The usage of Li-ion batteries in electric vehicles is expanding the market. Also, the increased popularity of electric vehicles as a result of growing environmental concerns is anticipated to support the market expansion of lithium-ion batteries. The International Energy Agency estimates that 2.1 million electric vehicles will be sold globally in 2019. The sales of electric vehicles, which made up 2.6% of all new automobiles sold globally and 1% of all cars on the road in 2019, increased by 40% from the previous year. The consumer electronics industry is expanding quickly in developing nations, which is boosting demand for Li-ion batteries.
The global Lithium-Ion Battery Market is estimated to be valued at US$ 46.5billion in 2021 and is expected to exhibit a CAGR of 17.0%over the forecast period (2021-2028).
Top Companies in the Lithium-Ion Battery Industry:
1. Sony, LLC
Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets. Sony Group Corporation was incorporated in 1946 and is headquartered in Tokyo, Japan.
2. GS Yuasa Corporation
GS Yuasa Corporation engages in the manufacture and sale of batteries, power supplies, lighting equipment, and other battery and electrical equipment. GS Yuasa Corporation was incorporated in 2004 and is headquartered in Kyoto, Japan. In November, 2022 GS Yuasa Corporation announced that it started undertaking joint research with Osaka Metropolitan University regarding the research and development of all-solid-state batteries, a technology proposal that was selected for the NEDO Green Innovation Fund.
3. Johnson Controls Inc.
Johnson Controls International plc was incorporated in 1885 and is headquartered in Cork, Ireland. Johnson Controls International plc, together with its subsidiaries, engages in engineering, manufacturing, commissioning, and retrofitting building products and systems