A new study on the global lithium-ion batteries market forecasts a 10.7% increase in revenue generation between 2017 and 2028.
Revenue is expected to increase from $25 billion in 2017, $78 billion in 2018 to reach $78 billion in 2028.
Market trends will include:
- Massive growth in major markets, particularly in Asia on both demand and supply sides.
- The market will be underpinned by disruptive technologies such as electric vehicles, smart grid storage, data centres etc.
- Raw materials and government support will drive the growth of lithium-ion batteries market.
- The market is consolidated, but some companies need to optimise their business or will face the exit. The supply chain will be further tightened, while research and innovations will be synergised between battery producers and end-users.
- The average cost of a lithium-ion battery pack is to decline from $185/kWh in 2017 to around $80/kWh in 2028.
The report 'A Strategic Outlook for the Global Lithium-ion Batteries Market to 2028’ was conducted by Commodity Inside and can be accessed here...