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Lithium-Ion Battery Market to Grow by USD 448.8 Billion (2024-2028) as Consumer Electronics Drive Demand, Report with AI Impact on Market Trends – Technavio

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NEW YORK, Nov. 27, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global lithium-ion battery market  size is estimated to grow by USD 448.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  42.93%  during the forecast period. Augmented demand from consumer electronics is driving market growth, with a trend towards legislative support for battery recycling. However, growing popularity of fuel cell solutions  poses a challenge.Key market players include A123 Systems LLC, AT and T Inc., BYD Co. Ltd., CLARIOS LLC, Envision Energy USA Ltd., Exide Industries Ltd., GS Yuasa International Ltd., Hitachi Ltd., Johnson Controls International Plc., LG Chem Ltd., Manz AG, Panasonic Holdings Corp., Samsung SDI Co. Ltd., Shenzhen Bak Battery Co. Ltd., SK Inc., Sony Group Corp., TDK Corp., Tesla Inc., TianJin Lishen Battery Joint Stock Co. Ltd., and Toshiba Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Lithium nickel manganese cobalt, Lithium titanate, Lithium iron phosphate, and Lithium cobalt oxide), Application (Automotive, Consumer electronics, and Energy storage and others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

A123 Systems LLC, AT and T Inc., BYD Co. Ltd., CLARIOS LLC, Envision Energy USA Ltd., Exide Industries Ltd., GS Yuasa International Ltd., Hitachi Ltd., Johnson Controls International Plc., LG Chem Ltd., Manz AG, Panasonic Holdings Corp., Samsung SDI Co. Ltd., Shenzhen Bak Battery Co. Ltd., SK Inc., Sony Group Corp., TDK Corp., Tesla Inc., TianJin Lishen Battery Joint Stock Co. Ltd., and Toshiba Corp.

Key Market Trends Fueling Growth

The Lithium-ion battery market is experiencing significant growth, driven by the rise of electric vehicles (EVs) in the automobile sector and the increasing demand for rechargeable batteries in consumer electronics and renewable energy. Key components of Lithium-ion batteries include the anode (often made of graphite), cathode (typically Lithium Cobalt Oxide or Lithium Titanate), and electrolyte solution. Major market players are focusing on strategic collaborations, mergers, and innovation to meet the surging demand. EV sales are fueling the market, with lithium-ion batteries being the preferred choice due to their high energy density, long life cycle, and memory effect. The EV industry’s reliance on lithium-ion batteries is expected to continue, with solid-state batteries and lithium-air flow batteries being potential future competitors. In the consumer electronics sector, lithium-ion batteries power small-sized electronic devices such as laptops and mobile phones, thanks to their high conductivity and energy efficiency. The aerospace, medical, marine, industrial, and telecommunications industries also rely on these batteries for reliable power sources. The lithium supply chain faces disruptions due to the increasing demand for lithium-ion batteries, making it crucial for companies to secure their supply of lithium insertion materials like graphite and LiCoO2. The fundamental operation of lithium-ion batteries involves the combination of the anode and cathode during charging and discharging, with the selective membrane preventing unwanted reactions. Lithium-ion batteries offer features like power density, long life cycle, and energy efficiency, making them a popular choice for various applications. However, they require an integrated protection circuit for charging and discharging, and proper management to ensure reliable performance and minimize aging. Competition in the market includes lead-acid batteries, nickel-metal hydride batteries, and nickel-cadmium batteries. As the market evolves, companies must stay ahead by focusing on expertise, innovation, and delivering reliable battery solutions to meet the growing demand. 

The global shift towards sustainable transportation has gained momentum due to growing concerns over environmental issues and increasing greenhouse gas emissions. In response, numerous governments have set targets and introduced directives to phase out diesel and petrol vehicles and promote the adoption of electric vehicles (EVs) instead. Notable examples include France, the UK, and the Netherlands, which plan to ban the sale of diesel vehicles by 2040, 2040, and 2030, respectively. China is also taking action by offering subsidies for EVs and restricting new ownership of diesel and petrol cars. These initiatives are expected to significantly boost the demand for lithium-ion batteries, a key component of EVs, in the automotive industry. 

