Global lithium-ion battery capacity could more than triple from 2021 to 5,500 gigawatt-hours (GWh), consulting firm Wood Mackenzie said on Tuesday. It also warned that battery supply will remain tight this year.
The electric vehicle market accounts for nearly 80% of lithium-ion battery demand, and high oil prices have prompted more markets to introduce zero-emission transportation policies, leading to a surge in demand for lithium-ion batteries, which has already been in short supply last year, and battery supply is expected to last until 2023, the report said. years to meet demand.
Battery makers are responding to this growing demand with massive expansion plans, Wood Mackenzie said. The combined capacity of 300 manufacturing plants will exceed 5,500 GWh by 2030. Among them, Chinese manufacturers have announced plans to build more than 3,000 GWh of capacity.
According to Wood Mackenzie, CATL is leading the expansion with outstanding operations and planned production capacity – with a total capacity of 800 GWh by 2030, and other battery makers are also setting aggressive capacity targets for 2025. More new plant launches are expected in 2022, the consultancy added.
