Lithium fell to 72,950 CNY/T on July 30, 2025, down 0.27% from the previous day. Over the past month, Lithium's price has risen 19.00%, but it is still 10.49% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Lithium - values, historical data, forecasts and news - updated on July of 2025.

In 2022, the average price of battery-grade lithium carbonate stood at ****** U.S. dollars per metric ton. This figure is by far the highest price for battery-grade lithium carbonate recorded in the period of consideration. For 2024, lithium carbonate price was estimated at ****** U.S. dollars per metric ton. Lithium is a highly reactive soft and silvery-white alkali metal. As the third element in the periodic table, it cannot be found in its pure form in nature. Lithium is the least dense of solid elements and the lightest out of all metals. Lithium and batteries One of lithium’s most well-known end uses is in lithium-ion batteries. Lithium-ion batteries are rechargeable and mostly used in portable electronics and electronic vehicles. In lithium-ion batteries, the lithium ions move from the negative electrode to positive electrode while in use, and the process is reversed while charging. These batteries are highly flammable but are also low-maintenance. They have a high energy density and a low self-discharge. Some drawbacks include the fact that they are expensive to manufacture, and that they require protection circuits to maintain the voltage safely. Lithium-ion batteries are also the single-largest end use of lithium, amounting to an ** percent share of global lithium consumption in 2024. Lithium demand forecasts Looking to the future, lithium demand is forecast to stand at *** million tons by 2025. This growth will be mainly driven by lithium-ion battery demand for electric vehicles. Demand is expected to remain the highest in China, which will consistently account for half of global lithium-ion battery demand.

Lithium Market Outlook

According to our latest research, the global lithium market size reached USD 8.4 billion in 2024, reflecting robust demand across energy storage, automotive, and consumer electronics sectors. The market is demonstrating a strong growth trajectory with a CAGR of 13.5% from 2025 to 2033. By 2033, the lithium market is forecasted to reach approximately USD 25.3 billion, driven by the accelerating adoption of electric vehicles (EVs), expansion of renewable energy storage solutions, and technological advancements in battery chemistry. This surge is underpinned by increasing investments in clean energy infrastructure and a global push towards carbon neutrality.

The primary growth driver for the lithium market is the exponential rise in electric vehicle production worldwide. As governments enforce stricter emission regulations and consumers shift preferences towards sustainable mobility, automakers are ramping up EV manufacturing. This, in turn, is fueling demand for lithium-ion batteries, which are the heart of EV powertrains. Furthermore, leading automotive manufacturers are forging strategic alliances and long-term supply agreements with lithium producers to secure raw material access, ensuring supply chain stability and price predictability. The integration of lithium batteries in hybrid vehicles and plug-in hybrids further expands the addressable market, making lithium indispensable for the future of mobility.

Another significant growth factor is the rapid expansion of renewable energy storage systems. With the proliferation of solar and wind installations, the need for efficient, high-capacity energy storage has become paramount. Lithium-ion batteries have emerged as the preferred solution due to their high energy density, long cycle life, and declining cost curve. Governments and private enterprises are investing heavily in grid-scale battery storage projects, which not only stabilize energy supply but also enable greater penetration of renewables. This trend is particularly pronounced in regions with ambitious decarbonization targets, such as Europe, North America, and parts of Asia Pacific, where lithium-based solutions are critical for balancing intermittent renewable output.

Technological advancements and ongoing research in lithium extraction and battery chemistry are also propelling the market forward. Innovations such as direct lithium extraction (DLE) technologies are improving yield efficiencies and reducing environmental impact, making lithium production more sustainable and cost-effective. Furthermore, advancements in battery design—such as solid-state lithium batteries—promise higher performance, greater safety, and longer lifespan, broadening lithium’s application scope beyond automotive and energy storage to include consumer electronics, aerospace, and medical devices. These technological leaps are attracting significant venture capital and government funding, further accelerating market growth.

Regionally, Asia Pacific dominates the global lithium market, accounting for the largest share in both production and consumption. This leadership is driven by the presence of major battery manufacturers, rapid industrialization, and a burgeoning EV market in countries like China, Japan, and South Korea. North America and Europe are also witnessing substantial growth, propelled by policy support for EV adoption and energy storage deployment. Latin America, particularly Chile and Argentina, plays a pivotal role as a primary source of lithium raw materials, while the Middle East & Africa is gradually emerging as a strategic market for downstream applications. Each region presents unique growth opportunities and challenges, shaping the global lithium supply chain.

