Wilmington, Delaware, United States, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - By 2025, the Li metal battery market size is projected to attain value of US$ 6.0 Bn. The global market is anticipated to expand at 24.4% CAGR during the forecast period, from 2025 to 2031. It is expected that by 2031, the global Li metal battery market is predicted to touch value of US$ 25.3 Bn. Due to its superior existing qualities, including lightweight, high-energy density, and rapid charging capacity, lithium metal batteries are predicted to surpass lithium-ion batteries, particularly in electronics and automotive industries. Li-metal batteries are anticipated to become widely commercialized soon.
In order to develop high-performance, sophisticated, corrosion-free, and dendrite-free Lithium metal batteries, battery manufacturers are anticipated to invest more on R&D projects. In order to offset the high upfront cost of Li metal batteries, businesses are expected to raise knowledge about their benefits. Their reliable performance during power surges and abrupt outages and their low maintenance costs are some of the benefits, which are Li metal battery market growth factors.
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Based on region, Asia Pacific is anticipated to represent for more than 59% of the global market in 2025. Off-grid electricity is being planned in a number of Asia-Pacific nations, particularly in the rural areas. As governments in developing countries adopt new regulations to enhance quality and dependability of power distribution facilities for residential consumers, investments in energy storage systems are anticipated to rise significantly in the area.
Key Findings of Market Report
- Lithium-ion batteries have a high power and energy density that can even run an electrical grid. Solar energy systems, electric vehicles, and electronic devices are all using Li metal batteries more and more. Due to its light weight, efficiency, and high energy density, lithium batteries are utilized in a broad range of electric vehicles, portable consumer electronics, solar storage, power backups, and medical equipment.
- It is anticipated that electric vehicles will determine the future of transportation systems and automotive industry. Rise in EV usage is anticipated to come up as one of the key Li metal battery market trends. The global market for Li metal battery market is also expected to benefit from stringent laws regulating the usage of fuels and automobiles that run on gasoline.
- These Li metal batteries are anticipated to be very beneficial in remote places where energy is not accessible, such as small companies, hill stations, rural areas, and so on. These batteries can be utilized as a storage solution with environmentally friendly solar systems, which is expected to widen scope of the global Li metal battery market.
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Global Li Metal Battery Market: Growth Drivers
- Sales of batteries with a capacity more than 50 Ah to 100 Ah are anticipated to reach US$ 2.2 Bn and the segment is expected to account for a considerable Li metal battery market share. Due to their greater adaptability and acceptability, batteries with a capacity of 50 Ah or more are frequently employed in marine, industrial, and automotive applications.
Global Li Metal Battery Market: Key Competitors
- Sion Power Corporation
- Sepion Technologies, Inc.
- QuantumScape Corporation
- Li-Metal Corp.
- SES AI Corporation
- Ion Storage Systems
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Global Li Metal Battery Market: Segmentation
Operation
- Rechargeable
- Non-rechargeable
Capacity
- Up to 10 Ah
- >10 Ah-50Ah
- >50Ah-100Ah
- >100Ah
Application
- Corded
- Laptop
- Cell Phone
- Hybrids and Electric Vehicle
- Energy Storage Systems
- Battery-operated Power Tools
- Drones and Robotics
- Power Electronic Devices
- Electric Grid
- Cardiac Pacemaker
- Drug Pumps
- Others
End Use
- Automotive
- Consumer Electronics
- Industrial
- Medical
- Marine
- Others
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