Will the global battery market grow in 2024-2025?
We estimate the global battery market will see 30%-40% annual growth in 2024-2025, mainly supported by our anticipated sales growth of electric vehicles (EVs) in China. Fading EV subsidies in Europe and less aggressive emission standard targets in U.S. could moderate EV sales and battery demand growth in these regions during the period.
Why did the EV battery installation-to-production ratio decline in 2024?
The EV battery installation-to-production ratio declined to 47% in 2024 first half, compared with 70% in 2021, as EV demand growth slowed and battery production rose. China's crowded market has weakened pricing power in the industry.
Why is battery cost lower in China than in Europe?
We estimate battery cost in China will remain at least 30% lower than locally produced batteries in Europe during the period. This is mainly due to cheaper material processing/refining costs and lower labor and manufacturing costs in China. Market share in terms of estimated demand. e--Estimate. Sources: S&P Global Ratings, S&P Global Mobility.
How will CATL's growth impact the EV market in 2024-2025?
Sources: Companies’ announcements, S&P Global Ratings. CATL will likely expand annual sales volume by 10%-21% over 2024-2025. Drivers include the growing EV market in China, with some production gradually expanding to Europe. This will mitigate the impact of lower battery prices and support 3%-7% annual revenue growth over this year and the next.
How will China's energy storage capacity grow in 2023?
Ahead and heading into a new era for new energy, it is expected that China’s energy storage capacity and its BESS capacity in particular will grow at a CAGR rate of 44% between 2023 and 2027. Finally, BESS development financing globally thus far has stemmed from various sources: funds, corporate funds, institutional investors, or bank financing.
When will solid state battery (SSB) become a revolutionary technology?
We expect solid state battery (SSB) will be a revolutionary technology. This is because SSB has high energy density, lower pack component costs, and reduced flammability. Some battery players are targeting to mass produce SSB as early as 2026. That said, we anticipate the market share of SSB will remain less than 2% until 2030.
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Resilient Supply Chains in the Battery Industry
Battery Industry Publication of the accompanying research on battery cell production on behalf of the ... VDI/VDE-IT, Anne-Sophie Piehl Berlin, March 2023 Image Credits Cover page: j-mel/AdobeStock | 1 ... Worldwide exports of goods accounted for more than one-fifth of the global gross domestic product (GDP) in 2020.1 This enormous magnitude of ...
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