Lithium ion Battery Pack Market Report 2025 (Global Edition)

Global Lithium ion Battery Pack Market Report 2025 Market Size Split by Product Type (Lithium Nickel Cobalt Aluminium Oxide, Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Nickel Manganese Coba...

Lithium ion Battery Pack Market Report Description

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Lithium ion Battery Pack Market Insights Video

Competitive Landscape of the Lithium Ion Battery Pack Market

The competitive landscape of the lithium-ion battery pack market is characterized by intense rivalry among key players striving for market share. Companies compete on factors such as product innovation, pricing strategies, manufacturing capabilities, and partnerships to gain a competitive edge in this rapidly evolving industry.

In December 2022, Panasonic Corp. and Lucid Group Inc., announced multi-year agreements to supply batteries for Lucid's acclaimed luxury electric vehicles, including the Lucid Air and the upcoming Gravity SUV. These agreements signify Panasonic's expansion of lithium-ion EV battery production beyond Japan and into the U.S. Production is expected to occur at facilities in both Japan and the newly announced battery production facility in De Soto, Kansas.

(Source: https://news.panasonic.com/uploads/tmg_block_page_image/file/13574/en221213-4-1.pdf)  

Top Companies Market Share in Lithium ion Battery Pack Industry: (In no particular order of Rank)

• BYD Co. Ltd.
• A123 Systems LLC
• Hitachi Ltd.
• Johnson Controls
• LG Chem
• Panasonic Corp.
• Saft
• Samsung SDI Co. Ltd.
• Toshiba Corp.
• GS Yuasa International Ltd.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, the North America Lithium Ion Battery Pack Market share was 40% of the total market

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. Robust demand for electric vehicles (EVs) and renewable energy solutions drives significant sales of lithium-ion battery packs. The supportive government policies and incentives promote the adoption of clean energy technologies, further boosting market growth. Additionally, technological advancements and investments in research and development contribute to the region's leadership in the lithium-ion battery pack market. Moreover, increasing consumer awareness of environmental sustainability and energy efficiency encourages widespread adoption, solidifying North America's position as a key player in the global market.

Asia-Pacific is the fastest-growing region. The region is a manufacturing hub for consumer electronics and electric vehicles, driving substantial demand for battery packs. The favourable government initiatives and investments in infrastructure support the adoption of electric vehicles and renewable energy solutions. Additionally, the presence of leading battery manufacturers and ongoing advancements in battery technology contribute to market growth. Moreover, rising urbanization and increasing disposable incomes in emerging economies fuel the demand for portable electronic devices, further propelling the sales of lithium-ion battery packs in the Asia-Pacific region.

The current report Scope analyzes Lithium ion Battery Pack Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Lithium ion Battery Pack

According to Cognitive Market Research, the global lithium ion battery pack market size was estimated at USD 63351.2 Million out of which North America held the major market of around 40% of the global revenue with a market size of USD 25340.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.0% from 2024 to 2031. The favourable government policies and incentives encourage the adoption of clean energy technologies, bolstering market expansion. Additionally, the region's robust manufacturing base and technological expertise contribute to advancements in battery technology, enhancing product performance and affordability. Moreover, the increasing adoption of energy storage solutions for grid stabilization and backup power systems further boosts the demand for lithium-ion battery packs in North America. The prominence of automotive applications in this region ensures that the sales of lithium cobalt oxide, with its high energy density, will continue to grow steadily, consolidating its position as the dominant segment in North America.

• According to Cognitive Market Research, the US had a major share in the lithium ion battery pack market with a market size of USD 19993.64 million in 2024 and is projected to grow at a CAGR of 1.8% during the forecast period. In the U.S., the sales of lithium-ion battery packs will increase due to the rising demand for electric vehicles (EVs), government incentives promoting clean energy, and investments in renewable energy infrastructure.
• The Canada lithium ion battery pack market had a market share of USD 3040.86 million in 2024 and is projected to grow at a CAGR of 2.8% during the forecast period. In Canada, the sales of lithium-ion battery packs will increase driven by government initiatives supporting EV adoption, the growth of renewable energy projects, and the need for grid stabilization solutions.
• The Mexico lithium ion battery pack market is projected to witness growth at a CAGR of 2.5% during the forecast period with a market size of USD 2305.98 million in 2024.

