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Lithium-Ion Battery Cell Market Size Projected to Reach USD 187.1 billion by 2032, With 14.2% CAGR| Persistence Market Research [Yahoo! Finance]

Ultralife Corporation (ULBI) 
Company Research Source: Yahoo! Finance
New York, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Market Size & Overview: The Lithium-ion Battery Market Size is projected to experience substantial growth, increasing from USD 56.8 billion in 2023 to a noteworthy USD 187.1 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 14.2% during the period from 2023 to 2032. The surge in global demand for lithium-ion battery market is primarily attributed to the heightened need for hybrid and plug-in hybrid electric vehicles, stringent environmental protection mandates imposed by governments, a growing market for consumer electronics, and ongoing research and development endeavors aimed at enhancing the performance of lithium-ion batteries. Furthermore, the reduction in the prices of lithium-ion batteries is a significant driver, contributing to their widespread adoption across various industries. Lithium-ion batteries play a vital role in powering a diverse range of devices, including smartphones, power tools, electric vehic Show less Read more
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