BOULDER, Colo.--(BUSINESS WIRE)--Currently available advanced battery technologies for cleantech applications fall short of market needs. While lithium ion batteries have emerged as an early leader in cleantech applications such as energy storage and electrified vehicles, after nearly 20 years of commercialization efforts, the competitive field remains open. According to a new research brief from Pike Research, a part of Navigant’s Energy Practice, over the next decade, the advanced battery industry will witness the introduction of new approaches to technology and project development, targeting a wide variety of end-use products and services.
“The demand for more portable and distributed technologies is becoming the foundation for modern society,” says research director Kerry-Ann Adamson. “However, demand for energy storage in cleantech applications, particularly electrified transportation, has not emerged as strongly as anticipated, presenting challenges for the lithium ion battery industry. Despite these challenges, emerging technologies from university laboratories and startup companies around the world will address the core problems in the battery industry.”
The United States, in particular, is a hotbed of battery innovation that is nurtured by both private investment and strong support from the U.S. government. As of 2012, the U.S. government had 39 different battery and energy storage related research programs managed by six different agencies ranging from the Department of Energy (DOE) to the Department of Defense (DOD). All told, these 39 programs have invested roughly $1.3 billion from 2009 to 2012. Worldwide, according to the report, the market for grid-scale advanced batteries will receive nearly $30 billion in investment through 2020.
The research brief, “Emerging Battery Technologies”, details the state of the advanced battery industry today and examines the materials and design innovations that have the potential to revolutionize the energy storage industry. Forecasts for total capacity of advanced batteries and for investment in grid-scale advanced batteries are included through 2020. In addition, the research brief profiles the key players in this rapidly evolving sector. An Executive Summary of the research brief is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant’s global Energy Practice on July 1, 2012, provides in-depth analysis of 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, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYSE: NCI) 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, “Emerging Battery Technologies,” is a summary and reflects Pike 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 Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.