Global demand for batteries is expected to surge fourfold, reaching 4,100 gigawatt-hours (GWh) by 2030 according to a report by Bain & Company.
Batteries, being the primary cost driver for Original Equipment Manufacturers (OEMs), play a crucial role in product performance, compelling OEMs to enhance their battery strategies to remain competitive.
Mahadevan Seetharaman, partner at Bain & Company’s advanced manufacturing services practice, highlighted the significance of this shift.
He pointed out that the evolving landscape of battery chemistries, especially within lithium-ion technology, is reshaping OEM product roadmaps. OEMs are now faced with crucial decisions about which battery types to adopt and whether to produce these batteries internally or collaborate with partners.
As reported by manufacturingtodayindia.com, as the battery market continues to evolve, OEMs must proactively adapt to these changes to effectively navigate the challenges and seize the opportunities in this rapidly transforming industry.
