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This week, Detroit is excited to welcome the Battery Show North America to Huntington Place. The annual event, which always provides a fascinating forum for industry leaders and start-ups to discuss battery design and manufacturing innovations, as well as forecasts for the future of the battery market, is especially relevant right now.
That’s because recent research – including our very own Future Mobility Technology Study (FMTS), which was completed in September – suggests that the Detroit Region is on the brink of a serious battery boom.
An overview of the key findings of the FMTS can be found here. Battery innovations are expected to play a prominent role in the economic growth of our 11-county mobility hub.
When you examine the expected rate of growth for mobility-related battery production in North America, the importance of the Detroit Region’s role in this nascent industry becomes clear. Between 2024 and 2030, North American production of vehicle batteries across all mobility sectors is projected to grow at a Compound Annual Growth Rate (CAGR) of 33%.
Michigan is expected to be a hotbed for that growth throughout the continent. The state’s battery production capacity is forecast to grow rapidly from under 10 GWh in 2024 to more than 112 GWh by 2030 – a factor of more than 11x the current production capacity.
Furthermore, battery chemistry and design are intertwined with other key technologies that will spur mobility growth in our region. As battery-powered vehicles become more commonplace on our roads and in our lakes and skies, the development and manufacturing of complementary mobility technologies are sure to blossom at the local level, as well.
These include technologies such as e-motors, power electronics (including inverters, converters, chargers, controllers, power distribution units, and voltage regulators), and thermal-management systems for BEVs. Across all these categories, the local supply chain is about to get incredibly interesting.
The variety of electric vehicles these technologies will enable will also be interesting. Ultimately, the impending battery boom shows how “mobility” means much more than automotive in the future of the Detroit Region.
In addition to heavy-duty commercial EVs, maritime vehicles, and off-highway transportation, aerospace applications of emerging battery technologies are expected to be a cornerstone of short-term mobility sector growth. The use of batteries in aerospace applications is expected to grow at a Compound Annual Growth Rate (CAGR) of 111% between 2024 and 2030 – the highest of any mobility sector analyzed.
GEM and the Detroit Regional Partnership are looking forward to the great connections we’ll make and conversations we’ll have with established mobility companies and innovative start-ups at this year’s Battery Show North America. The future feels truly electric.