What is battery assembly?

Herein, the term battery assembly refers to cell, module and pack that are sequentially assembled for EV fields. The individual electrochemical cell can be applied in portable electronics such as cellphones, cameras and laptops [4, 5].

What will China's battery energy storage system look like in 2030?

Battery energy storage systems (BESS) will have a CAGR of 30 percent, and the GWh required to power these applications in 2030 will be comparable to the GWh needed for all applications today. China could account for 45 percent of total Li-ion demand in 2025 and 40 percent in 2030—most battery-chain segments are already mature in that country.

What are the growth opportunities in the battery component market?

This considerable gap between demand for cell components and local supply signals growth opportunities in the battery component market. The global revenue pool of the core cell components is expected to continue growing by around 17 percent a year through 2030 (Exhibit 2).

How many battery factories will be built in 2022?

In total, at least 120 to 150 new battery factories will need to be built between now and 2030 globally. In line with the surging demand for Li-ion batteries across industries, we project that revenues along the entire value chain will increase 5-fold, from about $85 billion in 2022 to over $400 billion in 2030 (Exhibit 2).

Which company has the leading R&D for battery assembly?

Although there are only two companies from Korea to enter the top 10 assignees, they have a total global share of 66.9, 76.3 and 80.9% for cell, module and pack, respectively, indicating that Korean companies have the leading R&D for battery assembly.

What are some recent advances in battery technology?

Some recent advances in battery technologies include increased cell energy density, new active material chemistries such as solid-state batteries, and cell and packaging production technologies, including electrode dry coating and cell-to-pack design (Exhibit 11).