Worldwide Capacity of Lithium Ion Batteries for Electric Vehicles Will Multiply More than 10-Fold by 2020

May 17, 2013

Improvements in lithium ion (Li-ion) battery technology are helping to accelerate the worldwide market for electric vehicles (EVs).  In the last few years, automakers have shifted from nickel-metal hydride (NiMH) batteries to Li-ion batteries.  This shift represents a major endorsement of Li-ion chemistry and its ability to perform consistently in an automotive environment.  According to a recent report from Navigant Research, total worldwide capacity of Li-ion batteries for transportation applications will increase more than ten-fold, from 4,400 megawatt-hours (MWh) in 2013 to nearly 49,000 MWh by 2020.

“Li-ion technology continues to improve, as increased energy densities translate into smaller and lighter battery packs with more power,” says David Alexander, senior research analyst with Navigant Research.  At the same time, leading battery cell manufacturers have built new factories utilizing the latest production techniques, including greater automation and faster throughput. This will lead to a reduction in the cost per kilowatt-hour (kWh) over the next few years, provided that volumes continue to increase.”

The market for Li-ion batteries will primarily be driven by the growth of battery electric vehicles (BEVs), as they utilize much larger battery packs than plug-in hybrid electric vehicles (PHEVs).  Today’s BEVs use battery packs ranging from 16 kWh to 85 kWh, compared to PHEVs that typically use packs ranging from 4 kWh to 16 kWh.  Additionally, many recently introduced hybrid vehicles, such as the Honda Civic Hybrid, use Li-ion batteries, and the percentage of hybrids using Li-ion technology is expected to grow steadily as automakers update their models.

The report, “Electric Vehicle Batteries”, provides a detailed examination of the growing market for Li-ion batteries, including profiles of all of the leading Li-ion battery manufacturers. Forecasts for revenues from Li-ion batteries, segmented by vehicle type, are included, along with vehicle roadmaps for hybrid, PHEV, and BEV sales by region. The report also includes a review of competing energy storage technologies, including ultracapacitors and nickel-metal hydride batteries.  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, “Electric Vehicle 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
Global Sales of Fuel Cell Cars and Buses Are Expected to Total More Than 580,000 from 2015 to 2024
Developing hydrogen fueling infrastructure is key to increasing volume of fuel cell vehicle rollouts • A recent report from Navigant Research analyzes the market for fuel cell passenger cars…
Read More »
Alternative Powertrain Sales for Medium and Heavy Duty Vehicles are Expected to Reach 820,000 in 2026
Different powertrains and new technologies will help reduce emissions and increase fuel efficiency in medium and heavy duty vehicles • A new report from Navigant Research examines the market for technologies to improve efficiency…
Read More »
New Energy Storage Deployments in Major World Markets Are Expected to Total Nearly 62 GW from 2015 to 2025
The United States and China are expected to see substantial growth in energy storage deployments in the coming decade • A recent report from Navigant Research examines the market for grid-tied energy storage systems…
Read More »
Annual Global Smart City Revenue is Expected to Reach $88.7 Billion by 2025
Adoption of smart city solutions to accelerate over the next two years as spread of Internet of Things technologies provides further momentum • A new report from Navigant Research analyzes the global smart city market, with a…
Read More »
View All News

{"userID":"","pageName":"Worldwide Capacity of Lithium Ion Batteries for Electric Vehicles Will Multiply More than 10-Fold by 2020","path":"\/newsroom\/worldwide-capacity-of-lithium-ion-batteries-for-electric-vehicles-will-multiply-more-than-10-fold-by-2020","date":"7\/25\/2016"}