Global Lithium-Ion Battery Market 2020–2024 | Evolving Opportunities with A123 Systems LLC and Amperex Technology Ltd. | Technavio


The global lithium-ion battery market is poised to grow by USD 47.81 billion during 2020-2024, progressing at a CAGR of over 16% during the forecast period

The increased shipments of smart wearables drive the market. Also, the decline in lithium-ion battery prices is anticipated to boost the growth of the lithium-ion battery market.
A screenshot of a cell phone Description automatically generated
Many smart wearable manufacturers are adding features pertaining to health and wellness in their smart glasses, smart bands, and smartwatches. They are also adding functionalities related to security and payments in their wearable devices. Also, the cost of these devices has been declining over the years. These factors are propelling the purchase volume of these devices in both developing and developed countries. Consequently, the adoption of lithium-ion battery is increasing because they are extensively used in smart wearables as the power source. Thus, the increased shipment of smart wearables is expected to drive market growth during the forecast period.
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Major Five Lithium-Ion Battery Market Companies:
A123 Systems LLC
A123 Systems LLC operates the business under various segments such as Systems, Modules, and Cells. The company offers Lithium-ion 48V Battery and Lithium-ion 12V Starter Battery. The company also provides battery systems such as 48V battery and 12V Starter Battery and battery modules such as 22S3P Module and PHEV2 Module.
Amperex Technology Ltd.
Amperex Technology Ltd. offers products through the following business units: A High Energy Density, High Power, Fast-Charging, Battery Pack, High Energy Density, High Power, Fast-Charging, Battery Pack, High Energy Density, and High Power. The company offers Lithium-ion battery, 1762A5V Lithium-ion battery, 333996V Lithium-ion battery, and others.
BYD Co. Ltd.
BYD Co. Ltd. operates under various business segments, namely Automobiles and related products, Mobile handset components and assembly service, and Rechargeable batteries and photo-voltaic business. The company offers lithium-ion batteries based on lithium iron phosphate.
Dalian CBAK Power Battery Co. Ltd.
Dalian CBAK Power Battery Co. Ltd. offers lithium-ion batteries for uninterruptible power supply, light electric vehicles, and electric vehicles. The company also provides high-power lithium batteries.
Envision Energy USA Ltd.
Envision Energy USA Ltd. offers products through the following business segments: Energy and Digital. The company offers Envision's Energy IoT Operating System, which is an Energy IoT Operating System. The company also provides lithium-ion batteries such as Gen5-811, Gen4-523, and others.

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