Hello there, here's information from IEA. Some good news for sustainability after all!
Brief review:
The battery industry has experienced significant advancements, marking a new phase characterized by increased demand, reduced prices, and rapid technological progress.
π Surging Demand β Global battery demand surpassed 1 terawatt-hour (TWh) in 2024, driven by a 25% rise in electric car sales (17 million units).
π Production Boom β Global battery production reached 3 TWh in 2024, with capacity projected to triple in the next five years if announced projects are realized.
π Falling Prices β Battery costs dropped significantly due to cheaper raw materials, economies of scale, and technological improvements.
π China's Dominance β China remains the leader in battery manufacturing, but new investments in Europe and the U.S. are aiming to diversify supply chains.
π Supply Chain Shifts β Companies are securing critical mineral supplies and developing recycling technologies to reduce dependency on raw material extraction.
β‘ New Technologies β Advancements in solid-state batteries and other innovations could further enhance energy density, safety, and charging speed.
π Market Oversupply Risks β Some concerns about overcapacity in battery production, which could lead to lower profit margins for manufacturers.
Full review here
Do we have members who are investing in batteries? Do you share this optimism?
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Aya Pariy
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