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Market Challenges

•         The Lithium-ion battery market is experiencing significant growth due to the increasing demand for electric vehicles (EVs) in the automobile sector and consumer electronics. However, challenges persist, including supply chain disruptions related to the EV industry’s reliance on raw materials like Lithium and Cobalt. Major market players are collaborating, merging, and exploring alternative technologies like lithium-air flow batteries, solid-state batteries, and Lithium Titanate to mitigate these challenges. Anodes and cathodes, key components of Lithium-ion batteries, utilize various materials such as graphite, LiCoO2, and lithium insertion materials. The fundamental operation of these batteries involves an electrolyte solution and a selective membrane. Features like power density, life cycle, energy efficiency, and rechargeability make Lithium-ion batteries popular power sources for small-sized electronic devices, electric vehicles, renewable energy sector applications, and industries like aerospace, medical, marine, industrial, and telecommunications. Despite their advantages, challenges such as memory effect, aging, and maintenance requirements necessitate expertise in management and reliable power supply solutions. Alternatives like lead-acid, nickel-metal hydride, and nickel-cadmium batteries also compete in the commercial market, offering different features and requirements for various applications.

•         Lithium-ion batteries have been widely used in various industries, including automotive and material handling equipment. However, end-users face challenges with the frequent replacement or charging of these batteries, particularly in operations that run for multiple shifts. For instance, forklifts in warehouses require batteries that can last longer to avoid disruptions in logistics management. Traditional batteries, such as lead-acid and lithium-ion, have limited energy capacity and long recharging periods, necessitating frequent replacements every 2-3 years. To address these issues, more end-users are adopting fuel cell systems, which offer longer operational hours and require less frequent replacement or charging. This shift towards fuel cells is expected to impact the demand for lithium-ion batteries in these industries.

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Segment Overview 

This lithium-ion battery market report extensively covers market segmentation by

Type 1.1 Lithium nickel manganese cobalt1.2 Lithium titanate1.3 Lithium iron phosphate1.4 Lithium cobalt oxideApplication 2.1 Automotive2.2 Consumer electronics2.3 Energy storage and othersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Lithium nickel manganese cobalt-  Lithium-ion batteries with nickel, manganese, and cobalt compositions have gained significant market share due to their unique properties. Nickel and manganese combine to create spinel structures, reducing internal resistance, while nickel’s large specific energy ensures stability. These batteries cater to various applications, including power tools, e-bikes, electric drivetrains, laptops, mobile phones, portable gadgets, electric vehicles, and battery storage power plants. The lithium nickel manganese cobalt segment dominated the global lithium-ion battery market in 2023 and is projected to maintain its position throughout the forecast period.

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Research Analysis

The Lithium-ion battery market is experiencing significant growth due to the increasing demand for electric vehicles (EVs) in the automobile sector and the expanding use of electric power sources in consumer electronics and renewable energy. Lithium and cobalt are key elements in the production of these batteries, with lithium providing high energy density and cobalt enhancing conductivity. The market for lithium-ion batteries is diverse, serving the EV industry, power tools, small-sized electronic devices, and renewable energy storage. The fundamental operation of lithium-ion batteries involves the combination of lithium insertion materials, such as graphite and LiCoO2, during charging and discharging. The market is subject to supply chain disruptions due to the limited availability of raw materials and geopolitical tensions. Strategic collaborations, mergers, and innovation in materials, such as graphite-based lithium-ion batteries, are driving market growth. Lithium-ion batteries are the power sources of choice for various applications, from electric vehicles to laptops, mobile phones, and renewable energy storage systems. Their high energy density, long cycle life, and rechargeability make them an essential component of the modern world’s power infrastructure.

Market Research Overview

The Lithium-ion battery market is a significant segment of the energy storage industry, primarily driven by the growing demand for electric vehicles (EVs) in the automobile sector and the increasing adoption of renewable energy in various industries. Lithium-ion batteries are preferred due to their high energy density, long cycle life, and superior power density compared to traditional lead-acid, nickel-metal hydride, and nickel-cadmium batteries. The market is also fueled by the increasing sales of electric vehicles and the expanding use of lithium-ion batteries in consumer electronics. The lithium-ion battery market consists of several types, including lithium-air flow batteries, solid-state batteries, and graphite-based lithium-ion batteries. The fundamental operation of a lithium-ion battery involves the movement of lithium ions between the anode and cathode through an electrolyte solution and a selective membrane. Lithium-ion batteries are used in various applications, including electric vehicles, power tools, small-sized electronic devices, aerospace, medical, marine, industrial, telecommunications, and more. The market is subject to supply chain disruptions due to the reliance on key raw materials like lithium and cobalt. However, strategic collaborations, mergers, and advancements in technology, such as lithium titanate and solid-state batteries, are expected to mitigate these challenges. Lithium-ion batteries offer several features, including high energy efficiency, long life cycle, and low memory effect. They are rechargeable and require minimal maintenance, making them a reliable power source for various applications. The market is expected to grow significantly in the coming years, driven by the increasing demand for clean energy and the growing popularity of electric vehicles.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeLithium Nickel Manganese CobaltLithium TitanateLithium Iron PhosphateLithium Cobalt OxideApplicationAutomotiveConsumer ElectronicsEnergy Storage And OthersGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Smarter Cars, Robots and Disease Prevention: WSTDF Examines How Future Industries Take Shape