Product Type Analysis

The lithium market is segmented by product type into lithium carbonate, lithium hydroxide, lithium chloride, and others. Among these, lithium carbonate holds the largest market share, primarily due to its widespread use in lithium-ion battery production. Lithium c

Lithium-ion battery pack price dropped to *** U.S. dollars per kilowatt-hour in 2024, down from over *** dollars per kilowatt-hour a year earlier. Lithium-ion batteries are one of the most efficient energy storage devices worldwide. Over recent years, high-scale production and capital investment into the battery production process made lithium-ion battery packs cheaper and more efficient. This demonstrates a staggering demand for energy storage worldwide and could be attributed to the fact that the world is moving towards a renewable energy-based economy where electric vehicles play an increasingly large role. Electric vehicle sales Individuals, organizations, and governments aim to reduce their environmental footprint, as the awareness about the consequences of climate change becomes more widespread. To contribute to a greener society, they promote the growth of the electric vehicle market to make transportation more sustainable and less polluting. When it comes to the sales volume of electric vehicles, the trend is staggeringly positive. For instance, global plug-in electric light vehicle (PEV) sales have progressively increased since 2015, surpassing **** million units sold in 2023. Environmental impact Incorrect disposal of Li-ion batteries can have a devastating environmental impact on the environment, sparking the need for recycling. The global market for lithium-ion battery recycling is expected to reach **** billion U.S. dollars by 2030. This figure compares to around *** billion U.S. dollars in 2023.

EV Battery Lease Portfolio Market Outlook

According to our latest research, the global EV Battery Lease Portfolio market size in 2024 stands at USD 5.1 billion, with a robust compound annual growth rate (CAGR) of 23.8% projected through the forecast period. By 2033, the market is anticipated to reach a substantial USD 41.2 billion. This impressive growth is primarily driven by the increasing adoption of electric vehicles (EVs), evolving mobility models, and the rising consumer demand for cost-effective battery solutions, as per our latest research findings.

The primary growth factor for the EV Battery Lease Portfolio market is the surging adoption of electric vehicles worldwide. As governments implement stricter emission regulations and offer incentives to promote EV usage, consumers are actively seeking flexible and affordable ownership models. Battery leasing addresses a significant barrier to EV adoption: the high upfront cost of battery packs. By decoupling battery ownership from the vehicle, lease models allow consumers to access the latest battery technologies and benefit from lower initial investments. This approach not only accelerates EV penetration but also supports the circular economy by enabling efficient battery lifecycle management and recycling practices.

Another significant driver is the rapid evolution of battery technologies, particularly the shift toward advanced lithium-ion and solid-state batteries. These innovations improve energy density, charging speed, and overall battery lifespan, making leasing arrangements more attractive for both individual and fleet customers. As battery performance improves and replacement cycles shorten, leasing becomes a strategic solution for managing technological obsolescence. Additionally, the proliferation of ride-sharing and fleet services amplifies demand for battery leasing, as these operators prioritize operational efficiency, predictable costs, and minimal downtime. The integration of digital platforms and telematics further enhances lease management, offering real-time monitoring, predictive maintenance, and seamless customer experiences.

The market is also benefitting from the entry of new business models and partnerships between automakers, battery manufacturers, and third-party service providers. Original equipment manufacturers (OEMs) are increasingly launching proprietary battery lease programs, while third-party providers and dealerships expand their offerings to cater to diverse customer segments. The development of subscription-based and pay-per-use models provides additional flexibility, catering to urban consumers, fleet operators, and ride-sharing platforms. Furthermore, the expansion of fast-charging infrastructure and supportive regulatory frameworks in key regions such as Europe and Asia Pacific are catalyzing market growth, fostering a competitive and dynamic ecosystem.

Regionally, Asia Pacific leads the EV Battery Lease Portfolio market, driven by massive EV adoption in China, supportive government policies, and a well-established battery manufacturing base. Europe follows closely, buoyed by stringent emission norms and strong investments in sustainable mobility. North America is witnessing steady growth, particularly in urban centers and among ride-sharing services. Latin America and the Middle East & Africa are emerging markets, with increasing investments in EV infrastructure and pilot lease programs. The regional landscape is marked by varying regulatory environments, consumer preferences, and market maturity, shaping the competitive strategies of key market players.

