Lithium Electricity Equipment Global Market Report 2025

The lithium electricity equipment market size has grown rapidly in recent years. It will grow from $32.8 billion in 2024 to $37.45 billion in 2025 at a compound annual growth rate (CAGR) of 14.2%. The growth during the historic period can be attributed to the increasing use of portable electronics, rising demand for rechargeable battery systems, greater adoption of smartphones and laptops, expansion in consumer electronics manufacturing, and growing interest in hybrid vehicles.

The lithium electricity equipment market size is expected to see rapid growth in the next few years. It will grow to $62.85 billion in 2029 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to increasing demand for electric vehicles, a growing focus on integrating renewable energy, rising investment in grid energy storage, expansion of industrial automation systems, and stronger government support for clean energy. Key trends during this period include technological advancements in solid-state batteries, innovations in fast-charging solutions, development of next-generation battery chemistries, increased investment in recycling and second-life batteries, and ongoing research and development in high-density energy cells.

The growing demand for electric vehicles (EVs) is expected to drive the expansion of the lithium electricity equipment market. EVs are powered fully or partially by electricity, utilizing electric motors and batteries rather than traditional internal combustion engines. This demand is rising as governments worldwide enforce stricter emission regulations and introduce incentives like tax rebates and subsidies to encourage cleaner transportation options. Lithium electricity equipment plays a vital role by providing lightweight, high-capacity batteries that enable longer driving ranges and faster charging times. For example, according to the Energy Information Administration in December 2024, the combined share of hybrid, plug-in hybrid, and battery electric vehicles (BEVs) in total new light-duty vehicle sales in the United States increased from 19.1% in Q2 2024 to 21.2% in Q3 2024. This upward trend in EV adoption is a key driver for the lithium electricity equipment market’s growth.

Leading companies in the lithium electricity equipment market are focusing on innovative products like advanced lithium-ion batteries to improve energy storage, efficiency, and overall performance. Advanced lithium-ion batteries are enhanced versions of traditional lithium-ion technology, offering higher energy density, faster charging, longer lifespans, and improved safety. For instance, in October 2024, Exide Technologies, a US-based battery manufacturer, introduced the Solition Material Handling battery. This cutting-edge lithium-ion battery utilizes lithium iron phosphate (LiFePO₄) technology, delivering twice the capacity of traditional lead-acid batteries, exceptional safety, rapid charging, and up to 4,000 life cycles. Its modular design, smart monitoring, and compliance with strict safety standards make it a transformative solution for sustainable and efficient industrial and logistics fleets, reducing total cost of ownership through enhanced efficiency and lower maintenance.

In March 2022, Reliance New Energy Limited, an India-based electric power generation and distribution company, acquired Lithium Werks B.V. for $61 million. This acquisition aims to strengthen Reliance’s materials supply chain and technology portfolio for large-scale manufacturing of cobalt-free lithium iron phosphate (LFP) batteries. The move accelerates the development of an end-to-end battery manufacturing and supply ecosystem to support the rapidly growing Indian EV and energy storage markets. Lithium Werks, based in the Netherlands, specializes in high-performance, cobalt-free LFP batteries and related battery technology.

Major players in the lithium electricity equipment market are BYD Company Limited, Panasonic Corporation, Contemporary Amperex Technology Co. Limited, Toshiba Corporation, LG Energy Solution Ltd., Samsung SDI Co. Ltd., GS Yuasa Corporation, EnerSys, Wuxi Lead Intelligent Equipment Co. Ltd., Exide Technologies, Northvolt AB, CKD Corporation, Redwood Materials Inc., Microvast Holdings Inc., SVOLT Energy Technolog, Lyten Inc., Tenergy Corporation, South 8 Technologies Inc., Tianjin Lishen Battery Joint-Stock Co. Ltd., Cadenza Innovation Inc., Sunwoda Electronic Co. Ltd., Polinovel.

Asia-Pacific was the largest region in the lithium electricity equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in lithium electricity equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the lithium electricity equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Lithium electricity equipment refers to a wide variety of devices and systems that use lithium-based batteries, mainly lithium-ion or lithium metal batteries, as their primary power source. These include battery packs, energy storage systems, portable power stations, and battery management systems which are commonly found in electric vehicles, consumer electronics, renewable energy setups, and industrial applications for portable power, backup electricity, and grid-level storage.

The main categories of products in lithium electricity equipment are lithium-ion batteries, battery management systems, chargers, inverters, and others. Lithium-ion batteries are rechargeable and known for their high energy density and long cycle life. They include different technologies such as traditional lithium-ion batteries, advanced lithium battery technologies, solid-state lithium batteries, hybrid lithium batteries, and lithium-sulfur batteries. These batteries are used in electric vehicles, energy storage systems, consumer electronics, industrial equipment, and more. The products are distributed through both online and offline channels and serve a wide range of end users such as the automotive industry, consumer electronics, renewable energy systems, telecommunications, and healthcare equipment.

The lithium electricity equipment market research report is one of a series of new reports that provides lithium electricity equipment market statistics, including lithium electricity equipment industry global market size, regional shares, competitors with a lithium electricity equipment market share, detailed lithium electricity equipment market segments, market trends and opportunities, and any further data you may need to thrive in the lithium electricity equipment industry. This lithium electricity equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The lithium electricity equipment market consists of sales of lithium-based storage systems, battery modules, cell assembly equipment, battery testing equipment, and charge-discharge testers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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