Global Battery Market Growth and European Opportunities

This study presents an analysis of the global battery market, highlighting its expected growth and the challenges faced by European manufacturers. The report indicates that global demand for batteries is projected to triple by 2030, potentially reaching between 4.0 and 4.6 terawatt hours. It discusses the competitive landscape, dominated by Asian manufacturers, particularly from China, which are driving down prices due to overcapacity. The study emphasizes the need for European manufacturers to enhance their production capabilities and reduce costs while focusing on sustainability. It outlines potential strategies for European players, including partnerships with Asian firms and innovations in battery production processes to achieve a lower carbon footprint. The report also models three scenarios for future demand, reflecting uncertainties in electric vehicle sales and regulatory developments. Overall, the findings suggest that while challenges exist, there are significant opportunities for European manufacturers to establish a competitive position in the global battery market.