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Summary and extracts
1 Market Overview
1.1 Definition and presentation
The term battery refers to a device consisting of one or more electrochemical cells and used to power energy devices. Batteries are used par operate most everyday objects such as cell phones, cars, computers, and watches. There are different types of batteries on the market, distinguished by type, primary and secondary, by application, by size, power, and more. The batteries that dominate the global market are lithium-ion batteries, accounting for 38.32 % of total revenues globally, including its variants, and lead-acid battery, accounting for 48.87 %.
As for the global market, this was worth nearly $112 billion in 2021, and the compound annual growth rate (CAGR) from 2022 to 2030 is 16.68%. This strong growth expected in the coming years is mainly due to the exponential growth in demand in the automotive sector, as well as investment in the expansion and installation of new production facilities to meet the demand for battery cells.
TheItalian market, inline with the global market, has been experiencing strong growth in recent years. However, Italy is not among the most developed countries for lithium battery production, but in recent years large companies have decided to increase the number of gigafactories and invest in the country as well. Italy will have 3 gigafactories in total, one of which is already operational, namely that of the company Faam with a maximum production capacity of 8.3 GWh per year, while other companies such as Itavolt and Automotive Cells Company (ACC) are in planning (there is an in-depth discussion in section 1.3).
In general, the main trend in the battery market that has been observed is the increasing use of lithium-ion batteries. These types of batteries, compared to competitors in the market are more advanced in terms of sustainability. This is why they are supported by numerous incentives especially European ones in a circular economy logic in different sectors. The sector that will focus most on this type of battery in the coming years in Italy as well is the electric car and transportation vehicles.
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Latest news
a new kind of battery capable, he claims, of powering aircraft - 20/04/2023
- CATL's new battery has an energy density of 500 Wh/kg, twice that of the current "Qilin" model, which has an energy density of 255 Wh/kg.
- The "Qilin" battery can propel an electric vehicle 1,000 km on a single charge. The technology used is called "condensed matter battery", and increases the efficiency of lithium-ion without compromising its safety.
- CATL will be launching mass production for the automotive market this year.
- The aviation version of the new battery will be ten times more expensive than the automotive version.
Electric cars: China dominates the battery market - 29/01/2023
- CATL's first investment outside China 1.8 billion euros invested
- Production of lithium-ion battery cells in Erfurt, Germany
- 7 billion investment in second battery plant in Hungary
- Batteries account for around 40% of the value of an electric vehicle
- China now exports more cars than Germany
Batteries: Chinese giant CATL takes advantage of the electric car boom. - 23/06/2022
- The world leader in lithium-ion batteries and supplier to Tesla has raised 45 billion yuan (6.4 billion euros) through a private placement.
- It is neck and neck with South Korea's LG Energy Solution.
- CATL occupies nearly 30% of the world market and more than half of the market in China, giving it powerful economies of scale.
- CATL's market capitalization now approaches 180 billion euros.
- CATL set a new record in December, with a market capitalization of 240 billion euros.
Chinese giant CATL is riding the electric car wave. - 23/06/2022
- CATL, has raised 45 billion yuan (6.4 billion euros) through a private placement with institutional investors.
- The Chinese battery giant is riding the electric vehicle boom.
- CATL reaches a record high in December with a capitalization of 240 billion euros.
- LG Energy Solution raises $10.7 billion in January.
- BYD raises $1.8 billion in Hong Kong in October.
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the battery market | Italy
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