The global market for Lithium-ion batteries is expanding rapidly. We take a closer look at new value chain solutions that can help meet the growing demand.
The global lithium-ion battery market was valued at USD 64.84 billion in 2023 and is projected to grow from USD 79.44 billion in 2024 to USD 446.85 billion by 2032, exhibiting a CAGR of 23.33% during the forecast period. Asia-Pacific dominated the lithium-ion battery market with a market share of 48.45% in 2023.
It is projected that between 2022 and 2030, the global demand for lithium-ion batteries will increase almost seven-fold, reaching 4.7 terawatt-hours in 2030. Much of this growth can be attributed to the rising popularity of electric vehicles, which predominantly rely on lithium-ion batteries for power.
Automotive lithium-ion (Li-ion) battery demand increased by about 65% to 550 GWh in 2022, from about 330 GWh in 2021, primarily as a result of growth in electric passenger car sales, with new registrations increasing by 55% in 2022 relative to 2021.
But a 2022 analysis by the McKinsey Battery Insights team projects that the entire lithium-ion (Li-ion) battery chain, from mining through recycling, could grow by over 30 percent annually from 2022 to 2030, when it would reach a value of more than $400 billion and a market size of 4.7 TWh. 1
In 2023, IEA’s report showed that battery demand for lithium reached around 140 kt, accounting for 85% of total lithium demand, while cobalt demand for batteries rose by 15% to 150 kt, representing 70% of the total demand. Battery demand for nickel also surged to nearly 370 kt, up almost 30% from 2022.
In 2023, IEA''s report showed that battery demand for lithium reached around 140 kt, accounting for 85% of total lithium demand, while cobalt demand for batteries rose by 15% to 150 kt, representing 70% of the total …
The global lithium-ion battery market was valued at USD 64.84 billion in 2023 and is projected to grow from USD 79.44 billion in 2024 to USD 446.85 billion by 2032, exhibiting a CAGR of 23.33% during the forecast …
As EV sales continue to increase in today''s major markets in China, Europe and the United States, as well as expanding across more countries, demand for EV batteries is also set to …
As EV sales continue to increase in today''s major markets in China, Europe and the United States, as well as expanding across more countries, demand for EV batteries is also set to grow quickly. In the STEPS, EV battery demand grows …
Every year the world runs more and more on batteries. Electric vehicles passed 10% of global vehicle sales in 2022, and they''re on track to reach 30% by the end of this decade.. Policies around ...
Production of various lithium products: Foundation Year: Founded in the 1940s as Lithium Corporation of America: Acquisition: Acquired by FMC in 1985, IPO completed in …
The global lithium-ion battery market was valued at USD 64.84 billion in 2023 and is projected to grow from USD 79.44 billion in 2024 to USD 446.85 billion by 2032, …
However, even a rechargeable battery is degrading over time and ultimately all lithium-ion batteries will cease to work. Depending on chemistry, size, configuration and purpose a …
Rising EV battery demand is the greatest contributor to increasing demand for critical metals …
In 2023, IEA''s report showed that battery demand for lithium reached around 140 kt, accounting for 85% of total lithium demand, while cobalt demand for batteries rose by …
Analyses of the global market trends, with sales data for 2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2029; Evaluation and forecast the overall …
Lithium-ion battery metals market size worldwide by application 2021-2031 Size of the global market for lithium-ion battery metals in 2021, with a forecast for 2031, by …
Annual car sales worldwide 2010-2023, with a forecast for 2024 ... Premium Statistic Lithium end-use share in the global market 2023 ... Lithium-ion battery industry …
The lithium-ion battery value chain is set to grow by over 30 percent annually from 2022-2030, in line with the rapid uptake of electric vehicles and other clean energy …
Lithium-ion battery metals market size worldwide by application 2021-2031 Size of the global market for lithium-ion battery metals in 2021, with a forecast for 2031, by end-use segment...
This document outlines a U.S. lithium-based battery blueprint, developed by the . Federal Consortium for Advanced Batteries (FCAB), to guide investments in . the domestic lithium …
Rising EV battery demand is the greatest contributor to increasing demand for critical metals like lithium. Battery demand for lithium stood at around 140 kt in 2023, 85% of total lithium demand …
Automotive lithium-ion (Li-ion) battery demand increased by about 65% to 550 GWh in 2022, from about 330 GWh in 2021, primarily as a result of growth in electric passenger car sales, with …
Analyses of the global market trends, with sales data for 2023, estimates for 2024, and …
Ganfeng Lithium Company, based in Jiangxi province, signed a deal with Argentina to build a lithium-ion battery factory in Jujuy province last month. The project, in …
Automotive lithium-ion (Li-ion) battery demand increased by about 65% to 550 GWh in 2022, from about 330 GWh in 2021, primarily as a result of growth in electric passenger car sales, with new registrations increasing by 55% in 2022 …
The global demand for lithium-ion battery cells is forecast to increase from approximately 700 gigawatt-hours in 2022 to 4,700 gigawatt-hours in 2030.
6 · The figures represent an average across multiple battery end-uses, including different types of electric vehicles, buses and stationary storage projects. Prices for battery electric …
battery sales in the United States across all applications by the year 2035. This transition to nickel- and cobalt-free cell ... viable end-of-life (EOL) ecosystem for lithium-based batteries. …
While the average battery size for battery electric cars in the United States only grew by about 7% in 2022, the average battery electric car battery size remains about 40% higher than the global average, due in part to the higher share of …