LITHIUM MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Energy storage demand outside transportation

Lithium battery technologies are also seeing expanding applications beyond powering vehicles. The uptake of renewable energy sources like solar and wind is rising rapidly, but their intermittent nature requires efficient energy storage solutions to balance electricity grids. Lithium-ion batteries have emerged as a preferred storage medium and their use is growing exponentially both at large utility-scale projects as well as behind-the-meter at residences and businesses with solar panels. Widespread deployment of batteries for grid energy storage could drive enormous volumes of new lithium demand. Meanwhile, consumer electronics continue advancing with more powerful devices requiring higher capacity rechargeable batteries. New opportunities are also emerging in stationary storage applications at mobile phone towers, data centers, and other commercial/industrial facilities seeking to reduce reliance on fuel-based generators. Expanding use of distributed battery storage across industries will be an influential driver propelling lithium consumption higher in the energy sector over the long run.