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Fitch Solutions forecasts nickel demand for EV batteries to grow 29.2% per year to 2030

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Fitch Solutions expects nickel demand for EV battery manufacturing to experience an annual average growth rate of 29.2% This estimate is a significant increase from the market analysis firm’s 2018 forecast, due to upwards revisions in its EV sales forecasts.

Batteries 358
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Juniper Research forecasts on-road hydrogen vehicles to exceed 1M globally by 2027

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A new study from Juniper Research forecasts that the number of hydrogen vehicles in service globally will exceed 1 million in 2027, from just over 60,000 in 2022—substantial growth of more than 1,500%—with the bulk of the deployed vehicles in China and the Far East.

Hydrogen 474
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DOE: EV battery manufacturing capacity in N America in 2030 projected to be nearly 20 times greater than in 2021

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A wave of new planned electric vehicle battery plants will increase North America’s battery manufacturing capacity from 55 Gigawatt-hours per year (GWh/year) in 2021 to 998 GWh/year by 2030, according to the US Department of Energy (DOE).

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IDTechEx forecasts second-life EV battery market to reach US$7B by 2033

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IDTechEx forecasts that the second-life EV battery market will reach US$7B in value by 2033. The second-life EV battery market adds value to future energy infrastructure, creates a circular economy for electric vehicle (EV) batteries, and provides a lower levelized cost of storage compared to new batteries.

Market 195
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Australia forecasts lithium export earnings of $16B in 2022-23, up from $5B in 2021-22

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Australia’s lithium production is forecast to grow from 335,000 tonnes of lithium carbonate equivalent (LCE) in 2021–22 to 399,000 tonnes in 2022–23 and 470,000 tonnes of LCE in 2023–24. In 2022–23 Australia’s export earnings are forecast to more than triple — from $4.9 billion in 2021–22 to $16.1 billion, and $17.0 billion in 2023–24.

Australia 281
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Juniper Research: EV battery pack shipments to reach 30M units in 2027, up from 10M in 2022; led by commercial vehicles

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A new study from Juniper Research forecasts that the volume of electric vehicle battery pack shipments will reach 30 million in 2027 up from 10 million in 2022. Global number of electrified vehicle battery packs shipped in 2027: 30 Million. This includes solid-state batteries and new chemical mixes.

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Albemarle ups lithium demand forecast to 3.7 MMt in 2030, calls for higher prices to support new projects to meet demand gap

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In its 2023 Strategic Update , Albemarle Corporation raised its forecast for 2030 global lithium demand (LCE, lithium carbonate equivalent) to 3.7MMt—an increase of 15% from its previous forecast due to the impact of the US “Inflation Reduction Act” and strong EV demand.

Price 397