Automotive Lithium-Ion Battery Market: Trends, Innovations, and Global Growth

1. Automotive Lithium-Ion Battery Market Will Advance at a 16.8% CAGR 1 © Prescient & Strategic Intelligence Private Limited. All rights reserved

2. The automotive lithium-ion battery market is estimated to touch USD 18.7 billion in 2023, which will rise to USD 55.6 million, propelling at a 16.8% CAGR, by 2030. The progression of this industry is because of the surging need for hybrid & electric vehicles and the increasing R&D activities to enhance such battery performance. Moreover, the strict as well as necessary government guidelines implemented to protect the environment are also aiding the industry expansion. The passenger car category, based on vehicle type, is the largest contributor to the industry, and it will further propel at a 16.6% CAGR, during this decade. The increasing disposable salaries of customers, swift urbanization, and changing lifestyles are raising the demand for passenger cars across the globe, particularly in China. To download free sample pages of this report@ https://www.psmarketresearch.com/market- analysis/automotive-lithium-ion-battery-market/report-sample The commercial vehicle category, on the other hand, will propel at the fastest rate, during this decade. This is because of the high usage of lead-acid batteries in commercial automobiles as well as the mounting demand to substitute dead lead-acid batteries in such automobiles. The Lithium Iron Phosphate (LFP) category, on the basis of battery type, is dominating the automotive lithium-ion battery market. This can be because of the surging demand for LFP batteries from electric cars and electric bus makers. This is because these batteries have long lifespans and high energy density as well as thermal stability making them less likely to thermal runaway and overheat. In 2023, the fully electric category, on the basis of vehicle technology, is the largest contributor to the industry, with a 45% share. This can be because of the enhanced average quantity of batteries employed in fully electric vehicles compared to those in PHEVs and HEVs. The cylindrical category, based on battery form, will propel at the highest rate, during this decade. This is because of the swift heat loss by cylindrical cells in the discharging and charging, their increasing acceptance in various sectors, and their cost-efficiency. Inquire url=automotive-lithium-ion-battery-market before purchase@ https://www.psmarketresearch.com/send-enquiry?enquiry- APAC is leading the industry, and it is likely to remain the largest during this decade. This can be because of the high production as well as sales of EVs, coupled with the existence of various local and international players in this region. Europe is likely to propel at the fastest rate during this decade. This is because of the goal set by regional governments to boost the sales of EVs as well as the existence of key automobile businesses in this continent. 2 © Prescient & Strategic Intelligence Private Limited. All rights reserved

3. It is because of the surging demand for hybrid as well as electric automobiles, the automotive lithium- ion battery industry will continue to progress in the years to come. The research offers the size of the automotive lithium-ion battery market for the period 2017– 2030. Market Segmentation by Vehicle Type Two-Wheeler Passenger Car Commercial Vehicle • • • Market Segmentation by Battery Type Lithium–Iron Phosphate (LFP) Lithium–Manganese Oxide (LMO) Lithium–Nickel–Manganese–Cobalt (NMC) Lithium–Titanate Oxide (LTO) Lithium–Nickel–Cobalt–Aluminum Oxide (NCA) • • • • • Market Segmentation by Vehicle Technology Hybrid Plug-in Hybrid Fully Electric • • • Market Segmentation by Battery Form Cylindrical Prismatic Pouch • • • Market Segmentation by Region North America Automotive Lithium-Ion Battery Market oBy vehicle type oBy battery type oBy vehicle technology oBy battery form oBy country – U.S. and Canada Europe Automotive Lithium-Ion Battery Market oBy vehicle type oBy battery type oBy vehicle technology oBy battery form oBy country – Germany, U.K., France, Italy, Spain, and Rest of Europe • • 3 © Prescient & Strategic Intelligence Private Limited. All rights reserved

4. Asia-Pacific (APAC) Automotive Lithium-Ion Battery Market oBy vehicle type oBy battery type oBy vehicle technology oBy battery form oBy country – Japan, China, India, South Korea, Australia, and Rest of APAC Latin America (LATAM) Automotive Lithium-Ion Battery Market oBy vehicle type oBy battery type oBy vehicle technology oBy battery form oBy country – Brazil, Mexico, and Rest of LATAM Middle East and Africa (MEA) Automotive Lithium-Ion Battery Market oBy vehicle type oBy battery type oBy vehicle technology oBy battery form oBy country – Saudi Arabia, South Africa, U.A.E., and Rest of MEA • • • 4 © Prescient & Strategic Intelligence Private Limited. All rights reserved

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