The total annual demand for lithium-ion battery packs used in PHEVs and BEVs is projected to experience substantial growth, surging from approximately 430 GWh in 2022 to roughly 1,500 GWh by 2028, announces Yole Intelligence’s analysts.
This represents a more than threefold increase in demand. The primary driver of this demand will be BEV applications, which are expected to require a battery capacity of 1,370 GWh, constituting 90% of the total market in terms of GWh by 2028.
According to Shalu Agarwal, Ph.D., Senior Analyst specializing in Power Electronics & Batteries at Yole Intelligence, Part of Yole Group: “The overall annual market for Li-ion battery packs designed for BEVs and PHEVs is anticipated to expand from about $70 billion in 2022 to approximately $180 billion by 2028. This market is showcasing a robust 16.9% CAGR during the period.”
In this dynamic context, Yole Intelligence has developed a comprehensive battery pack technology & market report with metrics and forecasts for the automotive market segment. In its new Battery Pack for Automotive 2023 report, the company, part of Yole Group, provides an overview of all battery pack components used in battery electric vehicles, both BEV and PHEV. It also details analyses from cell to the final battery pack, including supply chain analyses, market forecasts, and technology trends for all battery pack components used in the automotive industry…
To read the full story, please click: Battery for automotive: A supply chain dominated by Asian companies
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