Will global battery demand quadruple between 2023 & 2030?

SINGAPORE – July 17, 2024 – Global battery demand is expected to quadruple to 4,100 gigawatt-hour (GWh) between 2023 and 2030 as electric vehicle (EV) sales continue to rise. As a result, OEMs must hone in on their battery strategies, according to a new report by Bain & Company.

What chemistries make up the lithium-ion battery market?

LFP and NMC chemistries together currently make up more than 90% of lithium-ion battery sales for EVs. “Emerging technologies such as solid-state and high-density sodium-ion are still in the prototype and pilot manufacturing stages, and their market share is expected to stay in the single-digit range until 2030,” the firm said.

Can high-energy batteries be quadrupled?

As a result, the DLC capability of high-energy batteries can be quadrupled. This PCC consists of a three-layered, hierarchical and porous polymer matrix with Cu and Al coating on either side.

What are lithium ion batteries?

The widespread adoption of electric vehicles and the realization of electric aircrafts are becoming increasingly reliant on energy-dense lithium-ion batteries (LIBs) 1, 2, 3, 4. The state-of-the-art energy-dense (>250 Wh kg −1) LIBs are composed of nickel-rich layered oxide cathodes and graphite anodes 5.

Could a lithium-air battery store more energy than a lithium-ion battery?

“We have been working overtime.” Researchers at the Illinois Institute of Technology and the Argonne National Laboratory have developed a so-called “lithium-air battery” that can storealmost four times as much energy as a lithium-ion battery of the same size, Innovation News Network (INN) reports.

Are lithium-ion batteries a sustainable solution?

“The lithium-ion batteries are one of the solutions powering the rapid increase in clean energy vehicles and ensuring Panasonic Energy can meet that demand in a sustainable way requires a lot of innovation.” Globally, the growth of EV sales continues to exceed forecasts.