Battery Type Analysis

The battery type segment of the EV Battery Lease Portfolio market is dominated by lithium-ion batteries, which account for the largest share due to their superior energy density, reliability, and declining cost curve. Lithium-ion technology is the backbone of modern electric vehicles, offering a favorable balance between performance, weight, and lifecycle costs. As automakers and battery manufacturers scale up production, economies of scale further drive down prices, making lithium-ion batteries the preferred choice for leasing models. Leasing providers benefit from the predictable performance and widespread availability of lithium-ion packs, enabling them to offer competitive lease terms and efficient maintenance services.

Community Battery Virtual Power Plant Market Outlook

As per our latest research, the global market size for the Community Battery Virtual Power Plant Market stood at USD 1.78 billion in 2024. The market is experiencing robust expansion, registering a CAGR of 21.6% from 2025 to 2033. By the end of 2033, the market is forecasted to reach USD 12.7 billion. This remarkable growth trajectory is driven by the increasing integration of renewable energy sources, advancements in battery storage technologies, and the rising adoption of decentralized energy systems worldwide. The demand for resilient, flexible, and sustainable energy solutions continues to be a primary catalyst for the rapid evolution of the community battery virtual power plant market.

One of the most significant growth factors propelling the community battery virtual power plant market is the accelerating global shift towards renewable energy integration. As nations intensify their efforts to reduce carbon emissions and meet climate targets, the deployment of distributed energy resources (DERs) such as solar and wind has surged. However, the intermittent nature of these renewables necessitates advanced energy storage and management solutions. Community batteries, when networked into virtual power plants (VPPs), provide a scalable solution for balancing supply and demand, storing excess energy during periods of low consumption, and dispatching it during peak demand. This not only enhances grid stability but also maximizes the utilization of renewable assets, making community battery VPPs an indispensable component of the modern energy landscape.

Another pivotal driver for the market is the rapid advancement in battery technologies, particularly in lithium-ion and flow battery chemistries. The declining cost curve of lithium-ion batteries, coupled with improvements in energy density, cycle life, and safety, has made large-scale community battery installations more economically viable. Additionally, the development of flow batteries offers promising alternatives for long-duration storage, further broadening the application spectrum for community battery VPPs. These technological advancements are complemented by sophisticated energy management software that enables real-time monitoring, predictive analytics, and automated dispatch, optimizing the performance and profitability of virtual power plants. Collectively, these innovations are lowering barriers to entry and accelerating the adoption of community battery VPPs across residential, commercial, industrial, and utility segments.

Policy support and regulatory reforms are also playing a crucial role in shaping the market landscape. Governments across North America, Europe, and Asia Pacific are introducing incentives, subsidies, and mandates to encourage the deployment of distributed storage and VPP systems. These measures include feed-in tariffs, tax credits, and grid service remuneration schemes that enhance the financial attractiveness of community battery projects. Furthermore, the rise of prosumer models, where consumers actively participate in energy generation and trading, is fostering community engagement and investment in shared battery assets. The convergence of supportive policy frameworks, evolving market structures, and growing energy awareness among communities is expected to sustain the momentum of the community battery virtual power plant market through the forecast period.

From a regional perspective, Asia Pacific leads the global community battery virtual power plant market, driven by rapid urbanization, ambitious renewable energy targets, and significant investments in grid modernization. Countries such as Australia, Japan, and South Korea are at the forefront of deploying community battery projects, leveraging their robust solar and wind resources. North America follows closely, with the United States and Canada focusing on grid resilience and decarbonization initiatives. Europe, buoyed by the European Union’s Green Deal and energy transition policies, is also witnessing substantial growth. Meanwhile, Latin America and the Middle East & Africa are emerging markets, gradually embracing community battery VPPs as part of broader energy access and sustainability agendas. Each region presents unique opportunities and challenges, shaped by local energy landscapes, regulatory environments, and technological readiness.

Platinum fell to 1,310.90 USD/t.oz on July 30, 2025, down 6.75% from the previous day. Over the past month, Platinum's price has fallen 3.35%, but it is still 33.97% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Platinum - values, historical data, forecasts and news - updated on July of 2025.

