Navigant: Worldwide demand for new advanced battery technologies to grow 1,000% by 2023

By: InnovatioNews Tuesday September 23, 2014 0 comments Tags: advanced batteries, Boulder, Navigant Research, Sam Jaffe

 

Navigant Research logo newBOULDER - The total worldwide capacity of advanced batteries is expected to grow from 30.4 megawatt-hours (MWh) this year to more than 28,000 MWh in 2023, according to a new report by Navigant Research.

While lithium-ion batteries offer many advantages over traditional battery technologies, the Navigant report says R&D of new battery chemistries is surpassing lithium-ion in many ways and is expected to have a major impact on the battery industry over the next few years.

The new chemistries are anticipated to enable even more applications for batteries, increasing the size of the battery market, the report says.

"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, Navigant principal research analyst.

"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."

Among the emerging chemistries are ultracapacitors, lithium sulfur, magnesium ion, solid electrolyte, next-generation flow and metal-air.

The report says overall battery demand is expected to increase from approximately 66.2 GWh today to more than 225.3 GWh by 2023.

An Executive Summary of the report, "Next-Generation Advanced Batteries," is available for free download on the Navigant site.
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