Q1 2023 Automotive industry demand forecast

The data in these demand graphs is based on APC insight from our close relationship with UK OEMs on xEV production, APC Automotive Council PEMD traction specifications coupled with published data from IHS, Rho Motion and BNEF powertrain splits used to guide 2030 demand forecast.


 Key headlines


    • Global battery requirement demand forecast increase to 3306 GWh (gigawatt hours). An increase of 5 million Battery Electric Vehicles (BEVs) globally 
    • Previous forecast of 2906 GWh by 2030 
    • Global battery demand by 2030 remains high US and China lead demand while Europe and UK battery demand forecast is lowered, due to the impact from US Inflation Reduction Act, and shifting some vehicle models launches to after 2030 
    • Europe demand forecast lowered by 100 GWh, UK by 7 GWh in 2030 
    • Supply chain issues begin to ease but benefit will not be seen as quickly in the UK compared to Asia and US 
    • Industry shift to an increase in fuel cell electric vehicles (FCEV) impacts Platinum demand

Published: 30/06/2023

Q1 2023 Automotive industry demand forecast

Our Q1 2023 Quarterly Automotive Demand Forecast report looks at the impact of the US Inflation Reduction Act and explores how a potential increase in fuel cell electric vehicles will impact platinum demand for the automotive industry.