The battery market in Europe is growing: in 2030 production of 789.2 GWh

The market for batteries for electric cars is growing rapidly. China continues to be the benchmark but according to a new report from Benchmark Minerals, theEurope became the fastest growing region in that market. The study highlights that in 2018 the production capacity of the battery cell factories of the Old Continent was estimated to be 120 GWh by 2030, sufficient to produce 2.2 million electric vehicles.

Now, the new report says that projects have been launched that will make it possible to have one in Europe production equal to 789.2 GWh by 2030that is about 6 times more than estimated in 2018. This is a value equal to 14% of the world production of 5,452 GWh, also expected for 2030. For this date, therefore, the production of cells for batteries in the Old Continent it will be enough to support the construction of just under 15 million electric cars.

By the end of 2022, Europe will have 7 lithium-ion battery manufacturers, of which the top five by capacity are:

  • LG Chem (in Poland): 32 GWh
  • Samsung SDI (in Hungary): 20 GWh
  • Northvolt (in Sweden): 16 GWh
  • SK Innovation (in Hungary): 7.5 GWh
  • Envision AESC (in the UK): 1.9 GWh

By 2030 this list will change profoundly because for that date in Europe there should be 27 battery factories from 18 different companies. Also in 2030, 8 of these factories will be built through agreements with car manufacturers such as Volkswagen, Stellantis, Nissan, Volto and Renault.

The report emphasizes the importance of Germany’s Tesla Gigafactory which, as we know, will also produce cells for batteries. Benchmark Minerals says that by 2026 it should reach a production capacity of 75 GWh and then even go up to 125 GWh by 2030. Given these numbers, the report adds that the Berlin Gigafactory is set to become the largest cell factory for batteries in the Old Continent. A plant second only, worldwide, to Tesla’s Gigafactory in Texas.

Northvolt is set to become the second largest battery producer in Europe with 92 GWh. In third place we will find CATL with its 80 GWh project in Erfurt (Germany). According to the report, by 2030 the top 5 producers in Europe will be:

  • Tesla (Germany): 125GWh
  • Northvolt (two in Sweden): 92 GW
  • CATL (Germany): 80 GWh
  • LG Chem (Poland): 67 GWh
  • ACC (Total / Stellantis) (Germany, France, Italy): 64 GWh

It is worth noting that Benchmark Minerals highlights that this report is based on assessments based on current data. The battery market, as we know, is undergoing strong evolution and therefore the projections, in the future, could further change.

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