Batteries – Thematic Intelligence

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Batteries Thematic Report Overview

Batteries are critical facilitators of many other technologies. They are integral to modern mobile internet, electric cars, and the initial adoption of intermittent renewable power storage and generation. Batteries are clean technology that will likely be critical to the energy transition in the future. They are poised to become one of the world’s most significant industries over the next 10 years given stored energy’s accelerating and expanding role in tackling climate change.

The Batteries thematic intelligence report provides an overview of the current landscape, including technology, macroeconomic, and regulatory trends, as well as key players. The report provides an industry-specific analysis based on GlobalData databases and surveys.

Report Pages 61
Regions Covered Global
Value Chain ·        Raw Materials

·        Refining and Processing

·        Component Makers

·        Battery Technologies

·        End Markets

·        End of Life

Key Companies ·        BYD

·        Contemporary Amperex Technology (CATL)

·        Tesla

·        Northvolt

·        Panasonic

·        LG Energy Solution

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Batteries – Key Trends

The main trends shaping the batteries industry theme over the next 12 to 24 months are technology trends, macroeconomic trends, and regulatory trends.

  • Technology trends: Some of the key technology trends impacting the batteries theme are the dominance of lithium batteries, the search among cell makers and their component suppliers for more effective materials and chemical mixes, the silicon and graphene revolution,the development of sodium-ion batteries as a cheaper, if less power-dense, alternative to Li-ion batteries and the availability of battery alternatives such as ultracapacitors and hydrogen fuel cells.
  • Macroeconomic trends: Rising demand for batteries from the EV industry, battery recycling, the geopolitical battery arms race,and growing focus on ESG are some of the key macroeconomic trends impacting the batteries’
  • Regulatory trends: Norway’s investment to be the EU’s battery hub, COP27 fallout, and Graphite tariffs are some of the regulatory trends impacting batteries.

Batteries – Industry Analysis

An energy conversion mega-trend is forming, and a high-growth, high-profile, and mission-critical global battery industry is emerging with it. Most of the growth in battery industry revenues will come from Li-ion batteries for automotive end uses. The Li-ion battery industry was valued at $88.6 billion in 2022. It is expected to grow at a compound annual growth rate (CAGR) of more than 12% during 2022-2035. Revenues from sales of Li-ion batteries for mobility end uses will drive much of the expansion, alongside considerable YoY growth in consumer electronics and energy storage.

The Batteries industry analysis also covers:

  • Timeline
  • Signals
    • M&A trends
    • Venture financing trends
    • Patent trends
    • Hiring trends
    • Social media trends

Global Batteries Revenue by Product, 2017-2035 (%)

Global Batteries Revenue by Product, 2017-2035 (%)

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Batteries - Value Chain Analysis

The batteries value chain is split into raw materials, refining and processing, component makers, battery technologies, end markets, and end of life.

Raw materials: Natural resources and raw materials are fundamental to technological development. Lithium, cobalt, nickel, aluminum, cadmium, and zinc are among the most common metals used. The emerging challenge for the next decade will be whether extraction can meet soaring demand. The mining industry has always been speculative, chronically cyclical, and subject to bouts of over- and under-investment. There will be a dearth of investment for key battery material extraction until capital markets come in from the cold and unless—or until—the mining sector becomes strongly bid in global equity markets. This will create supply bottlenecks and price rises.

Batteries Value Chain Analysis

Batteries Value Chain Analysis

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Batteries - Competitive Landscape

Some of the leading players associated with this theme are:

  • BYD
  • Contemporary Amperex Technology (CATL)
  • Tesla
  • Northvolt
  • Panasonic
  • LG Energy Solution

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Component Makers Sector Scorecard

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecard has three screens: a thematic screen, a valuation screen, and a risk screen.

  • The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
  • The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
  • The risk screen ranks companies within a particular sector based on overall investment risk.

Component Makers Sector Scorecard – Thematic Screen

Component Makers Sector Scorecard – Thematic Screen

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  • This report provides an overview of the batteries theme.
  • It identifies the key trends impacting the growth of the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends.
  • It includes an analysis of multiple data sets, including patents and M&A trends, alongside a timeline highlighting milestones in the development of the batteries.
  • The detailed value chain discusses the core segments, including raw materials, smelting and refining, component makers, battery technologies, end markets, and end-of-life.

