Battery industry statistics show a rapidly expanding market shaped by electric vehicles, grid storage, manufacturing investment and mineral supply. In 2024, the global battery market was estimated at about USD 130 billion, while electric vehicles represented around three-quarters of battery demand.
Key Battery Industry Statistics
The most useful headline figures span market size, demand, production, chemistry, materials and technology:
- About USD 130 billion was the estimated value of the global battery market in 2024.
- Around 75% of global battery demand came from electric vehicles in 2024.
- 15% of global battery demand came from battery-energy-storage systems in 2024.
- More than 2,000 GWh of lithium-ion capacity was added worldwide over the five years through 2023.
- USD 150 billion of combined investment reached global EV-battery and battery-storage sectors in 2023.
- More than 950 GWh of EV battery demand was recorded globally in 2024.
- Global EV battery demand grew 25% between 2023 and 2024.
- More than 85% of global EV battery demand came from electric cars in 2024.
- Global battery-cell manufacturing capacity exceeded 3 TWh in 2024.
- About 85% of global battery manufacturing capacity was located in China in 2024.
- More than 40% of global EV battery capacity used LFP chemistry in 2023.
- About two-thirds of EV sales in China used LFP chemistry in 2023.
- Around 140 kt of lithium was demanded by batteries globally in 2023.
- Around 370 kt of nickel was demanded by batteries globally in 2023.
- The sales-weighted range of battery-electric cars grew nearly 75% between 2015 and 2023 globally.
- About 90% of total battery demand was expected to come from electric cars and vans in both IEA 2030 outlook scenarios.
Contents
- Global battery market size, demand and investment
- Electric-vehicle battery demand by mode and region
- Battery manufacturing capacity, utilisation and trade
- Battery chemistry trends: LFP, NMC and sodium-ion
- Battery minerals and supply-chain data
- Battery prices, performance and outlooks
Global Battery Market Size, Demand and Investment
The IEA estimated the global battery market at about USD 130 billion in 2024. This broad market-value estimate includes battery applications across the industry, so it is not equivalent to EV-battery manufacturing revenue alone. IEA, “How can innovation help secure future battery markets and mineral supplies?”
In the same 2024 estimate, electric vehicles accounted for around 75% of global battery demand and battery-energy-storage systems accounted for 15%. Those are demand shares, not shares of market revenue. IEA, “How can innovation help secure future battery markets and mineral supplies?”
| Measure | Period and geography | Statistic |
|---|---|---|
| Lithium-ion capacity added | Five years through 2023, worldwide | More than 2,000 GWh |
| EVs and storage supported | Five years through 2023, worldwide | About 40 million EVs and thousands of storage projects |
| EV-battery and storage investment | 2023, global | USD 150 billion |
| Average battery-cost change | 2010–2023 report period, global lithium-ion batteries | 90% decline |
The more than 2,000 GWh added over the five years through 2023 was attributed to capacity powering about 40 million electric vehicles and thousands of battery-storage projects. Combined investment in the global EV-battery and storage sectors reached USD 150 billion in 2023, while average battery costs fell 90% between 2010 and the latest period reported by the IEA. IEA, “Batteries and Secure Energy Transitions: Status of battery demand and supply”
The cost comparison is an IEA estimate rather than a uniform price series: chemistry, cell-versus-pack scope and nominal currency treatment are not necessarily identical across all applications.
Electric-Vehicle Battery Demand by Mode and Region
Energy-sector battery demand, covering EV batteries and storage but excluding other battery uses, reached 1 TWh globally in 2024. EV battery demand exceeded 950 GWh, was 25% higher than in 2023, and was calculated from installed batteries in vehicles sold rather than stockpiled inventory. IEA, “Global EV Outlook 2025: Electric vehicle batteries”
| EV mode or comparison | Period and geography | Result |
|---|---|---|
| Electric cars | 2024, global EV market | More than 85% of EV battery demand |
| Electric trucks | 2023–2024, global | Battery demand grew more than 75% |
| Electric trucks | 2024, global EV market | Nearly 3% of EV battery demand |
| Average EV battery size | 2024, United States versus European Union | US size approximately 25% larger |
| Emerging and developing economies excluding China | 2024, global comparison | Nearly 5% of global battery demand |
Electric cars therefore dominated global EV battery demand in 2024, while truck demand grew rapidly from a smaller base. The average battery size per EV in the United States was approximately 25% larger than in the European Union, a battery-size comparison rather than a direct vehicle-range comparison. IEA, “Global EV Outlook 2025: Electric vehicle batteries”
Europe produced 110 GWh of EV batteries in 2023, enough for an estimated 2.5 million EV-equivalents. The United States produced 70 GWh, equivalent to about 1.2 million EVs; these are production-equivalent estimates, not registration totals. IEA, “Global EV Outlook 2024: Trends in electric-vehicle batteries”
Battery Manufacturing Capacity, Utilisation and Trade
Global battery-cell manufacturing capacity grew almost 30% between 2023 and 2024 and exceeded 3 TWh in 2024. On the IEA’s definitions, global nameplate capacity was about three times combined EV and battery-storage demand, a capacity-to-demand comparison rather than a utilisation rate. IEA, “Global EV Outlook 2025: Electric vehicle batteries”
| Manufacturing measure | Period and geography | Statistic |
|---|---|---|
| China capacity share | 2024, capacity located in China | About 85% of global capacity |
