Q4 2024 Automotive industry demand forecast
The data in these demand graphs is based on APC insight gathered from UK OEMs on xEV production; APC and Automotive Council PEMD traction specifications; and powertrain split forecasts from S&P Global IHS Markit. Rho Motion, Bloomberg NEF (BNEF), and Wood Mackenzie have also guided the demand forecast.
Key headlines
Some key takeouts from the report include:
- Global battery-electric vehicle production still on track to double between 2027 and 2035
- 2024 is the first year that global battery demand exceeds 1 TWh
- Lithium iron phosphate LF(X)P battery chemistries maintain their global dominance offering
- Development of the upstream materials supply chain remains a key challenge to overcome, but expected as part of the transitional journey
Published: 03/04/2025
Q4 2024 Automotive industry demand forecast
Our Q4 2024 Quarterly Automotive Demand Forecast reports a globally positive outlook for battery manufacturing with battery-electric vehicle production set to double between 2027 and 2035, despite continued adoption hurdles global automotive battery demand is forecast to pass the 4TWh mark by 2035.
Published: 03/04/2025
Q4 2024 Automotive industry demand forecast
Our Q4 2024 Quarterly Automotive Demand Forecast reports a globally positive outlook for battery manufacturing with battery-electric vehicle production set to double between 2027 and 2035, despite continued adoption hurdles global automotive battery demand is forecast to pass the 4TWh mark by 2035.