The global lithium-ion battery market size is projected to grow from USD 41.1 billion in 2021 to USD 16.6 billion by 2030. It's expected to grow at a CAGR of 12.3% from 2021 to 2030. The expansion of the market is majorly driven by stormy demand for continuous power offer from crucial infrastructures in wake of COVID-19, increasing demand for plug-in vehicles, growing want for battery-operated material-handling instrumentation in industries because of automation, continued development of sensible devices, and growing adoption of lithium-ion batteries in renewable energy sector.
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