| Chinese-producer ownership | 2024, worldwide | More than 75% of global capacity |
| US cell capacity growth | 2023–2024, United States | Almost 50% |
| Korean contribution to US growth | 2024, United States | Nearly 70% of annual growth |
| EU capacity growth | 2023–2024, European Union | 10% |
| New Indian plants | 2024, India | More than 5 GWh/year combined |
| New Indonesian plants | 2024, Indonesia | More than 10 GWh/year combined |
China held about 85% of global battery manufacturing capacity in 2024, while Chinese producers owned more than 75% of capacity worldwide. These measures distinguish where capacity is located from ownership of capacity. IEA, “Global EV Outlook 2025: Electric vehicle batteries”
Utilisation data also show why nameplate capacity should not be read as output. In 2023, China used less than 40% of its maximum cell output excluding portable electronics; the maximum-output estimate assumes an average 85% utilisation factor. IEA, “Global EV Outlook 2024: Trends in electric-vehicle batteries”
China’s installed cathode-active-material capacity was almost four times global EV cell demand in 2023, while installed anode-active-material capacity was about nine times global EV cell demand. Both are capacity-demand comparisons, not measures of actual production. IEA, “Global EV Outlook 2024: Trends in electric-vehicle batteries”
Battery Chemistry Trends: LFP, NMC and Sodium-Ion
LFP supplied more than 40% of global EV demand by battery capacity in 2023. The cited chemistry calculation excludes two- and three-wheelers and uses assumptions for truck and bus chemistry, so it should not be compared directly with every vehicle-sales share. IEA, “Global EV Outlook 2024: Trends in electric-vehicle batteries”
| Chemistry measure | Period and geography | Statistic |
|---|---|---|
| LFP share of EV battery capacity | 2023, global EV market | More than 40% |
| LFP share of EV sales | 2023, China | About two-thirds |
| LFP share of EV sales | 2023, Europe | Below 10% |
| LFP share of EV sales | 2023, United States | Below 10% |
| NMC premium over LFP | 2023, modelled chemistry-equivalent prices | Less than 25% |
| NMC premium over LFP | 2021, historical modelled comparison | 50% |
About two-thirds of EV sales in China used LFP chemistry in 2023, while LFP remained below 10% of EV sales in both Europe and the United States. Those regional figures are sales shares; the global LFP figure above is a battery-capacity share. IEA, “Global EV Outlook 2024: Trends in electric-vehicle batteries”
NMC batteries were less than 25% more expensive than LFP equivalents in 2023, compared with a 50% premium in the 2021 historical comparison. Sodium-ion batteries could cost up to 20% less than incumbent technologies if scaled, but that is a conditional estimate depending on scale, chemistry and lithium prices. IEA, “Global EV Outlook 2024: Trends in electric-vehicle batteries”
Battery Minerals and Supply-Chain Data
Battery-material demand was substantial in 2023, but the figures below describe material demand rather than mined production. Batteries accounted for 85% of lithium demand, 70% of cobalt demand and more than 10% of nickel demand globally. IEA, “Global EV Outlook 2024: Trends in electric-vehicle batteries”
| Material | Battery demand in 2023 | Share of total demand | Growth from 2022 to 2023 |
|---|---|---|---|
| Lithium | Around 140 kt | 85% | More than 30% |
| Cobalt | 150 kt | 70% | 15% |
| Nickel | Almost 370 kt | More than 10% | Nearly 30% |
Supply exceeded demand for several battery minerals in 2023: cobalt by 6.5%, nickel by 8% and lithium by more than 10%. These are estimated global supply-demand balances, not guarantees of availability for every region or manufacturer. IEA, “Global EV Outlook 2024: Trends in electric-vehicle batteries”
China’s installed capacity represented nearly 90% of global cathode-active-material capacity and more than 97% of global anode-active-material capacity in the 2023/2024 report period. The measures refer to installed capacity, not output. IEA, “Global EV Outlook 2024: Trends in electric-vehicle batteries”
Battery Prices, Performance and Outlooks
Battery technology has improved alongside falling costs. The sales-weighted average range of battery-electric cars grew nearly 75% globally between 2015 and 2023, although the result varies by vehicle segment. IEA, “Global EV Outlook 2024: Trends in electric-vehicle batteries”
The latest sodium-ion generation in the IEA’s 2026 report could retain around 90% of nominal capacity at temperatures as low as −40°C and operate at temperatures as high as 70°C. These are technology-performance claims for the latest generation, not an industry-wide fleet average; actual limits depend on design and conditions. IEA, “Global EV Outlook 2026: Electric vehicle batteries”
| Outlook or performance measure | Period and scope | Statistic |
|---|---|---|
| Electric cars and vans’ share of battery demand | 2030, both IEA outlook scenarios | About 90% |
| Sodium-ion capacity retention | Latest generation, 2026 report | Around 90% at −40°C |
| Sodium-ion upper operating temperature | Latest generation, 2026 report | Up to 70°C |
| Battery-electric car range | 2015–2023, global | Nearly 75% growth |
The IEA’s 2030 outlook scenarios expected electric cars and vans to account for about 90% of total battery demand in both scenarios. This is a conditional scenario projection from the Global EV Outlook 2023, not an observed result. IEA, “Global EV Outlook 2023: Prospects for electric vehicle deployment”
Across these measures, the central distinction is between observed production or demand, estimates based on models or reported capacity, and conditional forecasts. Battery-demand figures generally describe the volume-weighted average battery size multiplied by vehicle sales, exclude stockpiling, and should not be interpreted as factory output unless explicitly labelled capacity or production.