Battery industry revenues to surpass $168 billion by 2030

25 May 2022 CW Team

The battery industry revenues may surpass $168 billion by 2030 but severe global shortages are highly expected from 2025.

The battery industry is set to be one of the most important over the next 10 years. A compound annual growth rate (CAGR) of 14% is anticipated by 2030, mostly driven by lithium-ion battery sales.

However, according to data and analytics company GlobalData, extraction of raw materials will not satisfy soaring demand unless capital markets change course in the face of environmental, social, and governance (ESG) pressures and invest heavily in new mines.

An analyst in the thematic intelligence team, Daniel Clarke, told the media that governments must play a more significant role in incentivising mining, refining, and battery cell production.

The causes for this are two-fold. Firstly, an emerging challenge for the next decade will be whether the natural resources and raw materials extraction such as lithium, cobalt, nickel, and graphite can satisfy the high demand for batteries.

More gigafactories may be declared, but where will all the raw materials come from? Despite being limited, these materials are not rare, and huge investment is required, said Clarke.

Secondly, while much of the world concentrates on today's geopolitical tug of war over energy between Russia and the Western world, a new clean energy geopolitical war is being battled throughout the lithium-ion battery supply chain.

Clarhe told the media that western governments have woken up to their possible weakness versus China, and are heavily and actively incentivising firms to create a regionalised lithium-ion battery supply chain. Lithium is abundant, but significant investment is needed in new hard rock mines to meet robust growing demand.

China has a very strong place in mining, refining, and cell production, with a near-monopoly in different supply chain stages.

China-based battery manufacturer Contemporary Amperex Technology Co Limited (CATL) is part of the 'China Inc master plan' to conquer the highly strategic global battery industry, said analyst Michael Orme.

The government's incentivisation for mining and refining of raw materials is essential to the world fulfilling its climate goals, alongside battery recycling initiatives.

Image Source

Also read: Attero Recycling to invest Rs 300 cr in lithium battery capacity

The battery industry revenues may surpass $168 billion by 2030 but severe global shortages are highly expected from 2025. The battery industry is set to be one of the most important over the next 10 years. A compound annual growth rate (CAGR) of 14% is anticipated by 2030, mostly driven by lithium-ion battery sales. However, according to data and analytics company GlobalData, extraction of raw materials will not satisfy soaring demand unless capital markets change course in the face of environmental, social, and governance (ESG) pressures and invest heavily in new mines. An analyst in the thematic intelligence team, Daniel Clarke, told the media that governments must play a more significant role in incentivising mining, refining, and battery cell production. The causes for this are two-fold. Firstly, an emerging challenge for the next decade will be whether the natural resources and raw materials extraction such as lithium, cobalt, nickel, and graphite can satisfy the high demand for batteries. More gigafactories may be declared, but where will all the raw materials come from? Despite being limited, these materials are not rare, and huge investment is required, said Clarke. Secondly, while much of the world concentrates on today's geopolitical tug of war over energy between Russia and the Western world, a new clean energy geopolitical war is being battled throughout the lithium-ion battery supply chain. Clarhe told the media that western governments have woken up to their possible weakness versus China, and are heavily and actively incentivising firms to create a regionalised lithium-ion battery supply chain. Lithium is abundant, but significant investment is needed in new hard rock mines to meet robust growing demand. China has a very strong place in mining, refining, and cell production, with a near-monopoly in different supply chain stages. China-based battery manufacturer Contemporary Amperex Technology Co Limited (CATL) is part of the 'China Inc master plan' to conquer the highly strategic global battery industry, said analyst Michael Orme. The government's incentivisation for mining and refining of raw materials is essential to the world fulfilling its climate goals, alongside battery recycling initiatives. Image Source Also read: Attero Recycling to invest Rs 300 cr in lithium battery capacity

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..