Next-Generation Advanced Batteries Will Reach $9.4 Billion in Annual Revenue by 2023

June 18, 2014

New chemistries will offer higher energy densities and lower price points, report finds

The primary battery chemistry currently used for applications that require advanced batteries, lithium ion (Li-ion), has limitations that include input costs and materials scarcity.  Research and development of new battery chemistries, beyond Li-ion, is advancing rapidly and will have a major impact on the battery industry in the coming years.  Click to tweet: According to a new report from Navigant Research, worldwide revenue from next-generation advanced batteries will grow from $182 million in 2014 to more than $9.4 billion in 2023.

“The advanced battery industry is growing at an aggressive pace, and new chemistries will likely enable even more applications for batteries, thus increasing the overall size of the battery industry,” says Sam Jaffe, principal research analyst with Navigant Research.  “The emergence of these new chemistries will help meet the world’s expanding appetite for advanced energy storage devices.”

Although energy density has been the most sought-after goal for new battery chemistries, cost has also become an important concern for most battery buyers, according to the report.  Next-generation chemistries, including ultracapacitors, lithium sulfur, and next generation flow technologies, offer a combination of higher density and lower price points.

The report, “Next-Generation Advanced Batteries”, analyzes the global market for next-generation advanced batteries, with a focus on the current leading battery chemistry, Li-ion, and the energy storage device types that might eventually replace it: ultracapacitors and lithium sulfur, solid electrolyte, magnesium ion, next-generation flow, and metal-air batteries.  The report provides an analysis of the market issues and battery landscape associated with next-generation advanced batteries.  Global market forecasts for energy capacity, power capacity, and revenue, segmented by region, application, and chemistry, extend through 2023.  The report also examines the key imminent and emerging technologies related to advanced batteries and provides in-depth profiles of the major industry players.  An Executive Summary of the report is available for free download on the Navigant Research website.

Contact: Richard Martin

+1.303.493.5483

richard.martin@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.

Register to Receive Updates

Sign up or login to receive free newsletters, research updates, access to webinars, and other analyst content from Navigant Research.

Research News

Rss
Spending on Energy Efficient Buildings in Europe Is Expected to Total Nearly $800 Billion From 2014 Through 2023
August 28, 2014Enforcement and activity vary widely from country to country, report finds • Buildings account for 40 percent of Europe’s final energy consumption, and thus represent a…
Read More »
Smart Grid as a Service Will Reach $11.2 Billion in Annual Revenue by 2023
August 26, 2014Benefits include reduced time to market and world-class security, report finds • While they represent a small part of the smart grid market today, smart grid…
Read More »
55 Million Electric Motorcycles and Scooters Will be Sold Worldwide from 2014 to 2023
August 25, 2014Harley Davidson’s entry will spur sales as growth accelerates in North America and Europe, report concludes • Driven by rising gasoline prices and increasingly congested city streets, more consumers are starting…
Read More »
Spending on Smart Grid Technologies Will Total Nearly $600 Billion From 2014 through 2023
August 20, 2014Intelligence is being distributed to the edges of the grid, report finds • The fundamental technology for infusing intelligence into the power grid has been in existence…
Read More »
View All News

{"userID":"","pageName":"Next-Generation Advanced Batteries Will Reach $9.4 Billion in Annual Revenue by 2023","path":"\/newsroom\/next-generation-advanced-batteries-will-reach-9-4-billion-in-annual-revenue-by-2023","date":"9\/2\/2014"}