Demand growth forecasts

  • There is universal agreement among technology experts and market analysts that the global demand for HPA will accelerate
  • Here is a survey of recent published industry forecasts (see table below)
  • This survey shows a range of estimates for the compound annual growth rate for HPA over the coming years of 15 to 29%. A consensus projection based on these estimates would be about 20%
  • Some analysts have suggested these projections may prove overly conservative if the lithium ion battery demand accelerates faster. Some analysts have also suggested the demand growth in North America will likely be higher than the global average.
Company CAGR Note Period
Allied Market Research 20.7% 2017- 2023
CRU International 30.0% 2018- 2028
Global Market Insights 15.8% Global 2020- 2025
18.0% North America 2020- 2025
Grand View Research 18.0% 2016- 2024
Market Research Future 18.6% 2016- 2022
Markets and Markets 20.1% 2015- 2020
Persistence Market Research 19.7% 2016- 2021
Polaris Market Research 16.5% 2018- 2026
Technavio 29.0% 2019- 2023
Transparency Market Research 15.4% 2018- 2026
  • HPA is a huge growth story… the eyes of the car companies turn from time to time and they’ve landed at the moment on HPA.–Toby Green, CRU International (global consultancy)