Las Vegas: Charging the World and Transforming Real Estate Through the Battery Industry

This dramatic increase in the use of lithium-ion batteries is why recent forecasts predict the global lithium-ion battery market will grow fivefold, from around $85 billion in 2022 to over $400 billion by 2030. The Las Vegas Global Economic Alliance (LVGEA) believes Southern Nevada is uniquely positioned to capture a significant portion of this expanding market.

While the adoption of EVs is indeed driving significant demand—expecting up to 30% of the nation’s vehicles to be electric within a decade—these batteries are powering more than just cars. From the cell phone in your pocket to the laptop you use for work and the appliances making your home comfortable, lithium-ion batteries are becoming ubiquitous in everyday life.

Las Vegas Advantage

Las Vegas’ proximity to Southern California’s ports offers a strategic advantage for companies sourcing metals for battery production. With 90% of the world’s lithium and many essential minerals like cobalt, nickel, and graphite produced overseas, this proximity is crucial. Manufacturers also benefit from having over 60 million customers and vendors within a two-day drive, including a growing number of lithium supply chain and component manufacturers.

Furthermore, California’s aggressive electrification standards for new car sales present a significant opportunity. By 2030, 68% of new cars sold in California must be hybrid or electric, increasing to 100% by 2035. Given California’s large population, this proximity to the nation’s largest lithium-ion battery market is a considerable advantage for Las Vegas-based battery manufacturers.