Worldwide capacity of advanced batteries to reach 28,000-MWh in 2023
Navigant’s report entitled ‘Next-Generation Advanced Batteries’ point out that while lithium ion (Li-ion) batteries offer many advantages compared with traditional battery technologies, research and development of new battery chemistries that, in many ways, surpass Li-ion is advancing rapidly and is expected to have a major impact on the battery industry in the coming years. The new chemistries are anticipated to enable even more applications for batteries and will increase the overall size of the battery market.
“The limitations to Li-ion, including input costs, safety issues, and materials scarcity, could leave it vulnerable to new chemistries that solve some or all of those problems,” said Sam Jaffe, principal research analyst with Navigant Research. “Although most of the chemistries explored in this report are only at laboratory-scale production levels today, they could reshape the market for advanced batteries in the next 10 years.”
Important emerging battery chemistries include ultracapacitors, lithium sulfur, magnesium ion, solid electrolyte, next-generation flow, and metal-air. Their advent is occurring in the context of an increase in the world’s appetite for advanced energy storage devices, according to the report: Navigant Research expects that overall battery demand is expected to increase from approximately 66.2 GWh in 2014 to greater than 225.3 GWh in 2023.
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