Global Lithium-Ion Battery Market Expected To Exceed $60B By 2024

By Battery Power Staff

January 16, 2019 | Global Market Insights released a report Monday estimating that the lithium-ion battery global market size will exceed $60 billion by 2024.

The report tracks various li-ion chemistries, touting the batteries for their “better capacity, longer lifecycle, and improved efficiency when compared to available alternatives.”

Bloomberg New Energy Finance (BNEF) raised its forecast for lithium-ion batteries last November, due to prices declining faster than expected. BNEF estimates $61 billion will be invested in lithium-ion between 2017 and 2024, Logan Goldie-Scot, head of energy storage at BNEF, told Utility Dive.