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Energy
September 28, 2023

How the global battery industry will adapt to the exploding requirements of the automotive and energy storage sectors

Global Battery Market Forecast to 2040

The global battery industry is set to grow from 550 GWh in 2022 to 7,782 GWh in 2040, largely off the back of the passenger electric vehicle market’s rapid electrification in Europe, China, and the US. Battery companies and automotive OEMs will need to adapt to this challenge through the adoption of the appropriate technology for their industries, having to make strategic choices which will affect their product pipelines for years to come.

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Rethink Energy forecasts the changing energy landscape and its investment possibilities, as renewables begin to take over from conventional fossil fuels