Lithium ion is the fastest growing and most promising rechargeable battery technology in the current energy storage market. The high energy density, low maintenance, long cycle life, and low self-discharge are the major advantages offered by lithium ion batteries, making them the go-to solution for energy storage.
The demand for lithium ion batteries in Austria is driven by the factors such as the rising use of renewable energy, increasing adoption of electric vehicles, and supporting government initiatives.
Austria depends heavily on renewable energy sources for its daily energy demand. Hydropower is the most dominant renewable source, accounting for 60.2% of the power generated in 2021.
Austria's goal is to have 100% renewable electricity by 2030. Austria must achieve a net increase of around 2227 terawatt hours (TWh) of renewable electricity across all technologies in order to meet this target.
The country is already a leader in renewable energy, with 3524 MW of wind energy installations and 2692 MW of solar PV installations by the end of 2021.
With the increasing adoption of renewables, the demand for lithium batteries for energy storage is also increasing. The government is promoting the adoption of solar PVs along with storage batteries by providing rebates on the solar PV plus storage installation.
Austria has an ambitious goal of becoming carbon neutral by 2040. In order to achieve its goal, the country is taking active steps to reduce carbon emissions from its transportation sector by promoting electric vehicles and the use of public transport for commuting.
Austria provides a comprehensive set of incentives to encourage e-mobility adoption, including purchase subsidies, registration tax breaks, ownership tax breaks, company tax breaks, VAT breaks, infrastructure incentives, and free parking.
As a result of government initiatives, Austria has seen exponential growth in the adoption of electric vehicles. The number of electric vehicles (EVs) has risen sharply since 2013. As of the end of June 2022, 126,925 electric vehicles (including PHEV and FCEV) were on the roads of Austria.
Total EV sales increased by 103.2% in 2021, reaching 48,006 units. This is due to a strong performance in BEV sales, which increased by 108.8% to 33,380 units, and PHEV sales, which increased by 91.4% to 14,626 units.
EVs continue to trend higher as incentives drive demand to new heights, despite overall weakness in Austria's total new vehicle market. The proliferation of new EV models from a slew of automakers is luring new buyers into the rapidly expanding zero-emission vehicle market.
As li ion battery is a major element of an electric vehicle, the demand for lithium batteries is also expected to increase with the rising adoption of electric vehicles.
Austria possesses a lithium mine that has the capability to supply lithium to the entire European Union. The wolfsberg lithium project is an underground mine located about 270 kilometers from Vienna.
European Lithium (an Australian mining company) is developing the project, which is expected to produce 10,000 tonnes of lithium hydroxide (LiOH) per year. It is expected to mine at an annual rate of 800,000 tonnes per annum (tpa) for the next ten years. The mining of lithium is expected to begin by the end of 2023.
The new report from Blackridge Research on Austria Lithium-ion (Li-ion) Batteries Market comprehensively analyses the Lithium-ion (Li-ion) Batteries Market and provides deep insight into the current and future state of the industry in the country.
The study examines the drivers, restraints, and trends influencing Austria Lithium-ion (Li-ion) Batteries Market demand and growth.
The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the Austria Lithium-ion (Li-ion) Batteries Market, important commercial developments, trends, segments poised for the fastest growth, and the competitive landscape.
Further, the report will also provide Austria Lithium-ion (Li-ion) Batteries Market size, demand forecast, and growth rates.
The study covers all the major underlying forces that help the market develop and grow and the factors that constrain the growth.
The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data.
Each factor's respective impact in the near, medium and long term will be covered using Harvey balls for visual communication of qualitative information and functions as a guide for you to analyze the degree of impact.
This report discusses the overview of the market, the latest updates, important commercial developments and structural trends, and government policies and regulations in the country.
This section provides an assessment of COVID-19 impact on Austria's Lithium-ion (Li-ion) Batteries Market demand in the country.
The report provides Austria Lithium-ion (Li-ion) Batteries Market size and demand forecast until 2027, including year-on-year (YoY) growth rates and CAGR.
The report examines the critical elements of the Lithium-ion (Li-ion) Batteries industry supply chain, its structure, and the participants
Using Porter's five forces framework, the report covers the assessment of the Lithium-ion (Li-ion) Batteries industry's state of competition and profitability.
The report dissects the Austria Lithium-ion (Li-ion) Batteries Market into various segments (by cathode material and by application). A detailed summary of the current scenario, recent developments, and market outlook will be provided for each segment.
Further, market size and demand forecasts will be presented, along with various drivers and barriers for individual market segments.
Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth. Contact us for "bespoke" market segmentation to better align the research report with your requirements.
This report presents detailed profiles of Key companies in the Lithium-ion (Li-ion) Batteries industry. In general, each company profile includes - an overview of the company, relevant products and services, a financial overview, and recent developments.
The report provides a comprehensive list of notable companies in the country's market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements.
The study also discusses the strategies adopted by leading players in the industry.
The executive summary will be jam-packed with charts, infographics, and forecasts. This chapter summarizes the findings of the report crisply and clearly.
The report begins with an Executive Summary chapter and ends with Conclusions and Recommendations.
Get a free sample copy of the Austria Lithium-ion (Li-ion) Batteries Market report by clicking the "Download a Free Sample Now!" button at the top of the page.
1. Executive Summary
2. Research Scope and Methodology
3. Market Analysis
4. Industry Analysis
5. Market Segmentation & Forecast
6. PESTLE Analysis
7. Key Company Profiles
8. Conclusions and Recommendations
More than 70% of our clients seek customized reports. Reach us out to get yours today!