Lithium Ion battery Market is estimated to be US$ 115.6 billion by 2030

Manju Gupta16 Aug, 2022News

Unlike non-rechargeable lithium batteries, which employ metallic lithium, Lithium ion batteries use an intercalated lithium compound as one of the electrode materials. Because of their great energy density, little memory effect, and minimal self-discharge, lithium ion batteries are the driving force behind the digital electronic revolution. Increasing demand for smartphones and other electronics products, as well as an increase in the number of electric vehicles, are some of the key factors boosting the growth of the global lithium-ion battery market. Additionally, it is projected that tough government regulations to lower rising pollution levels will boost market expansion. But market growth is anticipated to be constrained by lithium-ion batteries? high price.