“Battery electric cars will constitute over 90% of Li-ion demand, by GWh, by 2033,” the report reads. “This will be driven by the increasing adoption of electric vehicles with more stringent emissions targets and goals and as EVs begin to reach cost parity with conventional ICE vehicles.”
IDTechEx’s experts also see significant market opportunities in consumer electronics, electronic devices, and stationary energy storage systems.
“Given the rapid pace of growth, significant investment has been placed on increasing production capacities for Li-ion batteries,” the report states.
“While a significant number of announcements and plans are in place for the development of battery supply chains in Europe and North America, China currently dominates.”
IDTechEx estimates that 70% of Li-ion cells were produced in China in 2021, and though this share is likely to shift to Europe and USA over the next five years, China is…