In this article, key electrochemical features of LiFe0.5Mn1.5O4 (LFMO) such as phase stability, voltage behavior, and redox process during delithiation are investigated using density functional theory calculations implementing both PBE + U and SCAN functionals. Our findings indicate that numerous equally likely intermediates can be formed, regardless of the metallic distribution across all lithium compositions, thereby excluding a biphasic mechanism between LFMO and FMO. The shape of the experimental voltage–composition curve is well reproduced by both functionals predicting a voltage step in the half-lithiated LFMO, and the PBE + U functional is more accurate in predicting quantitatively the Mn and Fe plateaus, while SCAN underestimates them. The redox activity of LixFe0.5Mn1.5O4 is primarily governed by the Mn3+/4+ redox couple in the range of 0.5 ≤ x ≤ 1, whereas the Fe3+/4+/(3.x+) couple operates in the region of 0 ≤ x ≤ 0.5, aligned with the experimental voltage–composition curves. The investigation of the redox process suggests the possibility of an anionic contribution that may be reversible in the case of the SCAN functional. This discovery paves the path for the next generation of high-voltage, environmentally friendly lithium-ion batteries with remarkable stability, enhanced performance, and cost-effective potential.

The global market for fluorinated conductive salts for lithium batteries is experiencing robust growth, driven by the burgeoning demand for high-performance energy storage solutions in electric vehicles (EVs), consumer electronics, and grid-scale energy storage systems. The increasing adoption of lithium-ion batteries across various applications, coupled with the superior performance characteristics offered by fluorinated conductive salts – such as enhanced ionic conductivity and improved battery lifespan – are key market drivers. Specific salt types like LiTFSI and LiFSI are gaining traction due to their excellent electrochemical stability and ability to enable faster charging rates and higher energy densities. The market is segmented geographically, with North America, Europe, and Asia Pacific representing significant market shares, driven by robust EV adoption rates and substantial investments in renewable energy infrastructure. While the market faces challenges like the relatively high cost of fluorinated conductive salts compared to alternative electrolytes, ongoing research and development efforts focused on cost reduction and improved production efficiency are mitigating these restraints. Furthermore, growing environmental concerns and government regulations promoting sustainable energy solutions are expected to further accelerate market growth in the coming years. The competitive landscape is characterized by a mix of established chemical companies and specialized material suppliers. Key players are strategically focusing on expanding their production capacities, enhancing their product portfolios, and forging partnerships to secure their market positions. Significant investments in research and development are crucial for these companies to stay ahead of the curve in terms of developing innovative fluorinated salts with improved properties and cost-effectiveness. The forecast period (2025-2033) anticipates a sustained growth trajectory, with continuous technological advancements and increasing demand from the electric vehicle sector expected to drive considerable market expansion. Regional growth will likely be influenced by factors such as government policies supporting the adoption of EVs and renewable energy technologies, the availability of raw materials, and the overall economic climate in various geographic regions. The market is projected to reach a substantial value within the forecast period, driven by the convergence of technological advancements and strong market demand.

Advanced Energy Storage Market Outlook

According to our latest research, the global advanced energy storage market size reached USD 23.4 billion in 2024, with a robust growth trajectory driven by accelerating renewable energy integration and electrification trends. The market is expected to grow at a CAGR of 8.7% from 2025 to 2033, reaching a forecasted value of USD 49.1 billion by 2033. This impressive expansion is fueled by increasing demand for grid stability, the proliferation of electric vehicles, and advancements in battery technologies, positioning advanced energy storage as a cornerstone for the future energy landscape.

The growth of the advanced energy storage market is primarily propelled by the surging integration of renewable energy sources such as solar and wind into the power grid. As these sources are inherently intermittent, energy storage systems are critical for balancing supply and demand, ensuring grid reliability, and reducing curtailment of excess energy. Governments worldwide are introducing supportive policies, incentives, and mandates to accelerate the deployment of energy storage solutions, further catalyzing market expansion. Additionally, the declining cost curve of lithium-ion batteries and other storage technologies is making advanced energy storage increasingly accessible and economically viable for utilities, commercial entities, and residential consumers.

Another significant growth factor is the rapid electrification of the transportation sector, particularly with the global rise of electric vehicles (EVs). Automotive manufacturers are investing heavily in battery research and development to enhance vehicle range, safety, and charging speed, directly boosting demand for advanced energy storage systems. The emergence of vehicle-to-grid (V2G) technologies, which allow EVs to serve as distributed energy resources, is further blurring the lines between transportation and grid storage applications. This convergence is creating new business models and revenue streams, fostering innovation and scaling up the deployment of advanced storage solutions.

Industrial and commercial sectors are increasingly adopting advanced energy storage to manage peak demand charges, provide backup power, and participate in demand response programs. These applications are not only enhancing operational resilience but also enabling organizations to achieve sustainability goals and comply with stringent carbon emission regulations. The expansion of microgrids and distributed energy resources, particularly in remote and off-grid areas, is also contributing to market growth by providing reliable and cost-effective alternatives to traditional grid infrastructure.

