In a new report, IDTechEx forecasts that more than 880 million liters of coolant fluid wil be required for electric cars in 2035. Early trends in the market largely revolved around the adoption of active cooling for the battery pack, this now being the industry standard. However, batteries, motors, and... Read more →
A new report from Australia’s national science agency, CSIRO, has projected Australia’s hydrogen electrolyzer manufacturing (HEM) sector could generate $1.7 billion in revenue and create nearly 4000 jobs by 2050. The Hydrogen Electrolyser Manufacturing report highlighted a significant opportunity in manufacturing devices that generate hydrogen from water using electricity, positioning... Read more →
The US Department of Energy (DOE) released a report that highlights ways to reduce the cost of producing clean hydrogen via electrolysis. The report shows that electrolysis has the potential to achieve the aggressive DOE Hydrogen Shot goal of reducing clean-hydrogen production costs to $1 per kilogram (kg), and it... Read more →
The high production cost—known as the Levelized Cost of Hydrogen (LCOH)—has, to date, limited both investment in and demand for green hydrogen. However, ABI Research, a global technology intelligence firm, predicts that global LCOHs will reach a cost-competitive level by 2030 and undercut polluting alternatives by 2040, paving the way... Read more →
The US Energy Information Administration (EIA) expects US refinery capacity to be 17.9 million barrels per day at the end of 2025, about 3% less than at the beginning of this year. LyondellBasel Industries plans to close its Houston Refinery in the first quarter of 2025, removing nearly 264,000 barrels... Read more →
The automotive semiconductor market is expecting a significant CAGR of 11% between 2023 and 2029 to almost $100 billion at the end of the period. Semiconductor device value per car: about $1000 in 2029. The conventional automotive supply chain needs to thoroughly examine its position and transform it to remain... Read more →
Global oil demand is projected to reach 120.1 million barrels per day (mb/d) by 2050, while energy demand will rise 24% during the same period, said the Organization of Petroleum Exporting Countries (OPEC) Secretary General Haitham Al Ghais at the African Energy Week: Invest in African Energies 2024 conference last... Read more →
Despite the growth in metals supply over the last decade, BloombergNEF’s (BNEF’s) annual Transition Metals Outlook finds that there are still not enough raw materials to meet growing demand. This supply squeeze could slow the adoption of clean energy technologies. In order to meet the demands of a net-zero emissions... Read more →
A new study from Juniper Research found that global Advanced Air Mobility (AAM) revenue will reach $6 billion by 2030, up from just $31 million in 2025—a compound annual growth rate of 187%. AAM is the creation of new aviation technologies that enable small scale flights across short distances; often... Read more →
In 2023, the global power electronics market—including discrete devices and modules—was valued at US$23.8 billion. In its Status of the Power Electronic Industry, 2024 edition Yole Group projected the market to grow at a CAGR of 7.0% from 2023 to 2029 to US$35.7 billion in 2029. The discrete market, valued... Read more →
The US Energy Information Administration (EIA) expects that Brent crude oil prices will return to above $80 per barrel this month, after dipping to $73 per barrel on 6 September. In its September Short-Term Energy Outlook (STEO), EIA forecasts that the Brent crude oil spot price will average $82 per... Read more →
With total magnet rare earth oxide consumption forecasted to increase at a CAGR of 5.4% (versus a higher 8.2% for demand) and prices projected to increase at CAGRs of 4.3% to 5.2% over the same period, Adamas Intelligence forecasts that the value of global magnet rare earth oxide consumption will... Read more →
To plug the gap between today’s battery industry and 2040 battery demand will require at least $1.6 trillion of investment, according to Benchmark. This is almost triple the $571 billion needed to meet 2030 demand. Such large investments are needed as battery demand is forecast to grow from 937 gigawatt-hours... Read more →
IDTechEx forecasts that US$110 billion of critical materials will be recovered annually from secondary sources by 2045, with a combined weight of more than 3.3 million tonnes. IDTechEx predicts that the critical material recovery market will grow at a CAGR of 12.7% from 2025-2045. Annual value of critical material recovery... Read more →
The US Energy Information Administration (EIA) expects that the United States will generate more electricity from renewables and coal in the second half of this year, as electricity demand and natural gas prices increase. In its July Short-Term Energy Outlook (STEO), EIA forecasts that natural gas prices will be about... Read more →
The Yole Group forecasts that the global automotive LiDAR market will grow from US$538 million in 2023 to US$3,632 million by 2029, with a CAGR of 38% over this period. In 2022, the market was at a crucial junction. At the time, Yole Group identified significant issues between the PC... Read more →
McKinsey estimates that Europe and North America will each account for 20% of global battery cell production by 2030. However, both regions combined are forecast to hold anywhere from 5 to 10% of global cell component capacity, lagging further behind incumbents in Asia—specifically in separator and electrolyte components. As a... Read more →
