Wood Mackenzie: Global lithium battery production capacity will quadruple within 10 years

Industry research and consulting organization Wood Mackenzie recently released the latest report that it is expected that by 2030, the global lithium battery manufacturing capacity will quadruple from 2019 to 1.3 TWh.
According to Wood Mackenzie’s statistics, the Asia-Pacific region’s lithium battery production capacity ranks first in the world. Lithium battery manufacturers in the region, such as CATL, LG Chem, BYD, and SK Innovation, are leading the world in production capacity; It is the emerging lithium battery manufacturers in Europe, such as Northvolt and ACC.

Mitalee Gupta, senior analyst at Wood Mackenzie, said: “The Asia-Pacific region takes over 80% of the current global lithium battery production capacity. It is expected that in the next 10 years, the Asia-Pacific region will continue to be the leader in lithium battery production. Among them, China will be The leading force in the growth of lithium battery production capacity in the region. It is estimated that by 2030, China’s lithium battery production capacity will rise from 345 GWh this year to over 800 GWh. In addition to local manufacturers, many foreign manufacturers in China, such as LG Chem , Samsung SDI and SK Innovation, etc., will continue to add new production lines."

At the same time, Wood Mackenzie predicts that although the current lithium battery production capacity in Europe only accounts for 7% of the total global production capacity, there is huge potential for improvement in the next few years, and it is expected to account for 25% of the total global production capacity in 2030. This is mainly driven by the growing demand for batteries for electric vehicles and energy storage.

In addition, the proportion of lithium battery production capacity in the Americas in the global market will not change much in the next 10 years. Currently, the region's lithium battery production capacity is mainly concentrated in the United States, led by Tesla's Gigafactory in Nevada.