The global lithium-ion battery market size is expanding at a CAGR of 13.0%, and is expected to reach $87.5B (nearly €74.6B) by 2027. The rising sales of EVs and the variation in consumer preferences are being considered as the prominent factors that would drive this growth.
Lithium-ion battery manufacturers such as Stockholm-based Northvolt are well-positioned to ride this growth wave. Northvolt is a supplier of sustainable, high-quality battery cells and systems, and it just raised $600M (nearly €512M).