The latest forecasts from global technology intelligence firm ABI Research find that global Electric Vehicle (EV) sales are expected to grow by 21% in 2024 and 19% in 2025. This represents a significant decline from growth rates of 31% in 2023 and 60% in 2022. A shortage of chargers and... Read more →
The rapidly accelerating uptake of electric vehicles poses a challenge for aging utility grids. These electrical distribution and transmission networks were never designed to carry the estimated 22,000TWh (22 billion kWh) that the transportation sector currently gets from fossil fuels. The problem is even more acute for locations where there... Read more →
Global capacity for lithium metal production is insufficient to support the early commercial growth of the lithium metal battery industry, according to Benchmark’s Solid-State and Lithium Metal Forecast. Such batteries use lithium metal as the anode material. This can significantly increase the capacity of the battery, but requires the use... Read more →
Recent analysis by Wood Mackenzie finds that, based on forecasted 2030 net cash margins, 121 out of 465 screened refineries are at some risk of closure. This represents a cumulative 20.2 million b/d of refining capacity, or 21.6% of global 2023 capacity. The future viability of refinery facilities will be... Read more →
Global 300mm fab equipment spending for front-end facilities is forecast to reach a record US$137 billion in 2027 after topping US$100 billion for the first time by 2025 on the strength of the memory market recovery and strong demand for high-performance computing and automotive applications, according to SEMI’s quarterly 300mm... Read more →
The US Department of Energy (DOE) released the 2023 Billion-Ton Report (BT23), which shows that the US could sustainably triple its production of biomass to more than 1 billion tons per year. The report—the fourth in a series of assessments of potential biomass resources in the United States since 2005—finds... Read more →
Rethink Energy has published a new report analyzing battery raw material supply chains up to 2030, looking at how current raw material prices will affect future supply and whether or not this can meet demand. The report also analyzes battery cell prices and how prices will continue to fall amidst... Read more →
IDTechEx is forecasting a 35% CAGR in automotive software-related revenue by 2034, with software-related revenue worth more than US$700 billion annually (US, 2023 prices) by 2034. To put this into everyday terms, IDTechEx forecasts that by 2034, the average new car buyer will be paying ~US$70 per month on software... Read more →
In a new report—“Fuel Cell Electric Vehicles 2024-2044: Markets, Technologies, and Forecasts”—IDTechEx predicts that fuel cell electric vehicles will account for just 4% of zero-emission vehicles on the road in 2044, but the opportunity is greater in certain market segments. Battery electric vehicles (BEVs) have made monumental progress in the... Read more →
In an end-of-year outlook, consultancy Argus forecasts that demand will grow in 2024 for nickel-based battery cathodes, their component ingredient nickel sulfate and input feedstocks after a slowdown this year. However, Argus adds, supply is set to outpace this growth, with a ramp up in mixed hydroxide precipitate (MHP) and... Read more →
As of 2023, Taiwan holds approximately 46% of global semiconductor foundry capacity, followed by China (26%), South Korea (12%), the US (6%), and Japan (2%), according to TrendForce. However, due to government incentives and subsidies promoting local production in countries such as China and the US, the semiconductor production capacities... Read more →
Government decarbonization targets and Electric Vehicle (EV) subsidies are driving the adoption of EVs worldwide. By 2035, EVs will make up 27% of all registered cars, requiring a massive increase in public charging infrastructure to support them. New research from global technology intelligence firm ABI Research finds that revenue from... Read more →
In a new report, “Copper Demand for Cars 2024-2034: Trends, Utilization, Forecasts”, IDTechEx forecasts that automotive copper demand will reach 5MT (1MT = 1 billion kilograms) of annual demand in 2034. Autonomy and electrification will drive the growth from today’s demand, but the component that dominates the demand will still... Read more →
In its Short-Term Energy Outlook, the US Energy Information Administration (EIA) forecasts the lowest annual petroleum consumption in Japan in 2024 since at least 1980, in part due to the country’s aging and declining population. Japan’s reduced consumption is already affecting its refining industry. Japanese refiner ENEOS permanently closed a... Read more →
The US Energy Information Administration (EIA) expects North America’s liquefied natural gas (LNG) export capacity to expand to 24.3 billion cubic feet per day (Bcf/d) from 11.4 Bcf/d today as Mexico and Canada place their first LNG export terminals into service and the United States adds to its existing LNG... Read more →
The US Energy Information Administration (EIA) expects global liquid fuels production to increase by 1.0 million barrels per day next year. EIA expects OPEC+ production cuts will remain in place through the end of 2024 and offset non-OPEC production growth. EIA expects a slight decline in global oil inventories in... Read more →