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October 22, 2026

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CHONGQING, China, Oct. 22, 2026 /PRNewswire/ — A news report from iChongqing.

The 2026 World Science and Technology Development Forum opened in Chongqing on October 21, bringing together around 800 participants, including experts and scholars, to explore how automotive technology, robotics and other advances could shape future industries.

Wang Guangqian, President of the China Association for Science and Technology, called for technological breakthroughs, closer integration of technological and industrial innovation, greener development and stronger technology governance. He emphasized that future industries connect science and technology with the economy.

Li Junhua, UN Under-Secretary-General for Economic and Social Affairs, described engineering as a bridge between scientific discovery and industrial practice. He stressed that achieving the UN’s 2030 Sustainable Development Goals requires stronger international scientific cooperation and participation by all countries and communities.

Zhu Huarong, Chairman of China Changan Automobile Group, said cars were evolving from transportation tools into “self-evolving intelligent car robots.” The automotive industry is increasingly integrating AI, chips, communications and big data, with applications extending into energy and urban governance. In Chongqing, vehicle-road-cloud data integration supports traffic management, while vehicle-to-grid interaction and integrated energy systems could turn vehicles into mobile nodes in green energy networks.

David Lopez Perez, Professor at Universitat Politècnica de Valencia, Spain, outlined applications ranging from urban drones and industrial inspection robots to humanoid assistants for older adults. Robots must reason, plan and coordinate, supported by digital twins, intelligent systems and future 6G networks. Interoperability and standardization remain essential.

Nils Stenseth, Member of Academia Europaea and Professor at the University of Oslo, described using air travel data to build a digital twin model exploring how to prevent local epidemics from becoming global pandemics. He highlighted multisource data, digital technologies and a strong global surveillance network as tools for addressing emerging pathogens.

Together, these examples underscored the importance of interdisciplinary, cross-sectoral and international cooperation in translating advanced technologies into practical solutions.

The opening ceremony also released the Top 10 Science and Technology Foresights of 2026, covering areas including AI, brain-computer interfaces and space resource development, alongside an intelligent sensing industry map and other outcomes.

Held in Chongqing for the first time since its launch in 2019, the forum ran through October 23, featuring 12 parallel forums on intelligent sensing, AI-powered simulation, embodied intelligence, smart manufacturing, green energy and new-energy vehicles, among other fields.

For more information about the 2026 WSTDF, click here.

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SOURCE iChongqing

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Distribution Utility Meet (DUM 2026) to Bring Together India’s 40+ Power Distribution Utilities in Jaipur on 27-28 October 2026

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October 22, 2026

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10th Edition of the Annual Conference and Exhibition of Power Distribution Utilities for Collaborative Growth | 27–28 October 2026 | Jaipur

NEW DELHI, Oct. 22, 2026 /PRNewswire/ — India Smart Grid Forum (ISGF) will organize the 10th edition of the Distribution Utility Meet (DUM 2026), India’s flagship annual conference and exhibition for the power distribution sector, on 27–28 October 2026 at Jaipur, Rajasthan. The milestone edition is being held in partnership with all three Rajasthan DISCOMs, Jaipur Vidyut Vitran Nigam Limited (JVVNL), Jodhpur Vidyut Vitran Nigam Limited (JdVVNL) and Ajmer Vidyut Vitran Nigam Limited (AVVNL) as Host Utilities. DUM 2026 is supported by the Ministry of Power, NITI Aayog, Energy Department of Rajasthan Government, Central Electricity Authority (CEA) and All India DISCOMs Association (AIDA). Power Foundation of India (PFI) is the Knowledge Partner, Rajasthan Renewable Energy Corporation Limited (RRECL) is the RE Partner and Pelocal is the Powered by Partner.

