Analysis of the energy storage lithium battery industry

How big is the lithium-ion battery storage market?

The Lithium-ion Stationary Battery Storage Market was valued at USD 33 billion in 2021 and is projected to expand at over 21% Compound Annual Growth Rate (CAGR) from 2022 to 2032. The market size is expected to grow due to the rising emphasis on mitigating greenhouse gas emissions.

What is the lithium-ion battery market report?

The Lithium-Ion Battery Market report offers qualitative and quantitative insights on lithium-ion batteries and a detailed analysis of market size & growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape.

What percentage of lithium-ion batteries are used in the energy sector?

Despite their widespread use in personal devices, over 90% of annual lithium-ion battery demand now comes from the energy sector. This is a significant increase from 50% in 2016, when the total lithium-ion battery market was much smaller.

How will rising demand for lithium-ion batteries affect the battery industry?

Rising demand for substitutes, including sodium nickel chloride batteries, lithium-air flow batteries, lead acid batteries, and solid-state batteries, in electric vehicles, energy storage, and consumer electronics is expected to restrain the growth of the lithium-ion battery industry over the forecast period.

What is the global market for lithium-ion batteries?

The global market for lithium-ion batteries is expanding rapidly. We take a closer look at new value chain solutions that can help meet the growing demand.

What is lithium ion battery used for?

Li-ion batteries are also utilized for providing backup power supply for commercial buildings, data centers, and institutions. Also, lithium-ion battery is preferred for energy storage in residential solar PV systems. These factors will boost the growth of energy storage applications over the forecast period.