Key Highlights

  • As governments worldwide get serious about decarbonizing their economies, demand for cheap, safe, high-performance, long-lasting, and low-carbon-footprint batteries will soar, most notably from the automotive industry. Consequently, supply chain bottlenecks will materialize over the next decade. The lack of low-cost, easy-to-purify raw materials to feed the world’s existing and planned battery giga-factories is the biggest threat to supply security. Moreover, the decline in investment in crucial mineral mines—coupled with the growing importance of environmental, social, and governance (ESG) factors—will restrict the development of new capacity.
  • There will likely be a severe but temporary global battery shortage by 2025 due to a sharp increase in demand for electric vehicles (EVs) and a shortage of mined and refined battery metals. However, the industry is investing heavily to prevent this from becoming a sustained threat by reducing its use of scarce materials, developing new materials and battery technologies, and, most importantly, creating a global battery recycling industry.
  • Meanwhile, China’s control of the entire global supply chain, from mines and refiners to component markers and cell producers, is a mounting geopolitical issue. The US and Europe are taking significant steps to reduce the dependence on China within their battery supply chains by 2030. Battery recycling is as much about geopolitics as it is about environmental sustainability. The circular battery economy will be critical to the energy transition, and nations (and companies) must develop domestic recycling.

Reasons to Buy

  • Batteries are sources of power, but they are also critical facilitators of many other technologies. They are integral to modern mobile lifestyles and the mass production of electric vehicles (EVs). Battery and energy storage technologies will be foundational in transitioning to renewable energy. This report provides an invaluable overview of the battery theme, its challenges, and its potential impacts.

African Rainbow Minerals
Air Products
American Battery Technology
Anglo American
Antora Energy
Arcelor Mittal
Asahi Kasei
Bloom Energy
BTR New Materials
Canada Cobalt
Cangzhou Mingzhu Plastic
Ceres Power
Changan Automobile
Chengxin Lithium (Sichuan Zhiyuan)
Chubu Electric
Daikin Industries
Daimler (Mercedes Benz)
Duke Energy
East Penn Manufacturing
Électricité de France
Entek International
Factorial Energy
First Quantum Minerals
Fortescue Metals
Freeport McMoRan
Fuel Cell Energy
Ganfeng Lithium
General Motors
Group 14
Grupo México
GS Yuasa
Guangdong Kaijin
Guangzhou Great Power
Guangzhou Tinci
Hitachi Chemical
Hunan Zhongke Shinzoom
Ion Storage Systems
Ionic Materials
Ivanhoe Mines
Jiangxi Zichen
Johnson Matthey
Jupiter Mines
Kansai Electric
Leading Edge Materials
Leoch International Technology
LG Energy Solution
Lilac Solutions
Lithion Recycling
Lithium Americas
Maxwell Technologies (UCAP Power)
Mitra Chem
Mitsubishi Chemical
Mitsubishi Electric
Mitsubishi Motors
Morrow Batteries
Nacional de Grafite Limitida
NEC Tokin
NGK Insulators
Ningbo Shanshan
Nippon Chem
Northern Graphite
Our Next Energy
Pacific Gas & Electric
Putailai (Jiangxi Zichen)
Redwood Materials
Retriev Technologies
Rio Tinto
Rondo Energy
SAIC Motor
Samsung Electronics
Samsung SDI
Shangtai Technology
Shanshan Group
Shenzhen Capchem Technology
Shenzhen Nova
Shin Etsu
Showa Denko Materials
Sila Nanotechnologies
Sila Technologies
SK Group (SK On)
SK IE Technology
Skeleton Technologies
Solid Power
Syrah Resources
Talga Resources
Tianjin Lishen Battery
Tianqi Lithium
Toda Kogyo
Toray Industries
Tsingshan Holding
Wildcat Discovery Technologies
Xizi Clean Energy
XTC New Energy
Zhangjiagang Guotai-Huarong Chemical New Materials
Zijin Mining

Table of Contents

  • 1. Executive Summary
  • 2. Players
  • 3. Technology Briefing
  • 4. Trends

    • 4.1. Technology trends
    • 4.2. Macroeconomic trends
    • 4.3. Regulatory trends

  • 5. Industry Analysis

    • 5.1. Market size and growth forecasts
    • 5.2. Timeline

  • 6. Signals

    • 6.1. M&A trends
    • 6.2. Venture financing trends
    • 6.3. Patent trends
    • 6.4. Hiring trends
    • 6.5. Social media trends

  • 7. Value Chain

    • 7.1. Raw materials
    • 7.2. Smelting and refining
    • 7.3. Component makers
    • 7.4. Battery technologies
    • 7.5. End markets
    • 7.6. End of life

  • 8. Companies
  • 9. Sector Scorecard

    • 9.1. Component makers sector scorecard

  • 10. Glossary
  • 11. Further Reading
  • 12. Our Thematic Research Methodology
  • 13. About GlobalData
  • 14. Contact Us

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