Market Overview

The Spain lithium-ion battery market was valued at USD 868.30 Million in 2024 and is expected to reach USD 2,255.60 Million by 2033, growing at a CAGR of 11.19% during 2025-2033. Key growth drivers include increasing adoption of electric vehicles, integration of renewable energy, and supportive EU decarbonization policies. Expanding energy storage requirements, government incentives, and technological advancements further strengthen the domestic supply chain across automotive, grid storage, and consumer electronics sectors.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Spain Lithium-ion Battery Market Key Takeaways

• Current Market Size: USD 868.30 Million in 2024
• CAGR: 11.19% during 2025-2033
• Forecast Period: 2025-2033
• There is a growing focus on domestic battery manufacturing with emphasis on lithium iron phosphate and other chemistries balancing performance and sustainability.
• Major investments include a EUR 4.1 Billion joint venture by Stellantis and CATL to build a lithium iron phosphate plant in Zaragoza, Spain.
• Increasing electric vehicle production and renewable energy uptake in Spain are fueling demand for high-capacity lithium-ion batteries.
• Investment in grid-scale lithium-ion storage systems is rising to support solar and wind power integration.
• Research initiatives focus on improving energy density, reducing costs, and enhancing recycling for sustainability.

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Spain Lithium-ion Battery Market Growth Factors

The Spain lithium-ion battery market growth is driven by the increasing adoption of electric vehicles (EVs) in Spain and expansion in EV manufacturing by automotive companies in Spain, along with their investment in the local manufacturing of batteries and supply chain infrastructure. Furthermore, government policies supporting decarbonization and the adoption of clean energy are propelling Spain's lithium-ion battery market growth. In addition to automotive, higher renewable energy generation from solar and wind requires more grid-scale energy storage for which lithium-ion batteries are attractive.

Regional governments are leveraging the European Union decarbonization policy to push clean-energy technologies, with associated investments in supply chains, decreasing reliance on imports and increasing adoption of advanced lithium-ion battery chemistries like lithium iron phosphate (LFP). Stellantis and CATL currently aim to neutralize carbon and sustain Spain's automotive battery value chain industrially for the long term via building a EUR 4.1 Billion lithium iron phosphate (LFP) battery plant.

Lithium-ion battery technological advancements increase energy density by a margin. They reduce cost. They improve recyclability. These drive the market in line with sustainable development goals. These advancements are expected to help the battery industry meet performance and cost requirements of automotive, grid storage, and consumer electronics applications. Spanish and international battery companies are collaborating to access the technology at low cost to provide a strong market growth.

Spain Lithium-ion Battery Market Segmentation

Product Type Insights:

• Lithium Cobalt Oxide
• Lithium Iron Phosphate
• Lithium Nickel Manganese Cobalt
• Lithium Manganese Oxide
• Others

The report presents detailed analysis by product type, covering major lithium-ion battery chemistries including cobalt oxide, iron phosphate, nickel manganese cobalt, manganese oxide, and other variants.

Power Capacity Insights:

• 0 to 3000mAh
• 3000mAh to 10000mAh
• 10000mAh to 60000mAh
• More than 60000mAh

The segmentation classifies batteries based on their power capacity, from under 3000mAh to above 60000mAh, providing insights into different battery performance tiers.

Application Insights:

• Consumer Electronics
• Electric Vehicles
• Energy Storage
• Others

Applications span consumer devices, electric vehicles, grid energy storage, and miscellaneous uses, highlighting the diverse market demand drivers.

Recent Developments & News

• In January 2025: ICL and Shenzhen Dynanonic announced plans to invest approximately EUR 285 Million in a lithium iron phosphate (LFP) cathode active material plant in Sallent, Spain. This initiative aims to expand ICL's battery materials presence in Europe and bolster the sustainable supply chain supporting the region’s energy transition efforts. By combining ICL’s phosphate expertise and Dynanonic’s battery materials leadership, the project addresses growing demand for battery raw materials.

Key Players

• Stellantis
• CATL
• ICL
• Shenzhen Dynanonic

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