Global | Batteries, the “master key” to the energy transition

Summary

Batteries are a vital component of the global energy system, playing a pivotal role in two key sectors for the transition: transport and energy.

Key points

• Key points:
• In the last decade, lithium batteries have become the dominant technology, both in electric vehicles and in storage applications, having achieved cost reductions of more than 80% and delivering higher performance.
• China is leading the global market in batteries for electric vehicle use, although its relevance has been eroded in recent years by growing support mechanisms and regulatory developments in other economies.
• In the coming years, the demand for batteries is expected to grow significantly, mainly for use in electric vehicles and light transport vehicles. This surge could place the battery market in a strategic and decisive position on a global scale.
• Batteries will therefore be a crucial factor in the transition from fossil fuels, potentially enhancing energy efficiency through electrification and greater use of clean energy sources.

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