Lithium battery market size for vehicles could grow by 2 times in 2030

According to the latest report, the growth of the EV (electric vehicle EV, plug-in hybrid electric vehicle PHV, gasoline hybrid electric vehicle HV) market, also drives the automotive lithium-ion battery market to expand simultaneously.

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The market scale of lithium-ion batteries will break through the 1,000GWh mark and will double compared to 2021, of which the EV market will account for nearly 90% of the overall market.

Recently, Japan’s Yano Economic Research Institute reported that the global automotive lithium-ion battery market is expected to reach 443GWh in 2022, an increase of 19.4% over 2021.

Among them, the market size of lithium-ion batteries for EVs is expected to increase by 18.9% to 397.3GWh (accounting for 89.7% of the overall market).

The Yano Economic Research Institute pointed out that the global automotive lithium-ion battery market is expected to exceed the 1,000GWh mark in 2030, and is expected to reach 1,163GWh, which will double (213% growth) compared to 2021.

Among them, the market size of lithium-ion batteries for EVs in 2030 is also expected to exceed 1,000GWh and is expected to reach 1,004.2GWh, which will increase by 201% compared with 2021, accounting for nearly 90% (86%) of the overall proportion.