In 2035, Small-Size LIB Demand Expected to Be 1.3TWh
In 2035, small-size LIB demand is expected to be 1.3TWh (1TWh = 1,000GWh). The biggest demand is expected to come from xEV, which accounts for approximately 1TWh.
According to the report <2024> Global LIB Mid/Long-term Outlook by Application published by SNE Research, a leading market research and consulting firm in the LIB industry on May 20, total demand for small-size LIB in 2035 is forecasted to be 1,326.5GWh. The demand forecast includes small-size battery installed to xEV and energy storage system (ESS).
If we compare the market size by specific applications, LIB demand for xEV accounts for 82.5%. Small-size LIBs used for xEV are cylindrical cells of which representative products are those for Tesla. Panasonic and LG Energy Solution are currently suppliers of small-size LIB for xEV made by Tesla.
E-Mobility is where the next biggest demand comes from, following xEV. The E-mobility sector, including E-bike and two / three-wheelers is expected to have demand for LIB reaching approximately 80GWh in 2035, accounting for 6% of the entire LIB demand.
The ESS sector is projected to require 39GWh of demand for small-size LIB in 2035. The sector is expected to take up 2.9% of the entire demand, ranked 3rd. Same as xEV, cylindrical battery is used for ESS. Later, it is expected that ESS with small-size pouch cells installed would appear in the industry.
“The LIB market for IT applications such as smartphones and laptops is expected to see a relatively slow growth. Along with a high growth in two/three-wheelers and wearables markets, new small-size LIB applications such as unmanned drones are anticipated to lead to a growth in the small-size LIB market,” says SNE Research.
