Lithium-ion EV battery market likely to Exceed 6000 GWh per year by 2030.

And the lithium-ion battery market is expected to exceed 6000 GWH or 6 TWh by 2020, Demand for Electric vehicles were rapidly increasing across the world, forecasts to a report by Benchmark Mineral Intelligence.
The forecast is based on the current plans announced by various battery manufacturers. Here demand and usage of Electric vehicles have increased rapidly and consumption of lithium-ion batteries will increase. Growth in both segments will be very high.
A recent report speaks that the global lithium-ion battery market reached over 1 TWh in the year 2021. For the global passenger Electric vehicle  including BEVs, PHEVs, and HEVs, the battery market doubled closely to 286 GWh as revealed by an Adamas Intelligence report.
The report also shows that a 6 TWh lithium-ion battery capacity can produce around 109 million electric vehicles around the world.
speaking about projection, Simon Moores, CEO of Benchmark mineral Intelligence, said that in reality, it is likely that around 70 percent of the Gigafactories in the pipeline will come into production with average global capacity utilization of 70 percent.
Benchmark Mineral Intelligence also notes that the lithium-ion battery market is not only going to accelerate but would become more localized with lost cost and riskfree trade disruption, may it might be helpful in an Electric vehicle more affordable for buyers.

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