Sources and links on page 23 (6)
Links embedded in the original report PDF, including citations and other references. These destinations have not been independently reviewed. Links open in a new tab.
- https://www.lek.com/insights/ei/charged-demand-brings-challenges-battery-value-chain
- https://www.globenewswire.com/news-release/2022/11/30/2565278/0/en/Minerals-Market-for-Lithium-Batteries-to-Rise-at-15-2-CAGR-during-2022-2031-TMR-Study.html
- https://www.globenewswire.com/en/news-release/2022/09/30/2525753/0/en/Battery-Materials-Market-Worth-USD-62-Billion-by-2030-at-8-75-CAGR-Report-by-Market-Research-Future-MRFR.html
- https://www.globenewswire.com/en/news-release/2022/10/10/2531102/0/en/Global-Battery-Manufacturing-Equipment-Market-Size-Share-Worth-25-4-Billion-by-2030-at-a-30-CAGR-Custom-Market-Insights-Outlook-Report-Trends-Forecast-Trends-Segmentation.html#:~:text=%22According%20to%20the%20latest%20research,during%20the%20forecast%20period%202022
- https://www.globenewswire.com/news-release/2022/12/05/2567019/0/en/Latest-Global-Lithium-Ion-Battery-Market-Size-Share-Worth-USD-184-15-Billion-by-2030-at-an-18-5-CAGR-Custom-Market-Insights-Analysis-Outlook-Leaders-Report-Trends-Forecast-Segmenta.html#:~:text=search-,%5BLatest%5D%20Global%20Lithium%2DIon%20Battery%20Market%20Size%2FShare,Growth%2C%20Growth%20Rate%2C%20Value)
- https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/battery-2030-resilient-sustainable-and-circular
Text on page 23
Industry Value Chain
Battery Industry Value Chain & Profit Margin Profile
Battery Industry Value Chain & Profit Margin Profile
There is a wide range of profit margins and revenue profiles across the battery value chain
2030 Total:
The growing trend of vertical integration blurs traditional boundaries between upstream, midstream and downstream segments Cell & EV manufacturing companies capture more sections of the value chain (midstream & downstream). Despite having lower net profit margins compared to component businesses, they still dominate through their financial strength and scale.
Market: $58.4B CAGR: 15.2%
Market: $62B CAGR: 8.75%
Market: $25.4B CAGR: 30%
Market: $184B CAGR: 18.5%
Market: $74B CAGR: 21.2%
Mining and Recycling, Electrolyte & separator, and equipment companies enjoy higher gross profit margins due to lower Cost of Goods Sold. However, mining & recycling companies have low net profit margins due to high operating expenses (e.g. high upfront capex, licensing, permitting)
Market: $400B CAGR: 26.5%
Data from Chinese publicly listed companies’ financial report 2017-2022
Source: L.E.K. Research
Extracted from the PDF; charts and images may read imperfectly.
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