{"id":50088,"date":"2021-07-26T08:00:45","date_gmt":"2021-07-26T06:00:45","guid":{"rendered":"https:\/\/www.vpsolar.com\/?p=50088"},"modified":"2021-12-20T14:05:05","modified_gmt":"2021-12-20T13:05:05","slug":"the-storage-market","status":"publish","type":"post","link":"https:\/\/www.vpsolar.com\/en\/the-storage-market\/","title":{"rendered":"The storage market"},"content":{"rendered":"

The lithium-ion battery market is clearly and indisputably on the rise<\/strong>.<\/p>\n

The major sectors of applications are electric vehicles and energy storage systems<\/strong> for both residential and commercial installations.[vc_row][vc_column width=”2\/3″][vc_column_text]<\/p>\n

Annual growth forecast report<\/h2>\n

Many forecast reports estimate that if the market is in 2019 was worth about<\/strong> 37 billion dollars<\/strong>, by 2030 it could exceed 130 billion<\/strong>, with an annual growth of around 18%.<\/p>\n

North America<\/strong> is the largest market, with around 40% followed by from Asia and the Pacific with around 30% and Europe with around 20%.<\/p>\n

However, it is likely that the growing mismatch between \u00a0demand and supply of raw materials slow the growth of market.[\/vc_column_text][\/vc_column][vc_column width=”1\/3″][vc_single_image image=”60133″ img_size=”full” alignment=”center” onclick=”link_image”][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text]<\/p>\n

Supply chain of components<\/h2>\n

A good part of the supply chain of cobalt-based components<\/strong> is in the hands of Chinese companies:<\/p>\n

    \n
  • from the extraction<\/strong>, mainly in the Democratic Republic of the Congo with over 50%;<\/li>\n
  • to the refining<\/strong> of the mineral and combination with nickel and manganese<\/li>\n
  • assembly<\/strong> of the components.<\/li>\n<\/ul>\n

    [\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”60135″ img_size=”full” alignment=”center” onclick=”link_image”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n

    Asia dominates the world market<\/h2>\n

    Regions of Asia dominate the world market, albeit \u00a0Europe<\/strong> is running for cover with heavy investments for the battery production made Europe.<\/p>\n

    China<\/strong> dominates the production of lithium-ion batteries<\/strong> with a capacity of 72 Gwh and controls 80% of the refining<\/strong> of the \u00a0raw materials, 77% of the world production capacity.<\/p>\n

    Raw materials from Bolivia, Chile, the United States, Australia and China<\/h2>\n

    As for materials, Bolivia<\/strong> is at the top of the \u00a0list \u00a0for the stocks \u00a0followed by Chile<\/strong>, the United States, Australia and China.<\/p>\n

    Thanks to the growth of storage \u00a0systems \u00a0and \u00a0cost cutting, it is estimated that \u00a0by 2040 40% of the\u00a0 power electric<\/strong> will be produced\u00a0 raw from renewable sources and regarding mobility- the 33% of new car registration, will be E-cars.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

    The lithium-ion battery market is clearly and indisputably on the rise. The major sectors of applications are electric vehicles and energy storage systems for both residential and commercial installations.[vc_row][vc_column width=”2\/3″][vc_column_text]<\/p>\n","protected":false},"author":1,"featured_media":50092,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[4990,4992,4993,5197,4991,4544,4989],"class_list":["post-50088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-chinese-companies","tag-cobalt","tag-cobalt-price","tag-energy-systems-4-1","tag-europe-investments","tag-european-commission","tag-storage-market"],"yoast_head":"\nThe storage market<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vpsolar.com\/en\/the-storage-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The storage market\" \/>\n<meta property=\"og:description\" content=\"The lithium-ion battery market is clearly and indisputably on the rise. 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