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Industrial modernization is not just a buzzword, and with the implementation of the new technologies required by Industry 4.0, many companies are migrating from traditional process control and infrastructure to networked types, and with better energy utilization they must consider upgrading existing equipment or purchasing new ones.
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SnapMagic, a Silicon Valley startup that creates the AI copilot for electronic design, and Harwin have partnered to launch more than 3,500 new computer-aided design (CAD) models that will help engineers design electronic components faster.
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eInfochips, an Arrow Electronics company, has announced the expansion of its collaboration with NXP® Semiconductors to help accelerate the development of industrial high-voltage battery energy storage systems.
eInfochips and NXP have jointly developed a production-ready, flexible, modular energy storage reference platform capable of handling up to 1500 V and 500 A.
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The lithium-ion (Li-ion) battery industry is undergoing significant changes in material usage, driven by the growing demand for electric vehicles (EVs) and stationary battery storage applications. Despite some short-term concerns regarding EV adoption, the long-term outlook for lithium-ion battery demand remains positive due to improving battery technology and pricing, increasing renewable energy penetration, and broadly supportive policies. IDTechEx forecasts that the global lithium-ion battery market will exceed $400 billion by 2035.
This article explores key material trends shaping the lithium-ion battery market, particularly the rise of lithium iron phosphate (LFP) and changes in graphite material. For a more in-depth analysis and discussion of lithium-ion battery material trends, technologies, players, and markets, please refer to the IDTechEx report, "Lithium-Ion Battery Market 2025-2035: Technologies, Players, Applications, Outlook, and Forecasts.".
Shift towards LFP batteries
As the electric vehicle sector moves beyond early adopters and into the mass market, affordability must become a key focus. In this context, lithium iron phosphate (LFP) has emerged as a compelling option for EV batteries due to its lower cost compared to alternatives such as nickel-manganese-cobalt (NMC) and nickel-cobalt-aluminum (NCA) chemistries. LFP is a highly attractive option for automakers seeking to produce more affordable electric models, with several manufacturers outside of China, including Hyundai, Volkswagen, Renault, Stellantis, and Ford, planning to expand their LFP adoption.
The share of LFPs in the global battery market has continued to increase, driven largely by China's readoption of LFP cathodes for electric vehicles. The influence of LFPs is extending beyond China, with early adoption in Europe and the US, as well as growing preference in the stationary energy storage sector, where price and levelized cost are crucial.
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The EU, the US, Japan, and many other regions consider rare earth elements critical materials due to increasing supply risks and their growing economic importance in the green transition. Although critical rare earth elements have diverse technological applications—including lighting, catalysis, and batteries—permanent magnets have become central to the challenges of rare earth supply and demand.
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DigiKey is pleased to announce the expansion of its supplier partner portfolio and the introduction of new products (NPI) during the third quarter of 2024. This includes the addition of 139 new suppliers and more than 611,000 products to its core business, Marketplace, and Fulfilled by DigiKey programs.
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Arrow Electronics, Inc. and its engineering services company eInfochips have announced the expansion of its Automotive Center of Excellence (CoE) with new development centers in Munich and Istanbul that will better assist customers in developing next-generation automotive products.
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The global sensor market is well-established, with hundreds of millions of sensors produced annually. However, the market remains in constant flux, as trends in future mobility, edge computing, artificial intelligence, and digital healthcare continually evolve and reshape sensor technology requirements. IDTechEx predicts that the global sensor market will reach a value of $253 billion by 2035, with emerging technological innovations in photonics, quantum sensing, edge sensing, and IoT representing the fastest-growing segments of the sensor market.
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Digital technologies enable companies to effectively address sustainability goals. While there are some considerable differences in the adoption and usage of smart homes and smart mobility, consumers in Europe, the US, and Asia see similarly high potential for climate protection through digital technologies.
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Industrial Shields has announced a partnership with Controllino. Through this agreement, Industrial Shields assumes exclusive production and marketing of the Controllino brand, expanding its portfolio of industrial solutions. This strategic alliance will allow Industrial Shields to offer customers a wider range of flexible and scalable products, tailored to the needs of each project.
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The corrections in European component markets continued during the summer quarter. The distribution sector is a victim of its previous success and is contracting disproportionately. According to DMASS Europe eV, the European component distribution market shrank by 30.2% in the third quarter of 2024, with consolidated sales of €3.64 billion.
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On September 30, Indra's Board of Directors approved the acquisition of a majority stake in TESS Defence (TESS), which will increase to 51.001%. This transaction, along with the signing of a new shareholders' agreement with a new governance model in a single meeting, allows Indra to assume a controlling majority in the company and consolidate its financial results.
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