From a regional perspective, Asia Pacific dominates the advanced energy storage market, accounting for the largest share in 2024, followed by North America and Europe. The Asia Pacific region is experiencing rapid industrialization, urbanization, and a strong push towards renewable energy adoption, especially in China, Japan, South Korea, and India. North America is witnessing significant investments in grid modernization and EV infrastructure, while Europe leads in policy-driven energy transition and decarbonization initiatives. Each region presents unique opportunities and challenges, shaping the global landscape of advanced energy storage.

Technology Analysis

The technology segment within the advanced energy storage market is characterized by a diverse array of solutions, each catering to specific use cases and performance requirements. Lithium-ion batteries have emerged as the dominant technology, commanding the largest market share due to their high energy density, long cycle life, and declining costs. These batteries are widely deployed across grid storage, transportation, and residential applications, benefiting from continuous innovation in materials science and manufacturing processes. The surge in electric vehicle adoption, coupled with the proliferation of renewable energy projects, has solidi

Energy Storage for Microgrids Market Outlook

The global energy storage for microgrids market is set to experience remarkable growth, with the market size poised to increase from an estimated USD 3.5 billion in 2023 to USD 11.2 billion by 2032, reflecting a compound annual growth rate (CAGR) of 14.1%. This impressive trajectory is driven by a confluence of factors, including the increasing demand for reliable and efficient energy solutions, the growing emphasis on renewable energy integration, and advancements in battery technologies. As the world shifts towards low-carbon economies, microgrids with energy storage solutions are becoming increasingly essential for enhancing energy security, reducing carbon footprints, and ensuring grid resiliency.

One of the primary growth factors in this market is the escalating demand for distributed energy systems. Microgrids, with their ability to operate independently or in conjunction with the main grid, offer a robust solution for areas prone to power outages or those that require uninterrupted power supply. This demand is particularly intensified in remote and rural areas where traditional grid infrastructure is lacking or unreliable. Furthermore, as urban centers expand and populations grow, the need for energy systems that can reduce pressure on existing grid infrastructure becomes crucial, pushing for more microgrid implementations equipped with advanced energy storage solutions.

Another significant driver is the increasing policy support and government incentives for renewable energy integration and energy storage systems. Many governments worldwide are implementing favorable policies, subsidies, and tax incentives to encourage the adoption of renewable energy and energy storage systems. These policies aim to achieve national targets for reducing greenhouse gas emissions and transitioning towards sustainable energy sources. In addition, energy storage technologies like lithium-ion batteries are witnessing significant advancements in terms of efficiency, cost reduction, and lifecycle, making them more appealing for microgrid applications. Such technological advancements are crucial for reducing the overall cost of deploying and maintaining microgrids, thereby broadening their appeal and accessibility across various sectors.

The growing recognition of microgrids as a vital tool for ensuring energy reliability and security in the face of natural disasters and extreme weather conditions is also propelling market growth. Climate change has led to an increase in the frequency and intensity of such events, which can disrupt conventional energy grids. Microgrids, equipped with energy storage capabilities, offer a resilient and flexible energy solution that can adapt to these challenges, maintaining critical operations during grid outages. This characteristic makes them particularly attractive to commercial and industrial sectors that cannot afford operational disruptions, as well as to community and utility systems aiming to enhance local energy resilience.

Regionally, the Asia Pacific is emerging as a significant player in the energy storage for microgrids market, driven by rapid urbanization, industrialization, and a strong governmental push towards renewable energy adoption. Countries like China, Japan, and India are investing heavily in microgrid projects to support their vast and growing infrastructure needs. North America, with its advanced technological landscape and strong regulatory framework supporting clean energy, continues to be a critical market. Europe, known for its aggressive environmental policies and renewable energy targets, also presents substantial growth potential. Meanwhile, Latin America and the Middle East & Africa are gradually gaining traction as they work towards improving energy access and reliability.

Technology Analysis

The technology segment of the energy storage for microgrids market is diversified, encompassing lithium-ion batteries, flow batteries, lead-acid batteries, and other advanced storage technologies. Among these, lithium-ion batteries stand out as the most widely adopted due to their superior efficiency, energy density, and declining costs. The advancements in lithium-ion technology have been pivotal in driving down the cost of energy storage systems, which is critical for the economic viability of microgrid projects. Additionally, their high energy efficiency, long cycle life, and decreasing cost curve make them a preferred choice for both new installations and retrofits in existing microgrid systems.

