Li-ion battery demand is expected to grow by about 27 percent annually to reach around 4,700GWh by 2030.
Global Li-ion battery cell demand, GWh,Base case Battery energy storage systems (BESS) will have a CAGR of 30 percent, and the GWh required to power the-se applications in 2030 will be comparable to the GWh needed for all applications today.
China could account for 45 percent of total Li-ion demand in 2025 and 40 percent in 2030- most battery-chain segments are already mature in that country.Nevertheless, growth is expected to be highest globally in the EU and the United States, driven by recent regulatory changes, as well as a general trend toward lgcalization of supply chains. In total, at least 120 to150 new battery factories will need to be built between now and 2030 globally.
In line with the surging demand for Li-ion batteries across industries, we project that revenues along the entire value chain will increase 5-fold, from about $85 billion in 2022 to over $400 billion in 2030 .
