McKinsey forecasts demand of 4.7 TWh of Li-ion battery in 2030

McKinsey Battery Insights predicts that demand for lithium-ion (Li-ion) batteries would increase to approximately 4.7 TWh by 2030, up from 700 GWh in 2022. According to the consulting firm, between 120 and 150 new battery factories will be required worldwide by the end of the decade.

In 2030, the mobility sector will account for approximately 4.3 TWh of this demand.

China will account for 45% of global Li-ion demand in 2025 and 40% in 2030, as its battery-chain segments reach maturity. However, the European Union and the US will experience rapid development, driven by recent regulatory changes and a broader push to localize supply chains.