Flow batteries are gaining traction, particularly in applications requiring ext

Cobalt traded flat at 33,335 USD/T on July 17, 2025. Over the past month, Cobalt's price has remained flat, but it is still 25.20% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cobalt - values, historical data, forecasts and news - updated on July of 2025.

Electric Energy Storage Systems Market Outlook

The global electric energy storage systems market size is expected to witness substantial growth, expanding from USD 50 billion in 2023 to USD 150 billion by 2032, driven by a robust compound annual growth rate (CAGR) of 12%. This remarkable growth is primarily fueled by the increasing demand for efficient energy storage solutions to support the integration of renewable energy sources and the modernization of electrical grids worldwide. As countries strive to reduce their carbon footprint and transition towards cleaner energy systems, the need for reliable, scalable, and cost-effective energy storage solutions has become more critical than ever.

A significant growth factor for the electric energy storage systems market is the rapid advancement in battery technology, particularly lithium-ion batteries. These batteries have become the preferred choice for many storage applications due to their high energy density, longer lifecycle, and decreasing cost curves. Continuous research and development efforts have also led to the enhancement of battery performance, safety, and recyclability. The adoption of electric vehicles (EVs) is also driving demand, as manufacturers and consumers seek more efficient and sustainable energy solutions. Additionally, governmental policies and incentives promoting green energy and storage technology adoption are providing a conducive environment for market growth.

Another factor contributing to market expansion is the increasing emphasis on energy efficiency and sustainability. The global shift towards renewable energy sources such as solar and wind has led to a growing necessity for energy storage systems that can effectively balance supply and demand. These systems play an essential role in stabilizing the grid and ensuring a consistent energy supply, particularly during peak usage times or when renewable generation is intermittent. Additionally, advancements in smart grid technologies and the development of microgrid infrastructures are further accelerating the adoption of energy storage solutions, allowing for more localized control and optimization of energy resources.

The increasing occurrence of power outages and natural disasters has heightened the demand for reliable backup power solutions, further bolstering the energy storage market. Businesses and residential consumers alike are investing in energy storage systems to ensure resilience and continuity of operations during unforeseen events. The need for off-grid energy solutions, especially in remote areas with limited access to traditional power infrastructure, is also propelling the market forward. As energy storage technologies become more affordable and accessible, their adoption is expected to rise across various sectors.

Regionally, the Asia Pacific market is poised for significant growth, driven by the rapid industrialization, urbanization, and strong governmental support for renewable energy initiatives. Countries like China, India, and Japan are at the forefront, implementing large-scale energy storage projects to support their ambitious renewable energy targets. North America and Europe are also key markets, benefiting from advanced technological innovations and a strong focus on sustainability. The presence of established market players and a proactive regulatory landscape further contribute to the growth in these regions. The Middle East & Africa and Latin America are emerging markets, with increasing investments in renewable energy infrastructure and energy storage solutions expected to boost market growth in these regions over the coming years.

Technology Analysis

The technology segment of the electric energy storage systems market is diverse, encompassing lithium-ion batteries, lead-acid batteries, flow batteries, thermal storage, and other emerging technologies. Among these, lithium-ion batteries dominate the market due to their superior performance characteristics, including high energy density, scalability, and decreasing manufacturing costs. Technological advancements have significantly improved the safety and lifecycle of lithium-ion batteries, making them the preferred choice for both stationary and transportation applications. With the proliferation of electric vehicles and renewable energy installations, the demand for lithium-ion batteries is expected to sustain its upward trajectory.

Lead-acid batteries, while being one of the oldest and most established technologies, continue to have a significant presence in the market due to their reliability and cost-effectiveness for certain applications. They are pa

EV Battery Leasing Market Outlook

According to our latest research, the EV battery leasing market size reached USD 3.2 billion in 2024 globally, driven by surging electric vehicle adoption and the need to reduce upfront EV costs. The market is projected to expand at a robust CAGR of 22.3% from 2025 to 2033, reaching an estimated USD 24.9 billion by 2033. This remarkable growth is primarily fueled by the increasing affordability and accessibility of electric vehicles, as battery leasing models help consumers and fleet operators overcome the barrier of high battery replacement costs.