Since its first edition in Bengaluru in 2017, DUM has been held in Mumbai, New Delhi, Bhubaneswar, Kochi, and Lucknow, with two digital editions in 2020 and 2021. The 9th edition in Mumbai in November 2025 drew over 600 participants, including senior officers from 45 DISCOMs. The 10th edition comes to Rajasthan, one of India’s leading renewable energy states, making Jaipur a fitting venue for discussions on integrating renewables, storage and new large loads into distribution grid. DUM 2026 is expected to bring together over 500 participants, including senior officials from 40+ DISCOMs across India and 100+ speakers, including senior utility leaders, regulators, policymakers, researchers and technology providers.

Honorable Chief Minister of Rajasthan, Shri Bhajan Lal Sharma is expected to inaugurate DUM 2026 along with Honorable Minister of State for Energy, Shri Heera Lal Nagar on 27th October 2026 at The Lalit, Jaipur. 

Announcing the event, Shri Reji Kumar Pillai, President, ISGF, said: “DUM has grown over ten editions into the one platform where India’s DISCOM leaders assemble together and learn from each other’s successes. As distribution utilities move from turnaround to transformation, with smart meters, distributed renewables, storage and new large loads such as AI data centres and EVs, that peer learning matters more than ever. We are delighted to bring the 10th edition to Rajasthan with all three state DISCOMs as host utilities.”

BSES Rajdhani Power Limited, BSES Yamuna Power Limited, Tata Power Delhi Distribution Limited, The Tata Power Company Limited, Noida Power Company Limited and Chandigarh Power Distribution Limited join DUM 2026 as Co-Host Utilities. Oracle, Enspar and The Energy and Resources Institute (TERI) are the Thematic Session Partners, Indian Energy Exchange (IEX) is the Exchange Partner and Wirepas is the Delegate Bag Partner. WorkOnGrid, Eaton, Reformtech Co., Ltd., REConnect Energy, Radius Synergies Pvt. Ltd. and Stelmec Limited joined as Technology Innovation Partners. Power Foundation of India (PFI) is the Knowledge Partner, RRECL is the RE Partner and Pelocal is the Powered by Partner.

The DUM 2026 exhibition will showcase technologies and solutions for the distribution sector. The exhibitors include Power Foundation of India, JVVNL, The Tata Power Company Limited, Tata Power Delhi Distribution Limited, Brodersen Systems Pvt. Ltd., Taurus Powertronics, BENTEC, REConnect Energy, Oracle, Yitran Technologies, WorkOnGrid, Eaton, Reformtech Co., Ltd., RMC India, Enspar Sustainability Pvt. Ltd., Kimbal, Madhav Engineers Pvt. Ltd., Elektrolites, Phoenix Contact, Radius Synergies Pvt. Ltd., Stelmec Limited, Deliverain Research & Solutions, Future Grid, SM Systems, RRECL, Pelocal, and Chandigarh Power Distribution Limited.

Over two days, DUM 2026 will hold seven thematic sessions on the most pressing challenges and opportunities for DISCOMs:

DISCOMs Financial Transformation and Capital Market ReadinessScaling Digital Intelligence and Advanced Smart Meter Data AnalyticsRole of RE in Managing New and Emerging Loads and Ensuring Supply Reliability and Power QualityFlexibility Solutions for Distribution Networks and CEA Standards for Solar PV and BESSClimate Resilience and Securing the Physical Assets of DISCOMsIndia Energy Stack (IES), Data Exchange Framework, Cyber Security and Data Privacy for the Digital GridsBESS Applications in Power Distribution – Select Case Studies

Discussions will cover capital market instruments such as green and sustainability-linked bonds for DISCOMs, moving smart meter analytics from pilots to population scale, grid readiness for AI data centres and EV charging, grid-forming inverters for BESS, demand flexibility and time-of-day tariffs, climate-resilient network design, and DISCOM readiness for the India Energy Stack and the CEA (Cyber Security in Power Sector) Regulations, 2026.

DUM is a closed-door forum for power distribution utilities, with participation by invitation for DISCOMs, government and regulatory representatives. The meet provides a unique platform for knowledge exchange and collaboration among the DISCOM community, technology providers and policymakers. DUM 2026 reaffirms India’s commitment to grid modernization, digitalization and the transition toward a Net Zero power sector, and to the principle that utilities grow stronger by learning from each other’s experiences.

