How big is the lithium-ion battery industry?

Global lithium-ion battery market 2020-2026 The global lithium-ion battery market was valued at some 40.5 billion U.S. dollars in 2020. It is projected that the market will grow at a GACR of 14.6 percent, reaching the size of almost 92 billion U.S. dollars in 2026.

What is the size of the battery market?

NEW YORK, Oct. 7, 2021 /PRNewswire/ — The global battery market size is expected to reach USD 328.07 billion in 2028 and register a revenue CAGR of 13.7\% over the forecast period, according to the latest report by Reports and Data.

Is the lithium market growing?

The global lithium market size is projected to reach USD 8.24 billion by the end of 2027. The increasing investments in lithium extraction methods have opened up a flexible application scope. The market was worth USD 4.09 billion in 2019 and will exhibit a CAGR of 9.2\% during the forecast period, 2020-2027.

How big is the lithium industry?

According to Verified Market Research, the Global Lithium Mining Market size was valued at USD 3.27 Billion in 2020 and is projected to reach USD 4.68 Billion by 2028, growing at a CAGR of 5.23\% from 2021 to 2028.

What is the demand for lithium batteries?

Demand for Lithium-Ion batteries to power electric vehicles and energy storage has seen exponential growth, increasing from just 0.5 gigawatt-hours in 2010 to around 526 gigawatt hours a decade later. Demand is projected to increase 17-fold by 2030, bringing the cost of battery storage down, according to Bloomberg.

Which company produces the most lithium?

Jiangxi Ganfeng
Jiangxi Ganfeng is the largest lithium metal producer in the world, while its lithium compound capacity ranks third worldwide and first in China. The firm holds lithium resources across Australia, Argentina, and Mexico and has over 4,844 employees.

What is the lithium industry worth?

SAN FRANCISCO, Nov. 16, 2021 /PRNewswire/ — The global lithium market size is expected to reach USD 8.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.8\% from 2021 to 2028.

Is lithium in high demand?

Lithium is one of the most in-demand commodities in the world today. With the ongoing shift to electric vehicles (EVs) and clean energy technologies, governments and EV manufacturers are rushing to secure their supply chains as demand for lithium soars.