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Nickel Manganese Cobalt (NMC) battery Market Size
- Report ID: GMI8150
- Published Date: Feb 2024
- Report Format: PDF
Nickel Manganese Cobalt Battery Market Size
Nickel Manganese Cobalt Market was valued at USD 25.8 billion in 2023 and is likely to register at a CAGR of over 15.7% between 2024 and 2032, driven by strong demand for electric vehicles and evolving technological trends across diverse industries. The increasing requirement for energy-efficient storage systems and heightened safety concerns regarding battery longevity have accelerated the adoption of nickel manganese cobalt batteries.
NMC batteries currently stand as among the most widely utilized batteries globally. Their prevalence is largely owed to their high-energy density, whereby a lithium-ion cell of a particular weight and size offers notably greater energy compared to other chemistries including lithium iron phosphate (LFP). Ongoing technological progress in lithium-ion batteries has facilitated the creation of smaller and more streamlined portable electronic devices.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Nickel Manganese Cobalt (NMC) Battery Market Size in 2023: | USD 25.8 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 15.7% |
| 2032 Value Projection: | USD 97.5 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 120 |
| Tables, Charts & Figures: | 129 |
| Segments covered: | Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Nickel Manganese Cobalt (NMC) Battery Market Scope
