SVN® Internation Corp. presents the Energy Report Series prepared by Director of Research, Cameron Williams.
A surge in battery production and a growing demand for energy storage solutions are driving substantial industrial development. Over the past decade, the battery production sector has experienced a notable increase in demand, not only for electric vehicle batteries but also for batteries designed to store energy from wind, solar, and water sources. Projections indicate a nearly twentyfold increase in North America’s battery manufacturing capacity by 2030, leading to significant changes in the commercial real estate market. Industrial spaces are quickly being repurposed to meet the needs of this rapidly growing sector, signifying not just a technological revolution but a crucial economic shift.
In Phoenix, Arizona, LG Energy Solution is making a substantial investment to develop a battery manufacturing complex. This project includes two facilities and stands as the largest-ever single investment for a standalone battery manufacturing facility in North America. Click below to find out more!