- Large-Scale Lithium-Ion Battery Market expands strongly through 2040.
- Solid-state batteries accelerate future electrification across multiple industries.
Japan-based Fuji Keizai Co Ltd announced on July 14 the findings of its comprehensive study covering the battery industry and long-term global market outlook. According to the report, the worldwide market for large-scale lithium-ion rechargeable batteries used in electric vehicles and energy storage systems is expected to reach JPY 63.255 trillion by 2040, representing a 3.5-fold increase compared with 2024. During the same period, the market for solid-state lithium-ion rechargeable batteries is forecast to expand significantly to JPY 3.5435 trillion, equivalent to 26.1 times its 2024 level.
Strong Momentum Continues Despite EV Growth Concerns
Although the electric vehicle industry experienced concerns regarding slower growth during 2025, the market for large-scale lithium-ion rechargeable batteries continued to record stable expansion. The report estimates that the market will reach JPY 31.4738 trillion in 2026, supported by continued demand for battery-powered vehicles and the introduction of new vehicle models across global markets. This resilience highlights the ongoing importance of rechargeable battery technology for transportation and stationary energy storage applications.
Key Battery Market Forecast Through 2040
| Market Segment | 2040 Forecast | Growth vs 2024 |
|---|---|---|
| Large-scale lithium-ion rechargeable batteries | JPY 63.255 trillion | 3.5× |
| Solid-state lithium-ion rechargeable batteries | JPY 3.5435 trillion | 26.1× |
| Large-scale lithium-ion battery market (2026) | JPY 31.4738 trillion | Projected value |
Autonomous Driving and SDVs to Support Market Expansion
The study indicates that future demand for electric vehicles will receive additional support from advances in autonomous driving technologies and software-defined vehicles. These innovations are expected to strengthen EV adoption while increasing the need for high-capacity rechargeable batteries. As vehicle manufacturers introduce new models equipped with advanced digital capabilities, battery demand is anticipated to grow steadily across the automotive sector.
Electrification Beyond Passenger Vehicles
From 2030 onward, electrification is expected to extend beyond conventional road transportation into additional industries. The report forecasts increasing battery adoption in industrial vehicles and marine vessels, creating new opportunities for large-scale lithium-ion battery deployment. This broader transition toward electrified mobility and industrial equipment is expected to contribute significantly to long-term global battery market growth while supporting expanding energy storage requirements.
Frequently Asked Questions
What is driving the projected growth of the global large-scale lithium-ion battery market?
The global large-scale lithium-ion battery market is expected to grow because of increasing electric vehicle adoption, expanding energy storage applications, and continued investment in battery technologies. According to the survey, new vehicle launches, advances in autonomous driving, software-defined vehicles, and electrification across industrial vehicles and marine vessels are expected to sustain long-term demand, leading the market to reach JPY 63.255 trillion by 2040 while solid-state battery technologies experience even faster expansion.
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