BOULDER, Colo.--(BUSINESS WIRE)--A recent report from Navigant Research analyzes the global market for next-generation advanced batteries, with a focus on the current leading battery chemistry, lithium ion, and the energy storage device types that might eventually replace it.
While lithium ion (Li-ion) batteries offer many advantages over 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. These new chemistries are anticipated to enable even more applications for batteries, thus increasing the overall size of the battery market. Click to tweet: According to a recent report from Navigant Research, the total worldwide capacity of advanced batteries is expected to grow from 30.4 megawatt-hours (MWh) in 2014 to more than 28,000 MWh in 2023.
“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,” says 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 enormous 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.
The report, “Next-Generation Advanced Batteries”, analyzes the global market for next-generation advanced batteries, with a focus on the current leading battery chemistry, Li-ion, and the energy storage device types that might eventually replace it: ultracapacitors and lithium sulfur, solid electrolyte, magnesium ion, next-generation flow, and metal-air batteries. The report provides an analysis of the market issues and battery landscape associated with next-generation advanced batteries. Global market forecasts for energy capacity, power capacity, and revenue, segmented by region, application, and chemistry, extend through 2023. The report also examines the key imminent and emerging technologies related to advanced batteries and provides in-depth profiles of the major industry players. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Next-Generation Advanced Batteries,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
