Growth in lithium ion batteries for the vehicle electrification and grid energy storage sectors was significant in 2014, report finds
A new report from Navigant Research details global shipments of advanced batteries, including documentation on energy capacity, power capacity, cells shipped, and revenue, in 2014.
With increased sales of consumer electronics, particularly smart phones, plus growing interest in plug-in electric vehicles (PEVs) and grid management, demand for advanced batteries continues to rise. Between 2013 and 2014, the industry’s growth rate increased 12.8 percent in terms of energy capacity and 7.1 percent in terms of revenue. Click to tweet: According to a new report from Navigant Research, in 2014, the advanced batteries industry shipped 53.3 GWh of batteries, representing more than seven billion individual battery cells and more than $14 billion in sales.
“While the consumer electronics segment saw tepid growth in 2014, the vehicle electrification and grid energy storage sectors experienced significant increases in energy capacity and associated revenue,” says William Tokash, senior research analyst with Navigant Research. “The advanced batteries industry remains in growth mode, and the majority of its products are manufactured in China and shipped around the world.”
As far as battery chemistries, lithium ion (Li-ion) continues to be primarily used in consumer electronics, automotive electrification applications, and grid-energy storage, according to the report. The only major application segment with penetration by other chemistries is grid energy storage, where some systems utilize flow batteries, advanced lead-acid, and sodium-metal halide batteries.
The report, Advanced Battery Tracker 4Q15, identifies developments and trends in the advanced batteries market by tracking the shipments of batteries around the world for 2014. The Tracker focuses on new market activity and market share analysis for the key application segments that utilize advanced batteries: automotive, stationary energy storage, and consumer electronics, including power tools. Comprehensive documentation is provided for energy capacity (MWh), power capacity (MW), cells shipped, and revenue for advanced batteries across all global regions and across all technologies. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Lorenz
* The information contained in this press release concerning the report, Advanced Battery Tracker 4Q15, 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.