A critical factor for all non-lithium ion companies will be a continued ability to reduce costs in the coming years
A new Leaderboard Report from Navigant Research examines the strategy and execution of 13 vendors of non-lithium ion (Li-ion) batteries for grid storage.
Despite the popularity they’ve gained in the last couple years—thanks to increases in manufacturing capacity and sales volumes from the complementary electric vehicle industry—Li-ion batteries are not well-suited for all stationary storage applications. Many non-Li-ion battery technology providers, ranging from startups to well-established corporations, are recognizing an opportunity to capture a piece of the industry by offering alternative technologies such as flow batteries, advanced lead-acid batteries, and zinc-based batteries. Click to tweet: According to a new Leaderboard report from @NavigantRSRCH, in terms of strategy and execution, ViZn Energy and Sumitomo Electric are the leading vendors of non-Li-ion batteries for grid storage.
“The leaders that have emerged in this market have been able to leverage either the low cost of their technology, the strong technical capabilities of their products, or their financial strength and industry experience to win new projects,” says Alex Eller, research analyst at Navigant Research. “However, despite the advantages of these technologies, Li-ion batteries have significant momentum in storage markets worldwide. Any companies with competing technologies must continually reduce costs and hone their strategy to capitalize on the advantages their technologies pose.”
The grid energy storage industry is projected to maintain its global pattern of rapid growth over the coming years, according to the report. As the market develops further, companies that define strategies and look to grow their capabilities now will be best positioned for success.
The report, Navigant Research Leaderboard: Non-Lithium Ion Batteries for Grid Storage, evaluates the Strategy and Execution of 13 leading non-Li-ion battery energy storage providers. These companies are rated on 12 criteria: vision; go-to-market strategy; partners; production strategy; technology; geographic reach; sales, marketing, and distribution; product performance; product quality and reliability; product portfolio; pricing; and staying power. Using Navigant Research’s proprietary Leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the global market for non-Li-ion batteries for grid energy storage. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Navigant Research Leaderboard: Non-Lithium Ion Batteries for Grid Storage, 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.