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Batteries

[New] The demand for lithium-ion batteries in China is expected to grow rapidly, owing to the growth in adoption of new energy vehicles (NEVs) and ESS for on-grid and off-grid applications.
[New] Demand for battery storage is expected to grow to the equivalent of about half of all renewable energy generated today by 2040.
[New] Lead demand for industrial batteries will fall 3.6% in 2020 to 2.63-million tonnes, while demand for vehicle to batteries will drop 6.5% to 7.95-million tonnes.
[New] The worldwide market for cathode for lithium ion battery, the most common rechargeable car battery, was estimated at $7 billion in 2018 and is expected to reach $58.8 billion by 2024.
[New] Electric cars are rapidly becoming more popular amongst consumers, and UNCTAD predicts that some 23 million will be sold over the coming decade: the market for rechargeable car batteries, currently estimated at $7 billion, is forecast to rise to $58 billion by 2024.
[New] The market for next-generation batteries - at one-sixth the cost and 20 times the operating life - is expected to grow 120 times between now and 2040, powering the infrastructure of human augmentation.
[New] Based on a 2019 forecast, the global market for lithium-ion battery recycling is expected to reach over 18 billion U.S. dollars by 2030, up from 1.5 billion U.S. dollars in 2019.
The worldwide market for cathode for lithium ion batteries, the most common rechargeable car battery, was estimated at $7 billion in 2018 and is expected to reach $58.8 billion by 2024.
Explosive growth in the electric vehicle (EV) market over the coming decade is expected to translate into record demand for battery materials including lithium carbonate and lithium hydroxide.
A surge in electric vehicle sales in 2021 as countries around the world push new programs to encourage consumers to buy battery powered vehicles.
The market for lithium-ion batteries is expected to register a compound annual growth rate of approximately 22%, during the forecast period (2019-2024).
The projected market demand for lithium-ion batteries for electric vehicles is expected to reach over 1,500 gigawatt-hours by 2030.
Batteries will help reduce emissions in the transport and power sectors by 30% and so become a driver for decarbonization by 2030 with demand expected to increase 19 times.
Tesla is set to lower the cost of making electric cars by using cheaper batteries, and a deal cut with Chinese battery maker CATL will likely involve lithium iron phosphate technology which does not use expensive cobalt, and may also do away with modules to lessen the cost of making them.
The global demand for lithium is forecasted to grow by ten per cent, per year, between 2019 and 2024 due to the expanding use of rechargeable lithium ion batteries in electric cars and portable electronic devices.
20-30 giga-factories for battery cells production alone will have to be built in Europe in order to meet the demands stemming the EU's carbon neutrality by 2050 goal.
The UK battery industry is expected to be worth £5bn by 2025, with the growth of electric vehicles driving a demand for lithium ion cells.
Battery technology will drive a huge increase in demand for cobalt and lithium, outstripping current supply - lithium supply has been predicted to triple by 2025.
Demand for minerals such as graphite, lithium and cobalt could increase by nearly 500% by 2050 to meet the growing demand for clean energy technologies, such as batteries.
The strong increase in assets to produce Li-ion batteries will likely guarantee their market dominance in the next decade.
The total demand for batteries from the stationary storage and electric transport sectors is forecast to be 4, 58 4GWh by 2040, providing a major opportunity for battery makers and miners of component metals such as lithium, cobalt and nickel.
In Japan, the Battery Electric Vehicles (BEV) segment will reach a market size of 1.5 Billion Units by the close of the analysis period.

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Last updated: 05 July 2020