The battery cell component opportunity in Europe and North A The speed of battery electric vehicle (BEV) uptake—while still not categorically breakneck—is enough to render it one of the fastest-growing segments in the automotive industry. Our projections show more than 200 new battery cell factories will be built by 2030 to keep up with rising demand. Overall, the market for cell components—comprising cathodes and anodes, separators, electrolytes, and cell packaging—is expected to grow by 19 percent per annum until 2030, reaching more than $250 billion.
This rapid growth opens a window of opportunity for cell component suppliers, start-ups, and new entrants, particularly in Europe and North America. Across both regions, industry and governments alike are strongly inclined to nearshore—or bring supply closer to home—in an effort to derisk supply chains and secure control over intellectual property. Despite this opportunity, however, current localized production would need to increase significantly to ensure supply meets demand by 2030."
https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/the-battery-cell-component-opportunity-in-europe-and-north-america?cid=soc-web