In conclusion, this comprehensive review underscores the significance of improving commercial-grade LiB electrodes. While progress has been made, further research and development are necessary to overcome challenges and fully unlock the potential of designing novel commercial LiBs. Researchers, practitioners, and stakeholders in the domain of improving the preexisting commercial LiBs should prioritize addressing the identified limitations and actively explore emerging trends and collaborations to advance the field. Critical material recovery from spent commercial LiBs is also something that needs to be addressed for the establishment of a circular economy.