Driving forces in the automotive battery sector: a spotlight on key industry players, expansion strategies, and sustainability initiatives.
OUTLINE
The total annual market for Li-ion battery packs for BEV and PHEV will grow to about
A battery cell supply chain primarily led by Asian players:
In the coming years, there will be a growing need to recycle tons of end-of-life xEV battery packs.
The total annual demand for lithium-ion battery packs used in PHEVs and BEVs is projected to experience substantial growth, surging from approximately 430 GWh in 2022 to roughly 1,500 GWh by 2028, announces Yole Intelligence's analysts.
This represents a more than threefold increase in demand. The primary driver of this demand will be BEV applications, which are expected to require a battery capacity of 1,370 GWh, constituting 90% of the total market in terms of GWh by 2028.
Shalu_AGARWAL-SAG_YINT
Senior Analyst specializing in
'The overall annual market for Li-ion battery packs designed for BEVs and PHEVs is anticipated to expand from about
In this dynamic context, Yole Intelligence has developed a comprehensive battery pack technology & market report with metrics and forecasts for the automotive market segment. In its new Battery Pack for Automotive 2023 report, the company, part of
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Thematic(s) :
'Currently, the global production of Li-ion batteries is predominantly led by Asian companies, with
Battery production capacity is rapidly expanding, with manufacturers announcing expansion plans, particularly in regions with xEV manufacturing facilities. Many Chinese players, including BYD, CATL, Gotion, and EVE, plan to increase capacity in countries like
The relationship between car OEMs and cell suppliers is complex and often involves multiple partnerships. Vertical integration in battery manufacturing is increasing for cost efficiency and supply security reasons. Both cell makers and automakers are seeking strategic deals with raw material mining companies to secure their supply chains.
Low cobalt-content batteries like NMC 811 and cobalt-free LFP batteries are highly sought-after cell chemistries. Initially used by Chinese companies, LFP cells are now adopted by various global automakers. The trend is shifting towards a cell-to-pack approach to enhance energy density and reduce weight in battery packs, with some companies like Tesla, BYD, and Leap Motor integrating cells directly into the vehicle chassis.
Battery recycling has become a strategic focus for many battery manufacturers and car OEMs. Players are venturing into the recycling sector through subsidiaries, in-house processes, partnerships, or joint ventures with battery recyclers.
For example, Yole SystemPlus, part of
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