China will remain among the fastest growing in this cluster of regional markets. These regional markets accounting for a combined market size of US$3.3 Billion in the year 2020 will reach a projected size of US$4.3 Billion by the close of the analysis period. In the global Lithium Cobalt Oxide (LCO) segment, USA, Canada, Japan, China and Europe will drive the 3.9% CAGR estimated for this segment. Lithium Cobalt Oxide (LCO) Segment Corners a 11.6% Share in 2020 Within Europe, Germany is forecast to grow at approximately 12.3% CAGR while Rest of European market (as defined in the study) will reach US$19.1 Billion by the year 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.2% and 12% respectively over the 2020-2027 period. China, the world second largest economy, is forecast to reach an estimated market size of US$19.1 Billion in the year 2027 trailing a CAGR of 16.5% through 2027.
The country currently accounts for a 15.12% share in the global market. is estimated at US$5.8 Billion in the year 2020. The Lithium-Ion (Li-ion) Batteries market in the U.S. Accounts for Over 15.1% of Global Market Size in 2020, While China is Forecast to Grow at a 16.5% CAGR for the Period of 2020-2027 This segment currently accounts for a 26.6% share of the global Lithium-Ion (Li-ion) Batteries market. Amid the COVID-19 crisis, the global market for Lithium-Ion (Li-ion) Batteries estimated at US$38.6 Billion in the year 2020, is projected to reach a revised size of US$92.3 Billion by 2027, growing at a CAGR of 13.3% over the analysis period 2020-2027.Lithium Nickel Manganese Cobalt (NMC), one of the segments analyzed in the report, is projected to grow at a 16% CAGR to reach US$46.4 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lithium Iron Phosphate (lfp) segment is readjusted to a revised 11.5% CAGR for the next 7-year period. Complimentary updates for one yearGlobal Lithium-Ion (Li-ion) Batteries Market to Reach US$92.3 Billion by the Year 2027
Access to our digital archives and MarketGlass Research Platform Online interactive peer-to-peer collaborative bespoke updates New York, (GLOBE NEWSWIRE) - announces the release of the report "Global Lithium-Ion (Li-ion) Batteries Industry". Market presence across multiple geographies - Strong/Active/Niche/Trivial. Abstract: What’s New for 2022? - Global competitiveness and key competitor percentage market shares.