Global Energy Capacity for Next-Generation Advanced Batteries is Expected to Reach 6.5 GWh Annually in 2025, According to Navigant Research
New advanced battery chemistries are expected to impact lithium
ion’s market share in the transportation and stationary energy storage
sectors later in the decade, report finds
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.
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
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at 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.
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