturers are mainly located in Asia. The top companies are LG, Contemporary Amperex Technology Co., Limited (CATL), Panasonic, Samsung, and BYD.
Lithium batteries are widely used in the field of Electric Vehicles, Consumer Electronics, smartphones, Portable computers, Energy Storage. New energy vehicles are the main consumer market for Lithium batteries.