With the steadily increasing penetration rate of lithium-ion batteries in the transportation market, the energy storage market and the consumer electronics market, from 2017, the global Li-ion battery market is entering a second production capacity expansion cycle, and a large and complete ecosystem will bring many opportunities.
Data presented in the following Infographic highlights some of the key takeaways from our Lithium-Ion Battery Production & Supply – 2019 report which provides a highly detailed database and in-depth analysis of lithium-ion battery production, manufacture and supplier base, with a focus on industrial-grade batteries used for transportation, energy storage and consumer markets.
The Infographic is also available to download in PDF here.
Interact Analysis predicts that the global LIB production capacity will reach 910.4GWh in 2023, with a 5-year CAGR of 22.7%.
If all the production and expansion plans released so far remain on schedule, EMEA’s production capacity will reach 118.7GWh in 2023 with a CAGR of an astonishing 56.0%.
Interact Analysis predicts that the total demand for Li-ion battery will reach 329.2GWh in 2023, growing with a 5-year CAGR of 13.5%.
The demand from energy storage market was only 6.0GWh in 2018, which translates to 3.4%.It is however expected to grow with a CAGR of 40.4% over the next 5 years – the fastest of any application analyzed here.
In 2018, global sales of Li-ion battery used in passenger electric vehicles reached 65.1GWh with a year-on-year increase of 81.0%, China contributed 51.3% to the total market. The North American and European markets also grew rapidly, with year-on-year growth of 82.0% and 40.6%, respectively.
The transportation market (53.7%) surpassed the consumer market (43.3%) for the first time in 2017. It’s expected that the market share for transportation will reach 68.4% in 2023, becoming the market’s main driver of demand.
The average battery price will drop another 30% by 2023, so the penetration rate in price-sensitive applications like electric trucks and off-highway vehicles may soar.
The above analysis is taken from a new Interact Analysis report – Lithium-Ion Battery Production & Supply – 2019. A report produced to help companies understand the fast-growing global lithium-ion battery market, current major application areas and potential growth opportunities. Using both primary and secondary research, the report includes a detailed database of the suppliers of batteries and planned manufacturing plants around the world. The report also presents demand forecasts for lithium-ion batteries based on in-house and third-party data on electric vehicles and grid storage applications. Our analysis of the supply of batteries and demand from the end applications will be able to identify any imbalances and the impact on utilization and pricing.