United Kingdom Electric Vehicle Battery Anode Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.96 Million |
| Market Size (2029) | USD 9.63 Million |
| CAGR (2024 - 2029) | 14.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
United Kingdom Electric Vehicle Battery Anode Market Analysis
The United Kingdom Electric Vehicle Battery Anode Market size is estimated at USD 4.96 million in 2024, and is expected to reach USD 9.63 million by 2029, at a CAGR of 14.20% during the forecast period (2024-2029).
- Over the medium term, the increasing adoption of electric vehicles due to the government's In the medium term, the market is poised to benefit from the rising adoption of electric vehicles, spurred by the government's ambitious targets and corresponding investments.
- However, challenges such as land costs, logistics for raw materials, and the absence of subsidies for battery manufacturing may hinder the market's expansion.
- Ongoing research and development in anode materials present promising growth avenues for the market.
United Kingdom Electric Vehicle Battery Anode Market Trends
Lithium Ion Batteries to Dominate the Market
- Lithium-ion batteries are at the forefront of the electric vehicle (EV) revolution. Their superior energy density and extended life cycle make them pivotal as the automotive industry pivots towards sustainable energy solutions. In the United Kingdom, research and development in the lithium-ion battery sector is gaining momentum.
- In September 2023, the Faraday Institution, the United Kingdom's premier institute for electrochemical energy storage research, announced a USD 21 million investment spread across four key battery research projects, with a focus on lithium-ion initiatives. These investments are poised to bolster future demand for anode manufacturing.
- Furthermore, the United Kingdom is drawing in major players to tap into its lithium deposits, a move anticipated to bolster domestic lithium-ion battery production. For example, in June 2023, French multinational Imerys S.A., a leader in industrial minerals, secured an 80% stake in British Lithium. This private firm is at the forefront of sustainably extracting battery-grade lithium from mica granite. Their collaboration aims to set up the UK's first integrated producer of battery-grade lithium carbonate.
- Historically, as the prices of lithium-ion batteries have plummeted, the demand for related components, notably anodes, has surged. Bloomberg NEF reported that in 2023, the average price of lithium-ion batteries was USD 139 USD/KWh, marking a staggering fivefold price drop since 2014. This swift adoption, driven by falling prices, bodes well for the anode market's growth.
- Given these trends in lithium-ion batteries and anode production, India's electric vehicle battery anode market is poised for growth in the coming years.
Government Support to Raise Adoption of Electric Vehicles
- The United Kingdom government has set an ambitious goal to achieve net-zero carbon emissions by 2050, with a particular focus on reducing emissions from the transportation sector. According to the Department for Energy Security & Net-Zero, domestic transport accounted for approximately 29.1% of greenhouse gas emissions, making it the largest contributor among various sectors. In light of this, the UK's push for electric vehicles is anticipated to drive up the demand for battery components, especially anodes, in the coming years.
- For instance, in January 2024, the government introduced a zero-emission vehicle (ZEV) mandate aimed at car manufacturers. This initiative seeks to provide manufacturers with greater certainty while broadening the selection of electric vehicles for consumers.
- Furthermore, the mandate stipulates a gradual increase in the sales proportion of zero-emission vehicles (ZEVs) for manufacturers. Beginning with a target of 22% in 2024, the goal rises to 80% by 2030 and reaches a complete 100% by 2035. Meeting these phased targets is set to significantly boost the demand for electric vehicle batteries and their components, like anodes, during the forecast period.
- Additionally, the trend of rising electric vehicle adoption in the United Kingdom is evident. Data from the International Energy Agency reveals that in 2023, the country's electric car sales hit 450,000 units, marking a substantial 21.62% increase from the prior year. Given this trajectory, the demand for electric vehicles in the country is poised for further growth, which in turn is likely to elevate the anode market.
- In conclusion, given the current trends and projections, the UK Electric Vehicle Battery Anode Market is set for an upswing in the foreseeable future.
United Kingdom Electric Vehicle Battery Anode Industry Overview
The United Kingdom electric vehicle battery anode market is semi-consolidated. Some of the major players (not in particular order) include UK Anodes LTD, Jennings Anodes, MG Duff International Ltd, Royston Lead, and Nexeon.
