2024-2030 Lithium-ion Battery Market Analysis Report
Release time:2025-06-04 Click:13
-Shen Zhen A&S POWER Technology Co.,Ltd
Market Size and Growth Trends
1. Overall Market Scale According to the latest industry data, China's lithium battery
shipments are expected to exceed 1,100 GWh in 2024, representing a year-on-year growth
of over 27%, marking the official entry into the "TWh Era". Globally, the lithium-ion battery market
reached 318.53 billion yuan in 2023 and is projected to grow to 896.357 billion yuan by 2029,
with a compound annual growth rate (CAGR) of 18.53%. As the world's largest producer and
consumer, China accounted for 73.8% of global lithium battery shipments in 2023, maintaining
a dominant position.
2. Driving Factors - **Penetration of New Energy Vehicles**: Global sales of electric vehicles
continue to rise, with significant market share growth in Europe. Combined with declining battery
costs (battery pack prices may drop below $50/kWh by 2030), this drives demand for power batteries.
- **Explosion of Energy Storage Technology**: Surging demand for renewable energy grid integration
led to lithium-ion batteries accounting for 97.4% of global energy storage in 2023. The energy storage
market is expected to exceed 4 TWh by 2030. - **Policy Support**: Countries are accelerating energy
transitions, with China, Europe, and others promoting industrial chain upgrades through subsidies
and technical standards.
Application Segment
Share Analysis Based on the latest industry forecasts and comprehensive data analysis, global
lithium-ion battery shipments are expected to reach **5.0-5.5 TWh** by 2030, representing a
more than threefold increase from 2023, with a CAGR of approximately 18%-22%. Key supporting
factors and segment contributions include:
1. Power Batteries (Dominant Growth)
- **Demand Drivers**: Increasing global penetration of new energy vehicles, projected to exceed
100 million units in 2030, combined with deepening electrification (e.g., hybrid and premium models),
will account for 60%-65% of power battery demand. - **China Market**: China's power battery shipments
account for over 60% of the global total. Domestic power lithium battery shipments may
exceed **2.6 TWh** by 2030 (GGII forecast), with accelerated overseas capacity landscape (e.g.,
Europe, Southeast Asia) further expanding growth.
2. Energy Storage Batteries (Rapid Growth) - **Data Center Energy Storage**: Surging global
computing power demand and green transformation of data centers drive energy storage needs.
Data center energy storage lithium battery shipments are projected to reach **300 GWh** by
2030 (GGII forecast), with a CAGR exceeding 80%. - **Grid and Commercial/Industrial Energy Storage**:
Driven by renewable energy grid integration, global energy storage installations may exceed **1 TWh**
by 2030, with China accounting for nearly 40%.
3. Emerging Segments (Potential Growth)
- **Embodied Intelligence Robots**: With 2-3 kWh per unit, global demand may exceed **100 GWh**
by 2030 (GGII forecast), with a CAGR exceeding 100%. - **Power Tools and Two-Wheelers**:
Steady growth in small lithium battery demand, with global shipments projected to reach **150-200 GWh** by 2030.
4. Technological Innovation and Cost Optimization - **Material Upgrades**: Silicon-based anodes,
lithium manganese iron phosphate (LMFP), and other technologies reduce costs and improve energy density.
- **Solid-State Batteries**: Global shipments may exceed **65 GWh** by 2030, driving high-energy density
applications (e.g., aviation, premium vehicles).
Technological Innovation and Market Impact
1. Core Technological Breakthroughs - **Material Upgrades**: Silicon-based anodes and LMFP enhance energy
density and reduce costs. - **Solid-State Batteries**: Expected to enter mass production by 2027, with global
shipments projected to exceed 65 GWh by 2030, driving demand for high-energy density applications.
- **Manufacturing Processes**: Large cylindrical batteries and full-tab technology optimize fast-charging
performance and production efficiency.
2. Market Landscape Transformation - **Chinese Enterprise Dominance**: Leading companies like CATL and
BYD hold over 37% of the global power battery market share, with Chinese firms accounting for over 80% of key
supply chain segments (cathodes, anodes, electrolytes). - **Accelerated Overseas Expansion**: Chinese companies are
avoided to trade barriers through technology licensing and local manufacturing (e.g., Hungary, U.S.), with overseas
capacity expected to exceed 30% by 2026.
3. Cost and Competitive Pressures - **Price Declines**: Falling
lithium prices and overcapacity will lead to bottoming battery material prices in 2024, approaching an industry
profit inflection point. - **Structural Consolidation**: Small and medium-sized enterprises face elimination,
while leading firms strengthen their positions through technological innovation (e.g., sodium-ion batteries)
and digital upgrades.
Challenges and Opportunities
1. Challenges - **Overcapacity**: The global lithium battery equipment market shrank by 28.8% in 2024,
putting cash flow pressure on some enterprises. - **Technological Iteration Risks**: Uncertain commercialization
timelines for technologies like solid-state batteries require balancing R&D investment and market demand.
2. Opportunities - **Emerging Market Demand**: Rising electric vehicle and energy storage markets in Southeast
Asia, India, and other regions provide growth opportunities. - **Green Transformation Dividends**: Improved waste
battery recycling systems (targeting over 90% recovery by 2030) will boost the circular economy.
Summary
Conclusion From 2024 to 2030, the lithium-ion battery market will continue to benefit from energy transitions and
technological innovation, with power batteries and energy storage serving as dual growth engines.
Chinese enterprises are poised to further consolidate their global leadership through full industrial chain advantages and
technological breakthroughs. However, the industry must address overcapacity and technological iteration risks while
pursuing sustainable development through differentiated competition and global presence.
Thank you for your kindly watching,welcome to discuss with our company-Shen Zhen A&S POWER Technology Co.,Ltd, a lithium battery manufacturer in China over 15 years with customer of Philips, Skullcandy, Mitel, Keytronic, Jabil etc.
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