The Battery Monitor 2023 report by Roland Berger and RWTH Aachen University’s PEM group predicts the battery market will grow sixfold by 2030, driven by the green transition’s demand for electric vehicles and renewable energy storage.
With a 34% CAGR, the expected market demand is about 4,900 GWh by 2030, up from 800 GWh in 2022. Despite this surge, the market is anticipated to avoid overcapacity due to consolidation. The report calls for a comprehensive sustainability approach in regulations, emphasizing the Inflation Reduction Act’s influence on the US market’s attractiveness.
The scarcity of cathode materials is a pressing issue, with the report advocating for better production methods, secure supply chains, and alternative technologies like LFP and sodium-ion batteries. As EVs will likely dominate Li-ion battery demand, charging sustainability and fast-charging infrastructure improvements are crucial.
The report concludes that the battery industry must adapt by securing materials, adopting new technologies, and supporting sustainable regulations, with the EU encouraged to establish trade agreements to ensure a steady supply of raw materials.
An update on developments in the global battery value chain, and their implications.
Source: Battery Monitor 2023 | Roland Berger