{"id":38427,"date":"2024-08-26T05:15:00","date_gmt":"2024-08-26T10:15:00","guid":{"rendered":"https:\/\/latamobility.com\/?p=38427"},"modified":"2024-08-25T10:23:48","modified_gmt":"2024-08-25T15:23:48","slug":"global-battery-sales-to-increase-more-than-3-times-by-2030","status":"publish","type":"post","link":"https:\/\/latamobility.com\/en\/global-battery-sales-to-increase-more-than-3-times-by-2030\/","title":{"rendered":"Global Battery Sales to Increase More than 3 Times by 2030"},"content":{"rendered":"\n<p><strong>Global battery sales<\/strong> for electric vehicles (EVs) will increase 3.7 times by 2030, according to a report by U.S. consulting firm <strong>Bain &amp; Company.<\/strong><\/p>\n\n\n\n<p>In 2023, <strong>10 million of these batteries were sold<\/strong>, a figure that will rise to 37 million within six years, according to the report, \u201cNavigating the Electric Vehicle Battery Ecosystem,\u201d released this month.<\/p>\n\n\n\n<p>Batteries are currently the biggest cost driver for electric car manufacturers and greatly influence the <strong>performance of the final product.<\/strong><\/p>\n\n\n\n<p>In addition, <strong>the supply chain to make them faces a number of hurdles<\/strong>, from the extraction of critical raw materials such as lithium, cobalt and nickel, to battery production and recycling.<\/p>\n\n\n\n<p><strong>You may also read: <a href=\"https:\/\/latamobility.com\/en\/toyota-anticipates-an-increase-in-battery-recycling-demand\/\">Toyota anticipates an increase in battery recycling demand<\/a><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"572\" src=\"https:\/\/latamobility.com\/wp-content\/uploads\/2024\/08\/Bateria-1-1024x572.jpg\" alt=\"\" class=\"wp-image-38423\" srcset=\"https:\/\/latamobility.com\/wp-content\/uploads\/2024\/08\/Bateria-1-1024x572.jpg 1024w, https:\/\/latamobility.com\/wp-content\/uploads\/2024\/08\/Bateria-1-300x168.jpg 300w, https:\/\/latamobility.com\/wp-content\/uploads\/2024\/08\/Bateria-1-768x429.jpg 768w, https:\/\/latamobility.com\/wp-content\/uploads\/2024\/08\/Bateria-1.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-more-data\">More Data<\/h2>\n\n\n\n<p>Despite the difficulties, <strong>lithium-ferrophosphate (LFP) <\/strong>batteries are increasing their share of the global market.<\/p>\n\n\n\n<p>According to Bain &amp; Company, in 2018, such batteries accounted for 25-30% of demand in China, a figure that rose<strong> to 65% last year and will rise to 70% by 2030.<\/strong> Globally, their share will be 40% of the <strong>total by 2030.<\/strong><\/p>\n\n\n\n<p><strong>Outside China, NMC (nickel-manganese-cobalt) technology<\/strong> will continue to be the most widely used technology in the world, with more than 50% of all batteries, according to the consultancy.<\/p>\n\n\n\n<p>The report rules out that <strong>other emerging technologies<\/strong>, such as solid-state and high-density sodium-ion batteries will develop at speed, as they are still in the prototype and pilot manufacturing stages.<\/p>\n\n\n\n<p>Therefore, their share could be in the single digits by 2030.<strong> Bain &amp; Company considered that,<\/strong> in the United States and the <strong>European Union, LFP <\/strong>batteries will gain market share but will never be dominant, because of import tariffs with China and because domestic LFP production is almost non-existent, reducing their cost advantages.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global battery sales for electric vehicles (EVs) will increase 3.7 times by 2030, according to a report by U.S. consulting firm Bain &amp; Company. In 2023, 10 million of these batteries were sold, a figure that will rise to 37 million within six years, according to the report, \u201cNavigating the Electric Vehicle Battery Ecosystem,\u201d released&#8230;<\/p>\n","protected":false},"author":8,"featured_media":38421,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[2054],"tags":[1648],"class_list":["post-38427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-electric-mobility","tag-battery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.7 (Yoast SEO v25.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Global Battery Sales to Increase More than 3 Times by 2030 - Latam Mobility<\/title>\n<meta name=\"description\" content=\"Global battery sales for electric vehicles (EVs) will increase 3.7 times by 2030, according to a report by U.S. consulting firm Bain &amp; Company. 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