UK advanced battery market forecast to reach USD 13.5 billion by 2031

  • ResearchAndMarkets.com added a report covering the UK advanced battery market through 2031.
  • The market is forecast to rise from USD 8.1 billion in 2026 to USD 13.5 billion in 2031.
  • The Faraday Institution projects six UK gigafactories, each producing 20 GWh annually, may be needed by 2030.

The UK advanced battery market is forecast to grow from USD 8.1 billion in 2026 to USD 13.5 billion by 2031, a compound annual growth rate of 10.8%, according to a ResearchAndMarkets.com report. Growth is being driven by electric-vehicle mandates, renewable-energy integration, domestic manufacturing and public investment in critical-mineral processing and workforce development. More than £2 billion has been committed through 2030 to strengthen production, research and supply-chain resilience. The Faraday Institution projects that the UK could need six gigafactories (large battery manufacturing plants), each producing 20 GWh annually, by 2030. Electric vehicles are expected to create an annual battery-demand floor of approximately 80 GWh, while grid-storage demand is forecast at 6 GWh by 2040. Constraints include financing, construction timelines, workforce shortages, imported raw materials and East Asian supply-chain concentration. China accounts for approximately 85% of global battery-cell production and 90% of precursor refining, while the UK imports around £1.8 billion of lithium-ion batteries annually. The report identifies lithium-ion, lithium iron phosphate, solid-state and sodium-ion technologies across automotive, energy storage, consumer electronics, industrial, medical, aerospace and defence applications. Automotive uses represent approximately 70% of UK battery volume, while energy storage systems are forecast to be the fastest-growing application segment. Envision AESC, Tata, Altilium, LG Energy Solution and Samsung SDI are among the companies discussed.

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UK advanced battery market forecast to reach USD 13.5 billion by 2031 - CoinPost Terminal