Exponential growth in electric vehicle (EV) sales is transforming the auto sector faster than currently predicted, with EVs set to dominate global car sales by the end of the decade, putting at risk nearly half of worldwide oil demand, according to new analysis by RMI in partnership with the Bezos... Read more →
According to the latest data from J.D. Power, EV adoption in the US is growing increasingly divided, with the most active states for EV adoption already on the path to parity with internal combustion engine (ICE) vehicles and consumers steadily pulling back on EV purchases in the least-active states. On... Read more →
Demand for manganese in batteries is set to grow over eight-fold this decade, due to new battery chemistries and rising electric vehicle sales, according to Benchmark’s Manganese Sulphate Market Outlook. Manganese is a crucial element in nickel cobalt manganese (NMC) cathodes and can be used to improve the range of... Read more →
Global EV sales reached 7.7 million units in 2022, up from 1.4 million units in 2018, and are anticipated to reach 51.6 million units in 2035, driven by government mandates and infrastructure investments, according to GlobalData, a data and analytics company. GlobalData’s latest report, “Electric Vehicles Market Report, Update 2023... Read more →
The US Energy Information Administration (EIA) expects US crude oil production to surpass 12.9 million barrels per day for the first time in late 2023 and to exceed 13 million barrels per day in early 2024. In its August Short-Term Energy Outlook (STEO), EIA forecasts US crude oil production to... Read more →
The lithium industry needs to invest $116 billion by 2030 if the world is to meet the ambitions targets set by governments and the largest automakers, according to a Benchmark analysis. This is more than double the $54-billion investment needed to meet Benchmark’s base case lithium demand scenario. This is... Read more →
More than 1GWh of batteries are now sailing on waters globally, reflecting 72% industry growth in 2022, according to a new report from IDTechEx. Despite this, there have been several challenges that shipbuilders and maritime battery suppliers have had to navigate in recent years. First, electric ship markets have historically... Read more →
Africa’s mined lithium production output is set to increase more than ten-fold this decade, according to Benchmark’s Lithium Forecast. This will increase the region’s strength in the supply of critical minerals beyond cobalt, which the continent has historically dominated. Benchmark’s Lithium Forecast shows that the region is expected to account... Read more →
The global market for ammonia is poised to triple in the coming decades with nearly all of the growth coming from low-carbon ammonia, according to a new analysis by S&P Global Commodity Insights. Driven by improved economics resulting from decarbonization policies, low-carbon ammonia is expected to grow from its current... Read more →
In a new report, Deloitte forecasts that the clean hydrogen market will top the value of the liquid natural gas trade by 2030 and grow further to US$1.4 trillion per year by 2050. In the report, Deloitte uses clean hydrogen to encompass both green hydrogen— produced from renewable electricity via... Read more →
A new NREL study has estimated the number, type, and location of the charger infrastructure needed to support 30–42 million light-duty electric vehicles on the road by 2030. Between ambitious federal clean energy policies, pledges by automotive companies to transition to zero-emission vehicles, and accelerating consumer demand for EVs, analysts... Read more →
Globally, the battery industry needs to invest at least $514 billion across the whole supply chain to meet expected demand in 2030, and $920 billion by 2035, according to a new analysis by Benchmark. Demand for lithium ion batteries is forecast to grow to 3.7 terawatt-hours by 2030, up from... Read more →
According to global technology intelligence firm ABI Research, the worldwide commercial Electric Vehicle (EV) market is projected to grow from US$30.7 billion in 2020 to more than US$682 billion by 2030. This market valuation refers to the total industry-wide global revenues derived from all commercials EVs sold yearly. The growing... Read more →
A study by a team from Carnegie Mellon University and Yale Universitysuggests that BEVs could constitute the majority or near-majority of cars and SUVs by 2030, given widespread BEV availability and technology trends. Their open-access paper is published in Proceedings of the National Academy of Sciences (PNAS). A suggestive market-wide... Read more →
Russia-based Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, presented its eleventh review of the nickel and platinum group metals (PGM) markets based on the fundamental analysis of world economic and industry data. Nickel. In early 2023, nickel has been... Read more →
Higher crude prices and continued optimization improvements have driven the first upward revision to the S&P Global Commodity Insights 10-year oil sands production outlook in more than half a decade. The new forecast, produced by the S&P Global Commodity Insights Oil Sands Dialogue, expects Canadian oil sands production to reach... Read more →
An economic study by research group Steer, and commissioned by T&E, looked at future operating costs of hydrogen planes on intra-European flights and found that they could be an efficient, cost competitive technology to decarbonize the sector, provided kerosene is taxed adequately. (If fossil kerosene is taxed in line with... Read more →