The Role of Lithium and Cobalt in the EV Battery Supply Chain
Market Overview The global electric vehicle (EV) battery market is experiencing an explosive phase of growth, serving as the backbone of the global transition to electric mobility. As countries enforce stricter emissions regulations and aim for net-zero carbon goals, the demand for electric vehicles—and by extension, the batteries that power them—is expanding at an unprecedented rate. The market is set to grow at a compound annual growth rate (CAGR) of 10.10% from 2023 through 2030, with strong momentum expected to carry well into 2032. This growth is being driven by continuous advancements in battery chemistry, falling production costs, global investments in charging infrastructure, and widespread consumer and commercial adoption of EVs. Major global automotive manufacturers are committing to full electrification strategies, accelerating battery innovation and investment. Simultaneously, governments across continents are rolling out incentives, subsidies, and regulatory framework...