For more information, visit www.dumindia.in

About India Smart Grid Forum (ISGF): India Smart Grid Forum (ISGF) is a Think-Tank of global repute on Smart Energy, Electric Mobility and Smart Cities. ISGF, established as a Public Private Partnership initiative of Government of India in 2011, is spearheading the mission to accelerate electric grid modernization and energy transition in India. ISGF is registered as a Not-for-Profit Society under Indian Societies Act. The main objectives of ISGF are to conduct research and studies on evolving technologies related to clean energy, energy efficiency, electric mobility, energy transition and electric grid modernization relevant in the Indian context through case studies, pilot demonstrations, cost- benefit analysis and other ancillary activities. ISGF also brings together experts from policy, regulation, academia, and industry to formulate and support enabling policies, standards, and regulations. ISGF’s multidisciplinary team works closely with policymakers, regulators, utilities, academia, and industry leaders to shape enabling frameworks and standards. Website: www.indiasmartgrid.org 

About Distribution Utility Meet (DUM): DUM is ISGF’s annual conference and exhibition for India’s power distribution utilities. It brings together senior DISCOM leaders, the Ministry of Power, MNRE, CERC and SERCs, state energy departments, international utility experts, research institutions and industry to share experience, evaluate new technologies and business models, address the challenges of managing millions of distributed energy resources, and propose regulatory and policy interventions for DISCOM sustainability. Website: www.dumindia.in

 

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TIER IV and Technical University of Munich Bring NVIDIA Hyperion to Level 4 Autonomous Driving in Germany

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October 22, 2026

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Announced at NVIDIA GTC Berlin, the initiative builds on the TUM Autoware Research Center by TIER IV and integrates NVIDIA Hyperion and Halos safety system to accelerate next-generation autonomous mobility

TOKYO, Oct. 21, 2026 /PRNewswire/ — TIER IV, the pioneering force behind Autoware, the world’s leading open-source software for autonomous driving, and the Technical University of Munich (TUM) today announced an expanded collaboration centered on NVIDIA Hyperion and NVIDIA Halos safety system to scale safe, high-performance autonomous driving systems across Germany.

NVIDIA Hyperion is a reference sensor and compute platform for Level 4 autonomous vehicles and robotaxis. It combines NVIDIA DRIVE AGX Thor accelerated computing with the NVIDIA Halos safety system to accelerate safe, production-ready autonomy.

Building upon the recent establishment of the TUM Autoware Research Center by TIER IV, the initiative will integrate NVIDIA Hyperion, including high-performance dual-DRIVE AGX Thor configurations into Autoware-based autonomous vehicle projects across Germany.

By bringing together NVIDIA’s automotive-grade compute and safety technologies, Autoware’s open-source software and TUM’s automotive research expertise, the initiative will provide researchers and developers with a powerful environment for building, testing and validating next-generation autonomous driving systems.

The work will focus on translating advanced research into safe, scalable real-world deployments, including autonomous public transportation and robotaxi applications.

“To transition autonomous mobility from academic research to trusted, real-world deployment, leveraging cutting-edge hardware such as NVIDIA Hyperion alongside leading open-source platforms like Autoware is essential. This partnership allows us to rigorously test autonomous vehicle systems on German roads, ensuring public transit solutions are built on transparent, verifiably safe, and collaborative technology rather than restrictive proprietary systems,” said Prof. Markus Lienkamp, Technical University of Munich.

“Building on years of joint work on Autoware between TUM and TIER IV, integrating advanced platforms like NVIDIA Hyperion lets us push real-time vehicle control and software architecture to a whole new level,” added Prof. Johannes Betz.

Shinpei Kato, founder and CEO of TIER IV, commented, “Scaling safe autonomous driving globally requires moving beyond closed, black box systems toward open, interoperable architectures. TUM is an exceptional partner for advancing cutting-edge research, and NVIDIA Hyperion, together with NVIDIA’s leadership in high-performance compute and commitment to open-source software ecosystems, provides the solid foundation needed to accelerate scalable, publicly trusted autonomous transit in Germany and beyond.”

“NVIDIA Hyperion provides the reference sensor and compute architecture needed to develop Level 4 autonomous vehicles and robotaxis at scale,” said Rishi Dhall, vice president of automotive at NVIDIA. “Together with TIER IV and TUM, we are combining NVIDIA DRIVE AGX Thor and the NVIDIA Halos safety system with an open-source autonomous driving platform to accelerate safe, production-ready autonomy.”

*Autoware is a registered trademark of the Autoware Foundation.

Media Contact: pr@tier4.jp

 

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SOURCE TIER IV, Inc.

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