Europe Lithium ion Battery Pack

According to Cognitive Market Research, with a market value of USD 63351.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 2.3% from 2024 to 2031. Europe accounted for a share of around 30% of the global market size of USD 19005.36 million. The supportive government policies and incentives, including subsidies and tax benefits, incentivize consumers and businesses to adopt clean energy technologies, further accelerating market growth. Additionally, the region's robust infrastructure and investment in renewable energy infrastructure create a conducive environment for the deployment of energy storage solutions, driving demand for lithium-ion battery packs. Moreover, advancements in battery technology and manufacturing processes ensure the competitiveness of European manufacturers in the global market. In Europe, the automotive segment holds a prominent market share, with lithium iron phosphate batteries witnessing rapid adoption due to their safety features and suitability for EV applications.

• The United Kingdom lithium ion battery pack market had a market share of USD 3192.90 million in 2024 and is projected to grow at a CAGR of 3.1% during the forecast period. In the UK, the sales of lithium-ion battery packs will increase owing to stringent emissions regulations, government incentives for EVs, and investments in renewable energy storage systems and grid modernization projects.
• The France lithium ion battery pack market is projected to witness growth at a CAGR of 1.5% during the forecast period with a market size of USD 1748.49 million in 2024.
• According to Cognitive Market Research, the Germany lithium ion battery pack market size was valued at USD 3763.06 million in 2024 and is projected to grow at a CAGR of 2.5% during the forecast period. In Germany, the sales of lithium-ion battery packs will increase due to the country's ambitious energy transition goals, strong automotive industry demand for EVs, and investments in renewable energy infrastructure.
• The Italy lithium ion battery pack market is projected to witness growth at a CAGR of 1.7% during the forecast period with a market size of USD 1634.46 million in 2024.
• The Russia lithium ion battery pack market is projected to witness growth at a CAGR of 1.3% during the forecast period with a market size of USD 2945.83 million in 2024.
• The Spain lithium ion battery pack market is projected to witness growth at a CAGR of 1.4% during the forecast period with a market size of USD 1558.44 million in 2024.
• The Luxembourg lithium ion battery pack market is projected to witness growth at a CAGR of 2.4% during the forecast period with a market size of USD 589.17 million in 2024.
• The Portugal lithium ion battery pack market is projected to witness growth at a CAGR of 2.1% during the forecast period with a market size of USD 399.11 million in 2024.
• The Greece lithium ion battery pack market is projected to witness growth at a CAGR of 2.6% during the forecast period with a market size of USD 228.06 million in 2024.
• Rest of Europe lithium ion battery pack market is projected to witness growth at a CAGR of 1.0% during the forecast period with a market size of USD 2945.83 million in 2024.

Asia Pacific Lithium ion Battery Pack

According to Cognitive Market Research, the global lithium ion battery pack market size was estimated at USD 63351.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 14570.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031. The government initiatives and investments in renewable energy infrastructure stimulate the adoption of clean energy technologies, including energy storage solutions, further propelling market growth. Additionally, the presence of key manufacturing hubs and a skilled workforce ensures cost-effective production of lithium-ion battery packs, enhancing market competitiveness. Moreover, technological advancements and innovation in battery chemistry and design contribute to product differentiation and performance improvement. In Asia Pacific, the fastest-growing segment is prismatic batteries, driven by their compact design and suitability for EV applications.

• According to Cognitive Market Research, the China lithium ion battery pack market size was valued at USD 6556.85 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. In China, the sales of lithium-ion battery packs will increase driven by government mandates for EV adoption, investments in renewable energy, and the country's leading position in manufacturing and innovation in battery technology.
• The Japan lithium ion battery pack market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 2010.77 million in 2024.
• The India lithium ion battery pack market had a market share of USD 1748.49 million in 2024 and is projected to grow at a CAGR of 7.6% during the forecast period. In India, the sales of lithium-ion battery packs will increase due to the government's push for electric mobility, investments in renewable energy, and the need for energy storage solutions to support the country's growing economy.
• The South Korea lithium ion battery pack market is projected to witness growth at a CAGR of 4.9% during the forecast period with a market size of USD 1457.08 million in 2024.
• The Australia lithium ion battery pack market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 757.68 million in 2024.
• The South East Asia lithium ion battery pack market is projected to witness growth at a CAGR of 6.8% during the forecast period with a market size of USD 1005.38 million in 2024.
• The Rest of Asia Pacific lithium ion battery pack market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 1034.53 million in 2024.

