During the five-year projection period, the battery market would see increased spending at a promising CAGR.
During the five-year projection period, the battery market would see increased spending at a promising CAGR.
The market for lithium-ion batteries is anticipated to reach USD 135.1 billion by 2031,
The market for lithium-ion batteries is anticipated to reach USD 135.1 billion by 2031,
at a projected CAGR of 13.1%,
at a projected CAGR of 13.1%,
from an estimated USD 44.5 billion in 2022.
from an estimated USD 44.5 billion in 2022.
The market for lithium-ion batteries is expanding as a result of the increased
The market for lithium-ion batteries is expanding as a result of the increased
use of these batteries in plug-in automobiles in the field of renewable energy.
use of these batteries in plug-in automobiles in the field of renewable energy.
In addition, improvements in lithium-ion batteries
In addition, improvements in lithium-ion batteries
have raised the emphasis on R & D.
have raised the emphasis on R & D.
Rising acceptance of lithium-ion batteries in a variety of new applications
Rising acceptance of lithium-ion batteries in a variety of new applications
due to price declines is also anticipated to fuel market expansion in the near future.
due to price declines is also anticipated to fuel market expansion in the near future.