2040 energy storage battery demand

How much energy does a battery use in 2040?

Fifth, on a global level, the energy consumption in 2040 for battery cell production will be 130,000 GWh prod, with today’s technology and know-how level, which is equal to the annual electric energy demand of Norway or Sweden (in 2021) 36).

Will battery capacity increase in 2040?

In our study, the predictions for future battery capacity in 2040 are based on the increasing average battery capacity from before 2020 and after 2020. If no increase was identified, a percentage increase of 30% was assumed for 2040.

How many GWh will battery cells produce in 2040?

In the SSP1 (sustainable) scenario, the demand for battery cells could reach 10,000 GWh in 2040, and in the SSP5 scenario (fossil-fuelled), battery cell demand will reach only approximately 2,900 GWh (refs. 10, 12).

Will EV battery demand grow in 2040?

In the SDS, the transport sector sees battery demand from EVs grow by nearly 40 times between 2020 (160 GWh) and 2040 (6200 GWh). The base case chemistry assumptions project a shift away from cobalt-rich chemistries.

What is the Global Capacity Demand for EVs in 2040?

Estimation of the global capacity demand of EVs in 2040. A high increase in vehicle registrations is expected for the SSP1 scenario. Therefore, a high global capacity demand in SSP1 with a total of 6700 GWh is expected in 2040.

Where will battery demand be in 2035?

In the STEPS, China, Europe and the United States account for just under 85% of the market in 2030 and just over 80% in 2035, down from 90% today. In the APS, nearly 25% of battery demand is outside today’s major markets in 2030, particularly as a result of greater demand in India, Southeast Asia, South America, Mexico and Japan.