Lithium-Ion Battery Market To Grow By 22.8% Annually From 2014-2019

SEP 24 2015 BY STAFF 10

2016 Chevrolet Malibu Hybrid Lithium-Ion Battery System

2016 Chevrolet Malibu Hybrid Lithium-Ion Battery System

Hitachi Automotive Systems - Prismatic lithium-ion battery cell

Hitachi Automotive Systems – Prismatic lithium-ion battery cell

Forward-looking research firm Research and Markets predicts that the global lithium-ion battery market for alternative energy vehicles will grow at a CAGR (compound annual growth rate) of 22.8% over the period 2014-2019.

Research and Markets states the following:

Various types of Li-ion batteries are available in the market for different applications. End-users can opt for Li-ion batteries that suit their requirements. Lithium cobalt oxide batteries are ideal for cellphones, laptops, and cameras because of their high current densities. The control circuit prevents overcharging and ensures these batteries are safe for use. Similarly, LMO batteries provide high thermal stability and enhance power output at lower currents. They are ideal for power tools, e-bikes, EVs, and PHEVs. Lithium nickel cobalt aluminum oxide and lithium titanate batteries are used in electric power trains and grid storage systems. The availability of different types of Li-ion batteries is expected to boost market growth during the forecast period.

According to the report, the growing use of PHEVs worldwide is likely to drive market growth during the forecast period. Several auto manufacturers have started focusing on PHEVs because of tax-related benefits and government grants. Also, the price of Li-ion batteries is reducing YoY, thus encouraging manufacturers to invest more in PHEVs.

Further, the report states that the longer charging time of Li-ion batteries used in vehicles is one of the key hindrances affecting the market growth.

Categories: Battery Tech

Tags:

Leave a Reply

10 Comments on "Lithium-Ion Battery Market To Grow By 22.8% Annually From 2014-2019"

newest oldest most voted

If market grows 22.8% annually while battery price is reducing (let’s say moderate 10% annually), then production rate in kWh grows 36.4% annually. That is almost fivefold increase in five years!

If the market for stationary storage really takes off, it could actually grow a lot faster than that. Battery making might become a boom industry!

Battery manufacturing must strive to be clean as possible no cutting corners.

I always find it amusing when anyone thinks they can predict a 5 year trend so precisely. Not 20-24% but exactly 22.8%.

Then again, come 2019 who is going to even remember this report and call these guys on it when they’re wrong?

+1000

No, sorry. +1007.4671

In line with subspace’s rating system…

+2014.9342

I just realized, that looks a lot like a stardate from Star Trek.

KIRK: What would you say the odds are on our getting out of here?

SPOCK: It is difficult to be precise, Captain. I should say approximately 7824.7 to one.

KIRK: Difficult to be precise? 7824 to one?

SPOCK: 7824.7 to one.

KIRK: That’s a pretty close approximation.

SPOCK: I endeavor to be accurate.

— Classic Star Trek, “Errand of Mercy”

I suppose that is because they calculate some growth curve, and that the stated figure is their most probable prediction.

But i sure would like better if they also provided the standard deviation in their predictions, so that we also could see how sure/unsure they are in their guessing based on their model of the future growth…

All battery manufacturing must strive to not pollute air, water, land with metals and chemicals. Battery makers must not cut environmental regulations in order to meet increased demand and lower battery cost. Battery makers must not outsource manufacturing to poor countries with weak environmental regulations.