Clean Battery Solutions for a Better Planet
Lower Cost Solutions Accelerate Battery Demand Across Markets
Global Battery Demand Expected to Reach ~5,300 GWh by 2030
GWh installed/year
CAGR, 2020-30
5,292
Total
Passenger Vehicles
37%
Energy System Storage
44%
Commercial Vehicles
41%
Other
13%
32%
365
388
4,264
670
3,402
2,622
1,926
3,869
1,410
214
1,068
829
193
590
196
406
191
228
241
806
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
Note: The indicated outlook should not be construed as estimates or guidance for future developments of the Company
1) Includes an increased adoption of ESS systems with a lower cost offering similar to the Company
FREYR
Clean battery solutions
Other
Commercial Vehicles
Energy System Storage 1)
Passenger Vehicles
Source: Study commissioned from global management consultancy
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