Global Energy Capacity for Next-Generation Advanced Batteries is Expected to Reach 6.5 GWh Annually in 2025, According to Navigant Research
A new report from Navigant Research examines the global market for next-generation advanced batteries in the transportation and grid-tied stationary energy storage sectors, with forecasts for capacity by region, chemistry, and revenue, through 2025. Several new battery chemistries are projected to enter the global transportation and grid-tied stationary energy storage markets as researchers look to meet and exceed the safety expectations of lithium ion (Li-ion) at lower price points. These new chemistries, which are not yet commercially available, include lithium sulfur (Li-S), lithium solid-state (Li-SS), next-generation flow, and a liquid metal battery, are expected to reach a combined global market penetration of 7.5 percent across the transportation and grid-tied stationary energy storage sector in 2025. Click to tweet: According to a new report from @NavigantRSRCH, global energy capacity for next-generation advanced batteries is expected to grow from 30.2 MWh in 2019 to 6.5 GWh annually in 2025.
“The path toward commercialization for next-generation advanced batteries remains challenging, with tremendous obstacles to overcome at each stage of growth,” says William Tokash, senior research analyst with Navigant Research. “Industry players looking to gain a strategic advantage should partner with large, well-funded, committed Li-ion battery technology and energy companies now moving into the energy storage sector.” Li-ion is currently the primary chemistry used for transportation and grid-tied stationary energy storage applications that require next-generation batteries, yet it presents future limitations, including challenges related to energy density, safety, and costs. According to the report, Li-S, Li-SS, next-generation flow, and other advanced batteries represent potential contenders that may begin to encroach on Li-ion market share as the world’s most flexible battery chemistry in these sectors.
The report, Next-Generation Advanced Batteries, analyzes the global market for next-generation advanced batteries in two key sectors: transportation (motive) and grid-tied stationary energy storage. The study provides an analysis of the market issues, including demand and commercialization factors, associated with next-generation advanced batteries. Global market forecasts for capacity by region, chemistry, and sector and revenue by region extend through 2025. The report also examines the key technologies issues related to next-generation batteries, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
Source: Business wire