South America Lithium ion Battery Pack

According to Cognitive Market Research, the global lithium ion battery pack market size was estimated at USD 63351.2 Million out of which Latin America market of around 5% of the global revenue with a market size of USD 3167.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031. The government initiatives and incentives aimed at reducing carbon emissions and promoting clean energy technologies spur investment in lithium-ion battery pack manufacturing and deployment. Additionally, the region's abundant renewable energy resources, such as solar and wind, create opportunities for energy storage solutions, driving demand for lithium-ion battery packs. Moreover, partnerships and collaborations between local governments, industry players, and international organizations facilitate technology transfer and market development. In Latin America, the automotive segment holds a prominent market share, with lithium nickel cobalt aluminium oxide (NCA) batteries expected to grow due to their high energy density and suitability for EVs in the region's challenging terrains.

• According to Cognitive Market Research, the Brazil lithium ion battery pack market size was valued at USD 1355.72 million in 2024 and is projected to grow at a CAGR of 3.8% during the forecast period. In Brazil, the sales of lithium-ion battery packs will increase driven by the country's expanding automotive industry, investments in renewable energy projects, and the need for grid stabilization solutions in remote areas.
• The Argentina lithium ion battery pack market had a market share of USD 532.15 million in 2024 and is projected to grow at a CAGR of 4.1% during the forecast period. In Argentina, the sales of lithium-ion battery packs will increase owing to government incentives for EVs, investments in renewable energy, and the country's rich lithium reserves, making it a key player in battery production.
• The Colombia lithium ion battery pack market is projected to witness growth at a CAGR of 3.0% during the forecast period with a market size of USD 281.91 million in 2024.
• The Peru lithium ion battery pack market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 259.74 million in 2024.
• The Chile lithium ion battery pack market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD 228.06 million in 2024.
• The Rest of Latin America lithium ion battery pack market is projected to witness growth at a CAGR of 2.3% during the forecast period with a market size of USD 509.98 million in 2024.

Middle East and Africa Lithium ion Battery Pack

According to Cognitive Market Research, the global Lithium ion battery pack market size was estimated at USD 63351.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 1267.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031. The government initiatives and policies aimed at diversifying the energy mix and reducing dependence on fossil fuels incentivize the adoption of clean energy technologies, including lithium-ion battery packs. Additionally, the region's abundant solar resources create opportunities for solar energy storage solutions, further boosting the demand for lithium-ion battery packs. In MEA, the industrial & grid energy segment is the fastest-growing category, driven by the region's emphasis on grid stabilization and energy security, with more than 80 kWh battery capacity witnessing significant growth due to its suitability for large-scale energy storage projects.

• According to Cognitive Market Research, the GCC Countries lithium ion battery pack market size was valued at USD 542.29 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. In the GCC Countries, the sales of lithium-ion battery packs will increase due to investments in renewable energy projects, government initiatives promoting EV adoption, and the region's strategic focus on diversifying the energy mix.
• The Egypt lithium ion battery pack market is projected to witness growth at a CAGR of 3.8% during the forecast period with a market size of USD 133.04 million in 2024.
• The South Africa lithium ion battery pack market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 200.19 million in 2024. In South Africa, the sales of lithium-ion battery packs will increase driven by investments in renewable energy, grid modernization efforts, and the need for energy storage solutions to address power reliability challenges.
• The Turkey lithium ion battery pack market is projected to witness growth at a CAGR of 3.0% during the forecast period with a market size of USD 108.96 million in 2024.
• The Nigeria lithium ion battery pack market is projected to witness growth at a CAGR of 2.6% during the forecast period with a market size of USD 133.04 million in 2024.
• The Rest of MEA lithium ion battery pack market is projected to witness growth at a CAGR of 2.5% during the forecast period with a market size of USD 149.51 million in 2024.

Lithium ion Battery Pack Market Analysis

Lithium Ion Battery Pack Market Product Type Segment Analysis

According to Cognitive Market Research, lithium cobalt oxide held the major market share over the forecast period. The robust demand for smartphones, laptops, and tablets further propels its sales in the consumer electronics sector. Moreover, the accelerating shift towards electric mobility, fuelled by environmental concerns and government incentives, significantly boosts the demand for lithium cobalt oxide batteries in the automotive industry. Its established track record, coupled with ongoing advancements in technology, solidifies its position as the leading segment in the lithium-ion battery pack market.

Lithium iron phosphate is the fastest-growing category over the forecast period. As the automotive industry going through a transformative shift towards electrification, the demand for safer and more reliable battery solutions rises, thus fuelling the growth of lithium iron phosphate batteries. Additionally, its longer cycle life and resistance to degradation further contribute to its appeal, particularly in stationary energy storage applications, where durability and performance are paramount. Moreover, favourable government policies and incentives aimed at promoting clean energy technologies bolster the adoption of lithium iron phosphate batteries, reinforcing its status as a leading segment in the market.

