Surge in global demand for batteries by 2030 as number of electric vehicles grow

Global battery demand is expected to surge by 2030, fuelled by the increase in the number of electric vehicles as the world focuses on cutting emissions to reduce global warming.Demand for batteries will reach nine terawatt hours (TWh) annually by 2030, 15 times the levels recorded in 2020, according to a new report from Oslo-based Rystad Energy.The projection comes on the back of increased demand for EVs, as corporations and individuals try to adopt sustainable practices to mitigate the effects of global warming.“Passenger electric vehicles will be the most significant contributor to future battery growth, accounting for about 55 per cent of total demand by the end of the decade,” Rystad said.“Demand for these batteries is expected to hit 4.9 TWh by 2030, more than 13 times higher than 2021’s comparatively tiny total of 373 GWh.”Stationary storage will be the next most…

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