One of the most significant growth factors in the EV battery leasing market is the persistent challenge of high battery costs, which often account for nearly 30-40% of an electric vehicle’s total price. Battery leasing solutions allow end users to purchase EVs at a substantially lower upfront cost, paying only for the vehicle while leasing the battery separately. This innovative approach not only makes EVs more accessible to private consumers but also provides fleet operators with a cost-effective solution to scale up their electric mobility operations. The growing awareness of total cost of ownership (TCO) benefits, combined with flexible leasing models such as subscription and pay-per-use, is reshaping the economics of EV adoption globally.

Technological advancements in battery chemistries, particularly the rise of lithium-ion and the emergence of solid-state batteries, are further accelerating the adoption of battery leasing. As battery technology improves, offering higher energy density, longer lifecycle, and faster charging, the residual value of leased batteries increases, making leasing models more attractive. Additionally, OEMs and third-party service providers are collaborating to develop integrated battery management systems, remote diagnostics, and predictive maintenance, ensuring the reliability and longevity of leased batteries. These technological enhancements are critical for fostering consumer trust and encouraging widespread participation in battery leasing programs.

The proliferation of government incentives and supportive regulatory frameworks is another key driver for the EV battery leasing market. Several governments across Asia Pacific, Europe, and North America are offering tax rebates, subsidies, and policy support for battery leasing initiatives to accelerate the transition to electric mobility. These policies not only lower the financial burden on end users but also stimulate investments from automotive manufacturers, battery suppliers, and mobility service providers. Moreover, the growing focus on circular economy principles and sustainability is encouraging the adoption of battery leasing, as it promotes efficient battery lifecycle management and end-of-life recycling.

From a regional perspective, Asia Pacific remains the undisputed leader in the EV battery leasing market, accounting for over 48% of the global market share in 2024. The region’s dominance is underpinned by the rapid electrification of transportation in China and India, robust government support, and the presence of leading battery manufacturers. Europe follows closely, buoyed by stringent emission regulations and ambitious electrification targets, while North America is witnessing steady growth driven by increasing EV adoption among commercial fleets and private consumers. The Middle East & Africa and Latin America are emerging markets, with growing investments in charging infrastructure and pilot battery leasing projects.

Battery Type Analysis

The battery type segment is a cornerstone of the EV battery leasing market, with lithium-ion batteries commanding the largest share due to their superior energy density, longer lifespan, and declining cost curve. In 2024, lithium-ion batteries accounted for more than 72% of the total market, as they are the preferred choice for most electric vehicles globally. The scalability and

Second-Life EV Battery Farm Market Outlook

According to our latest research, the global Second-Life EV Battery Farm market size reached USD 1.42 billion in 2024, reflecting the sector’s rapid expansion as sustainability and circular economy principles take center stage. The market is forecasted to grow at a robust CAGR of 18.7% from 2025 to 2033, reaching an estimated USD 7.13 billion by 2033. This significant growth is primarily driven by the rising adoption of electric vehicles (EVs) worldwide, which in turn generates a substantial volume of spent batteries suitable for second-life applications, combined with increasing demand for cost-effective and sustainable energy storage solutions.

One of the primary growth factors for the Second-Life EV Battery Farm market is the global shift towards renewable energy sources and the urgent need for grid stabilization. As renewable energy generation, particularly from solar and wind, becomes more prevalent, the intermittent nature of these sources necessitates efficient and scalable energy storage solutions. Second-life EV batteries, which retain up to 70-80% of their original capacity after vehicular use, offer a cost-effective alternative to new batteries for stationary storage. This not only extends the lifecycle of valuable resources but also reduces the overall environmental impact associated with battery manufacturing and disposal. The integration of these batteries into grid and off-grid energy storage systems supports peak shaving, load leveling, and reliable backup power, making them a crucial component in the transition to a low-carbon energy infrastructure.

Another significant driver for market growth is the increasing regulatory support and policy initiatives aimed at promoting battery recycling and reuse. Governments across North America, Europe, and Asia Pacific are implementing stringent regulations to ensure responsible end-of-life management of EV batteries, while simultaneously offering incentives for companies investing in second-life battery projects. These policies are complemented by advancements in battery diagnostics, refurbishment technologies, and business models that facilitate the large-scale collection, testing, and repurposing of used EV batteries. Major automotive and energy companies are entering strategic partnerships to establish second-life battery farms, further accelerating market development and creating new revenue streams within the battery value chain.