• Lithium Nickel Cobalt Aluminium Oxide
• Lithium Cobalt Oxide
• Lithium Iron Phosphate
• Lithium Nickel Manganese Cobalt Oxide
• Lithium Titanate
• Lithium Magnesium Oxide

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Lithium ion Battery Pack Industry. Request a Free Sample PDF!

Lithium Ion Battery Pack Market Cell Type Segment Analysis

According to Cognitive Market Research, prismatic hold a prominent market share due to their design advantages and suitability for various applications. Their compact and uniform shape allows for efficient packing in battery modules, maximizing space utilization in devices and electric vehicles. Additionally, prismatic batteries offer enhanced thermal stability and safety features, making them preferred choices for automotive and energy storage solutions. Their ease of assembly and handling also contributes to their widespread adoption across industries.

Pouches are the fastest-growing category over the forecast period. Their flexible design enables versatility in battery pack configurations, facilitating integration into diverse applications such as wearable devices, smartphones, and electric vehicles. This adaptability is particularly appealing to manufacturers seeking compact and lightweight energy solutions. Secondly, advancements in pouch cell technology, including improvements in energy density and cycle life, enhance their performance and competitiveness in the market. Additionally, the increasing demand for portable electronics and electric mobility drives the adoption of pouch batteries, further fuelling their growth trajectory.

• Cylindrical
• Prismatic
• Pouches

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Lithium ion Battery Pack Nominal Voltage Segment Analysis

According to Cognitive Market Research, 12V hold a prominent market share due to their widespread use in various applications such as automotive starting, lighting, and ignition (SLI) systems, marine, and recreational vehicles. Their standardized voltage makes them compatible with a wide range of devices and vehicles, contributing to their popularity among consumers and manufacturers alike. Additionally, advancements in technology, including improved energy density and longer cycle life, further solidify their position in the market.

More than 24V is the fastest-growing category over the forecast period due to several key factors. Firstly, the increasing demand for high-power applications such as electric vehicles, industrial machinery, and renewable energy storage systems necessitates higher voltage battery packs to meet performance requirements. Additionally, advancements in energy management systems and power electronics enable the integration of higher voltage battery packs into various applications, offering enhanced efficiency and performance.

• Less than 12V
• 12V
• 24V
• More than 24V

Lithium ion Battery Pack Battery Capacity Segment Analysis

According to Cognitive Market Research, 30 to 60 kWh hold a prominent market share due to its versatility and widespread adoption in several applications such as EV, residential energy storage systems, and grid-scale installations. These battery packs strike a balance between capacity, cost, and weight, making them ideal for meeting the needs of both consumers and businesses. Additionally, advancements in battery technology, coupled with economies of scale in production, contribute to their competitiveness and market dominance.

More than 80 kWh is the fastest-growing category over the forecast period. The increasing demand for electric vehicles with extended range capabilities necessitates higher capacity battery packs to meet consumer preferences and regulatory requirements. The advancements in battery chemistry and manufacturing processes enable the production of larger capacity battery packs while maintaining cost-effectiveness and reliability. Additionally, the growing adoption of renewable energy sources and energy-intensive applications further propels the demand for high-capacity battery packs, driving the growth of this segment. 

• >20 kWh
• 30 to 60 kWh
• 60 to 80 kWh
• More than 80 kWh

Lithium ion Battery Pack End Use Segment Analysis

According to Cognitive Market Research, automotive hold a prominent market share due to the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs). Stringent emissions regulations, coupled with consumer demand for eco-friendly transportation options, drive the sales of lithium-ion battery packs in the automotive sector. Additionally, ongoing technological advancements in battery technology, such as increased energy density and faster charging capabilities, enhance the appeal of electric vehicles, further boosting the demand for lithium-ion battery packs in the automotive industry.

Industrial & grid energy is the fastest-growing category over the forecast period. The transition towards renewable energy sources and the need to stabilize the electrical grid spur the deployment of energy storage solutions, including lithium-ion battery packs. Secondly, increasing industrial automation and electrification initiatives in sectors such as manufacturing, logistics, and telecommunications require reliable backup power systems, further propelling the demand for lithium-ion battery packs in industrial applications. Moreover, advancements in grid-scale energy storage technologies and favourable government policies incentivizing energy storage deployments contribute to the rapid growth of this segment. 

• Automotive
• Consumer Electronics
• Medical Devices
• Industrial & Grid Energy

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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