Pipeline

The  electric vehicle battery category  is expected to grow at a CAGR of 21.1% from 2023 to 2030. In 2023, the sales of BEVs and PHEVs surpassed those of hybrid electric vehicles (HEVs) worldwide. As a result, the requirement for a larger battery size in BEVs and PHEVs is in turn increasing the demand for batteries. IEA 2023 report states that battery demand in China increased by 70% and sales of EVs increased by 80% in 2022 compared to 2021. In the U.S. region, battery demand rose by 80% in 2022. Critical materials are in greater demand due to the rise in battery demand. For instance, in 2022, lithium demand exceeded supply despite having a 180% increase in production levels since 2017. In 2022, the demand for lithium, nickel, and cobalt increased to 60%, 10%, and 30% respectively mainly for EV batteries. Lithium nickel manganese cobalt oxide topped the battery chemistry category in 2022 with around 59% to 61% of the total market share. As per IEA 2023 estimates, this was followed by

The global 3PL services category is expected to register a CAGR of 10.7% from 2022 to 2030. In 2022, North America accounted for 35% of the market share followed by Europe and APAC. The APAC market is projected to grow fastest during the forecast period. The increase in online shopping along with the increasing demand for next-day delivery has forced logistics service providers to switch to automated systems and robots in warehouses across the world. Logistics service providers are constantly upgrading their technology to meet the rising consumer demand and improve efficiency & productivity. To minimize errors and optimize warehouse space, many companies have started using Automated Guided Vehicles (AGVs) and cobots alongside humans to perform tasks, such as packing, sorting, loading, and unloading. Artificial Intelligence (AI) and Machine Learning (ML) technologies are used to enhance the automation capabilities of robots and to perform complex and dynamic tasks. Drones and Unman