The ongoing reduction in the cost of lithium-ion batteries, coupled with technological advancements in battery management systems (BMS) and energy storage integration, is also fueling the expansion of the Second-Life EV Battery Farm market. Enhanced BMS technologies enable more accurate assessment of battery health and residual capacity, ensuring the safety and reliability of second-life applications. Furthermore, the declining cost curve for battery storage, combined with increasing economies of scale, is making second-life solutions more attractive for a wide range of applications, from utility-scale grid storage to commercial, industrial, and residential use cases. These factors collectively contribute to the growing adoption of second-life battery farms across the globe.

From a regional perspective, Asia Pacific currently dominates the Second-Life EV Battery Farm market, accounting for the largest share in 2024, followed by North America and Europe. The rapid expansion of the EV market in China, Japan, and South Korea, coupled with robust government initiatives for battery recycling and energy storage deployment, positions Asia Pacific as the epicenter of market growth. Meanwhile, North America is witnessing increased investments in grid modernization and renewable energy projects, driving demand for second-life battery solutions. Europe’s strong regulatory framework and ambitious decarbonization targets are also fostering a favorable environment for second-life battery farm development. The Middle East & Africa and Latin America are emerging as promising markets, supported by growing energy demand and renewable integration efforts.

Solar-Plus-Storage EPC Market Outlook

According to our latest research, the global solar-plus-storage EPC market size reached USD 9.8 billion in 2024, fueled by robust investments in clean energy infrastructure and advancing storage technologies. The market is poised for substantial growth, with a projected CAGR of 17.3% from 2025 to 2033, reaching an estimated USD 31.6 billion by 2033. This remarkable expansion is driven by the increasing adoption of integrated solar and storage solutions, policy incentives for renewable energy, and the need for grid resilience in the face of rising energy demands and climate change concerns. As per our comprehensive analysis, the solar-plus-storage EPC sector is at the forefront of the energy transition, presenting lucrative opportunities for stakeholders across the value chain.

A primary growth factor for the solar-plus-storage EPC market is the global shift toward renewable energy sources, underpinned by ambitious government targets and decarbonization commitments. Countries worldwide are enacting policies and offering financial incentives to accelerate the deployment of solar power and energy storage systems, recognizing their potential to reduce greenhouse gas emissions and enhance energy security. The integration of storage with solar not only maximizes the value of renewable generation by enabling time-shifting and peak shaving but also addresses intermittency issues, making solar a more reliable and dispatchable resource. As utilities and large-scale energy users aim to meet renewable portfolio standards and carbon neutrality goals, the demand for comprehensive EPC services that can deliver turnkey solar-plus-storage projects is surging.

Technological advancements in both solar photovoltaics and battery storage are further propelling the market forward. The declining cost curve of lithium-ion batteries, coupled with improvements in battery efficiency, cycle life, and safety, has made solar-plus-storage solutions increasingly economically viable across diverse applications. Innovations in project design, digital monitoring, and energy management systems are enabling EPC providers to optimize system performance and deliver higher returns on investment for end-users. As the market matures, EPC contractors are leveraging advanced analytics, modular construction techniques, and integrated project delivery models to reduce project timelines and mitigate risks, thus attracting more commercial and industrial customers to invest in solar-plus-storage assets.

Another significant growth driver is the growing need for grid stability and resilience, particularly in regions prone to extreme weather events and grid outages. Solar-plus-storage systems can provide critical backup power, support grid frequency regulation, and facilitate the integration of distributed energy resources. This capability is increasingly important as electric grids face challenges from electrification trends, such as electric vehicles and distributed generation. By enabling grid operators and utilities to balance supply and demand more effectively, solar-plus-storage EPC projects are becoming a cornerstone of modern energy infrastructure. This trend is expected to intensify as more regions adopt smart grid initiatives and prioritize investments in resilient, flexible energy systems.

Regionally, the Asia Pacific market is emerging as the fastest-growing hub for solar-plus-storage EPC projects, driven by aggressive renewable energy targets in China, India, Japan, and Australia. North America continues to lead in terms of installed capacity and innovation, particularly in the United States, where state-level mandates and federal incentives are catalyzing market growth. Europe is witnessing a surge in demand due to stringent emission reduction policies and the need to modernize aging energy infrastructure. Meanwhile, Latin America and the Middle East & Africa are gradually ramping up investments, leveraging abundant solar resources and international financing to deploy solar-plus-storage solutions for both grid-connected and off-grid applications. This regional diversification is fostering a dynamic and competitive global market landscape.