According to some projections, by 2030, the cost of lithium-ion batteries could decrease by an additional 30–40%, driven by technological advancements and increased production. This trend is expected to open up new markets and applications for battery storage, further driving economic viability.
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.
Their potential is, however, yet to be reached. 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.
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
Lithium-ion batteries have revolutionized our everyday lives, laying the foundations for a wireless, interconnected, and fossil-fuel-free society. Their potential is, however, yet to be reached.
China had the highest lithium-ion batteries revenue opportunities, with a combined amount of approximately 185 billion U.S. dollars forecast for 2030. Get notified via email when this statistic is updated. You only have access to basic statistics. This statistic is not included in your account. Business Solutions including all features.
Profitability of lithium battery energy storage systems. Since the first half of last year, the prices of all raw materials upstream of lithium batteries have risen to varying degrees. The price of battery-grade lithium carbonate once soared …