Global Lithium-Ion Battery Market Size Could Exceed $94 Billion By 2025

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Mar 30, 2021, 08:45 ET

PALM BEACH, Fla., March 30, 2021 /PRNewswire/ -- The global lithium-ion battery has really made its mark in our society. Lithium-Ion, or Li-Ion batteries are a type of rechargeable battery that's used in many applications, but most commonly in the electronics industry. Li-Ion batteries provide portable electricity, powering electronic gadgets such as mobile phones, laptops and tablets. Li-Ion batteries are also used to supply energy to medical equipment, electric vehicles and power tools. Lithium is the primary source for Li-Ion battery packs as it is more stable and safer in charging and discharging energy compared to other minerals. Aside from the electronics industry, lithium is a staple mineral in mining, manufacturing, energy storage and many others. Due to its many industry uses, the importance of lithium-ion batteries cannot be overstated: it is, quite possible, one of the most crucial developments in the modern world, without which the 21^st century would not have been possible. Active companies with recent developments in the industry include: Blink Charging Co. (NASDAQ: BLNK), Extreme Vehicle Battery Technologies Corp. (OTCPK: CRYBF) (CSE: ACDC), ChargePoint Holdings, Inc (NYSE: CHPT), NRG Energy, Inc. (NYSE: NRG), ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO).

A report from Markets And markets projected that the global lithium-ion battery market size is estimated to grow from USD 44.2 billion in 2020 to USD 94.4 billion by 2025; it is expected to grow at a CAGR of 16.4%. The growth of this market is likely to be driven by the excellent features of li-ion batteries, increasing adoption of consumer electronics, and growing R&D initiatives by different organizations & battery manufacturers. Moreover, an increase in demand for plug-in vehicles, rising need for automation and battery-operated material-handling equipment in industries, propelling demand for smart devices and other industrial goods, and high requirement of lithium-ion batteries for industrial applications are other key driving factors. Lithium-ion battery market for automotive is expected to hold the largest market during the forecast period. Increasing adoption and awareness of EVs, government initiatives, and regulations supporting the adoption of EVs around the world are the factors that are driving the growth of the lithium-ion battery market. The market for these vehicles is expected to grow in the near future, partly driven by the adoption of various environmental norms and emission regulations. This has increased the demand for Li-ion batteries."

Extreme Vehicle Battery Technologies Corp. (OTCPK: CRYBF) (CSE: ACDC) BREAKING NEWS: EV Battery Tech Partner Daymak sees Avvenire Orders Increase - The Daymak Avvenire Campaign, Powered by IoniX Pro Batteries saw another spike in Pre-Orders - Extreme Vehicle Battery Technologies Corp. (the "Company" or "EV Battery Tech") is pleased to announce that its partner, Daymak International Inc. ("Daymak"), saw pre-orders double from $51,915,370 to $141,748,230 for its Avvenire Products. Total orders continue to surpassed expectations.

For a live counter of pre-order sales please visit http://daymakavvenire.com/campaign/.

EV Battery Tech is expected to equip all Daymak Avvenire products with customized IoniX Pro Lithium-Ion battery packs, which will all contain the Company's patented and AI powered battery management system (BMS). Daymak estimates that over 30% of its production cost will be in the battery and BMS systems from by IoniX Pro.

All retail pre-orders are potential sales and require a minimum deposit and distributor pre-orders require a letter of interest. All deposits are non-refundable.

"We are delighted by the continuing sales over the weekend and we truly believe this will continue. We are excited to develop this product and believe it's a truly unique product to offer the market" said Aldo Baiocchi President and CEO of Daymak. "We are thrilled for 2023 when we expect to see these EV's on the street!". Read this entire press release and more news for ACDC at: https://www.financialnewsmedia.com/news-acdc

Other industry developments from around the markets include:

Blink Charging Co. (Nasdaq: BLNK, BLNKW), a leading owner, operator, and provider of electric vehicle (EV) charging equipment and services, recently announced financial results for the fourth quarter and year ended December 31, 2020.

"Blink's fourth quarter 2020 results delivered a strong close to 2020, continuing the momentum we built during the second and third quarters, and characterized by significantly increased revenue driven by substantial growth in product sales. Despite the many public health and economic challenges presented by the COVID-19 pandemic, we've continued the aggressive deployment of our owned and operated EV charging stations for a wide variety of partners and locations, including healthcare networks, hotels, multi-family residences, and municipalities. Specifically, during the fourth quarter, 66% of commercial deployments were Blink-owned units. As we have previously outlined, Blink's unique owner/operator model is a key differentiator in our industry. With this model, we realize an economic benefit each time a vehicle is charged at a Blink-owned unit. As EV adoption continues to grow and utilization of chargers increases, we expect Blink-owned units will represent a valuable recurring revenue stream for many years to come," stated Michael D. Farkas, Founder and Chief Executive Officer of Blink.

ChargePoint Holdings, Inc (NYSE: CHPT), a world-leading electric vehicle (EV) charging network, recently announced fourth quarter and full-year fiscal 2021 financial results.

"Last year the global EV sector continued to show strength as EV sales grew despite a slow overall vehicle market, bolstered by policy trends that continued to accelerate the shift to electric in North America and Europe," said Pasquale Romano, President and CEO of ChargePoint. "In 2020, we continued to strengthen our market leadership position and expect our growth to be fueled by dozens of new EV models anticipated in 2021 across a wide range of segments and price points. With a strong balance sheet and a capital light business model, ChargePoint is well positioned to create shareholder value through broad attachment to the electrification of mobility for fleet and consumer vehicle markets."

NRG Energy, Inc. (NYSE: NRG) recently reported full year 2020 income from continuing operations of $510 million, or $2.07 per diluted common share. Adjusted EBITDA for the full year of 2020 was $2.0 billion, cash from continuing operations was $1.8 billion and Free Cash Flow Before Growth (FCFbG) was $1.5 billion.

"Our priority today is both helping our Texas communities recover and working with all necessary stakeholders to improve the resilience of the energy system," said Mauricio Gutierrez, NRG President and Chief Executive Officer. "We continue to advance our customer-focused strategy with the completion of the Direct Energy acquisition and today's announced sale of 4.8 GW non-core fossil generating assets. Our integrated platform performed well in 2020 and continues to perform through unprecedented conditions, further validating our business model."

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) recently announced the expansion of its retail footprint into seven (7) additional locations along the West Coast of the United States. These direct-to-consumer retail centers include the Company's first locations in Colorado and Washington as well as additional locations in California, Arizona and Oregon. Following the opening of these new locations, the Company now maintains a total of 20 locations in ten (10) major metropolitan areas within five (5) states in the western U.S.

The new locations are set to open in May and June in traditional, high-end malls and town centers including Arden Fair Mall in Sacramento, CA; Clackamas Town Center in Portland, OR; Alderwood Mall in Seattle, WA; Chandler Fashion Center in Chandler, AZ; Park Meadows in Lone Tree, CO; Del Amo Fashion Center in Torrance, CA; and The Shops at Mission Viejo in Mission Viejo, CA.

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