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Current Trends

Sixfold Increase in Demand by 2040UK battery demand forecast: from 30 GWh (2025) to 100+ GWh (2030) and nearly 200 GWh (2040)

The Faraday Institution – UK Battery Strategy

China dominates the marketChina undertakes well over half of global raw material processing for lithium and cobalt and has almost 85% of global battery cell production capacity. Europe, the United States and Korea each hold 10% or less of the supply chain for some battery metals and cells today. 

Batteries and Secure Energy Transitions – IEA

Five fold increase in EV sales by 2030The IEA anticipates EVs will account for 40% of light-vehicle sales in 2030, roughly 5× current levels

How have global EV forecasts adjusted to tariffs? | Autovista24

Sixfold increase in demand for materials by 2030Demand for manganese, lithium, graphite and nickel needs to increase by 2030 and nearly 200 GWh in 2040.

Batteries and Secure Energy Transitions – IEA

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