United Kingdom Electric Vehicle Battery Anode Market Leaders
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UK Anodes LTD
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Jennings Anodes
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MG Duff International Ltd
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Royston Lead
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Nexeon Ltd
*Disclaimer: Major Players sorted in no particular order
United Kingdom Electric Vehicle Battery Anode Market News
- November 2023: Nissan is set to invest USD 1.43 billion in revamping its manufacturing facility located in northeast England, signaling a major shift towards electric vehicle (EV) production. This move dovetails with the British government's efforts to rejuvenate the nation's economic framework. As a result, there's an anticipated surge in demand for batteries and components, including anodes, in the coming years.
- July 2023: The Tata Group has unveiled its intention to establish a global cell gigafactory in the United Kingdom, with a goal of achieving an annual production capacity of 40 GW. This initiative, backed by an investment of around USD 5.25 billion, highlights Tata Group's commitment to electric mobility and renewable energy storage. Additionally, the move seeks to foster a vibrant green tech ecosystem in the United Kingdom. Given these developments, the electric vehicle battery anode market is poised for growth in the coming years.
United Kingdom Electric Vehicle Battery Anode Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Government policies supporting adoption of electric vehicles
4.5.1.2 Declining Lithium-ion Battery Prices
4.5.2 Restraints
4.5.2.1 Lack of raw materials and associated resources on the European continent for manufacturing batteries
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
4.8 Investment Analysis
5. MARKET SEGMENTATION
5.1 Battery Type
5.1.1 Lead Acid Batteries
5.1.2 Lithium-ion Batteries
5.1.3 Other Battery Types
5.2 Material
5.2.1 Graphite
5.2.2 Silicon
5.2.3 Others
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 UK Anodes LTD
6.3.2 Jennings Anodes
6.3.3 MG Duff International Ltd
6.3.4 Royston Lead
6.3.5 Nexeon Ltd
6.3.6 Tata Group
6.3.7 DKL Metals Ltd
6.3.8 Impalloy Ltd.
6.3.9 Nextrode
6.3.10 Phillips 66
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Research & Development in anode material
United Kingdom Electric Vehicle Battery Anode Industry Segmentation
In electric vehicle batteries, the anode is the battery component from which electrons flow to the cathode during discharge and to which electrons return during charging.
The United Kingdom Electric Vehicle anode market is segmented by battery type and material. By battery type, the market is segmented into Lead Acid Batteries, Lithium-Ion Batteries, and Other Battery Types. By material, the market is segmented into Graphite, Silicon, and Others. For each segment, the market sizing and forecasts have been done based on revenue (USD).
| Battery Type | |
| Lead Acid Batteries | |
| Lithium-ion Batteries | |
| Other Battery Types |
| Material | |
| Graphite | |
| Silicon | |
| Others |
United Kingdom Electric Vehicle Battery Anode Market Research FAQs
How big is the United Kingdom Electric Vehicle Battery Anode Market?
The United Kingdom Electric Vehicle Battery Anode Market size is expected to reach USD 4.96 million in 2024 and grow at a CAGR of 14.20% to reach USD 9.63 million by 2029.
What is the current United Kingdom Electric Vehicle Battery Anode Market size?
In 2024, the United Kingdom Electric Vehicle Battery Anode Market size is expected to reach USD 4.96 million.
Who are the key players in United Kingdom Electric Vehicle Battery Anode Market?
UK Anodes LTD, Jennings Anodes, MG Duff International Ltd, Royston Lead and Nexeon Ltd are the major companies operating in the United Kingdom Electric Vehicle Battery Anode Market.
What years does this United Kingdom Electric Vehicle Battery Anode Market cover, and what was the market size in 2023?
In 2023, the United Kingdom Electric Vehicle Battery Anode Market size was estimated at USD 4.26 million. The report covers the United Kingdom Electric Vehicle Battery Anode Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United Kingdom Electric Vehicle Battery Anode Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United Kingdom Electric Vehicle Battery Anode Industry Report
Statistics for the 2024 United Kingdom Electric Vehicle Battery Anode market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United Kingdom Electric Vehicle Battery Anode analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
