What will China's battery energy storage system look like in 2030?

Battery energy storage systems (BESS) will have a CAGR of 30 percent, and the GWh required to power these 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.

Will battery manufacturing grow in the future?

Looking ahead, battery manufacturing is expected to grow in the future as the electric vehicle and renewable energy storage markets continue to expand. However, challenges include developing a more efficient, cost-effective manufacturing process and new battery technologies to accommodate different applications.

Will stationary storage increase EV battery demand?

Stationary storage will also increase battery demand, accounting for about 400 GWh in STEPS and 500 GWh in APS in 2030, which is about 12% of EV battery demand in the same year in both the STEPS and the APS. IEA. Licence: CC BY 4.0 Battery production has been ramping up quickly in the past few years to keep pace with increasing demand.

How is the EV and battery industry evolving?

Jose noted that not only the EV and battery industries but also the automotive industry as a whole is rapidly evolving: “Several notable trends are shaping the development of electric vehicles (EVs) and self-driving vehicles (SDVs), as well as the underlying technologies and manufacturing processes.” For example:

Why is the battery market growing?

The battery market is experiencing significant growth due to the increasing demand for batteries in various emerging applications. Batteries are widely used in consumer electronics such as smartphones, laptops, tablets, and wearable devices. These batteries allow to use of such devices anywhere without having to keep an eye on battery life.

Why is global demand for batteries increasing?

This work is independent, reflects the views of the authors, and has not been commissioned by any business, government, or other institution. Global demand for batteries is increasing, driven largely by the imperative to reduce climate change through electrification of mobility and the broader energy transition.