In 2030, the worldwide battery industry is worth $166B

To meet the increasing demand for EV’s, the battery market will need to grow rapidly. According to the Green Finance Institute, the estimated market value in 2030 ranges from $116 billion to $278 billion, while the global market value in 2021 was around $46bn. Some other takes:

Currently, China holds 85% of the battery market and is expected to remain the market leader. However, the sheer scale of demand means other countries will have the opportunity to secure a piece of the market.

Seeing future economies will depend on batteries, the competition for a share of the market is fierce, and often described as a ‘battery arms race’.

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A world map depicts the locations and status of lithium-ion battery manufacturing assets. Blue circles indicate fully commissioned sites, green circles indicate sites under construction, and yellow circles represent announced sites. The largest clusters are in East Asia, Europe, and North America.

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Lithium Ion manufacturing map | BNEF, Green Finance Institute

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