Advanced Battery Market for EVs and Storage Exceeded $5 Billion In 2016
According to Navigant Research’s Advanced Battery Tracker 4Q16, the first three quarters of battery shipments globally amounted toL
- more than 323.5 million individual battery cells
- 16.1 GWh of energy capacity
- 61.4 GW of power capacity
- $3.8 billion in sales
Extrapolating sales through the fourth quarter we can assume that in 2016 the battery market for EVs and energy storage systems will easily exceed $5 billion.
Using our elite math skills we can divide that $3.8 billion of sales into the 16.1 GWh of energy capacity, and calculate an average of about $236 per kWh of energy capacity.
“Lithium ion (Li-ion) continues to be the primary chemistry utilized in light duty automotive applications. The stationary energy storage sector has a more diverse chemistry landscape across world markets with technologies such as sodium sulfur batteries, flow batteries, advanced lead-acid, and hybrid chemistries. Most of the advanced batteries in 2016 have been manufactured in Asia Pacific and shipped around the world. According to Navigant Research, the shipment volume of advanced batteries through 3Q 2016 equates to more than 323.5 million individual battery cells, 61.4 GW of power capacity, and $3.8 billion in sales.”
source: Navigant Research