Download now: Cannabis Cash

Lithium-Ion Battery Technology Growth

Lithium-Ion Batteries Could Create a $22 Billion Market

Written by Swagato Chakravorty
Posted January 23, 2013 at 4:24PM

A new report from Pike Research indicates that improvements across the board in the lithium ion battery sector is likely to lead to a $22 billion market by 2020, from 2012’s roughly $1.6 billion.

From the Daily Finance:

"The Li-ion battery looks set to be the chemistry of choice for the on-board energy storage market for the foreseeable future, taking over from nickel-metal hydride, which has been the preferred battery for hybrids to date," says senior research analyst David Alexander. "Li-ion batteries can supply the much greater capacity needed for battery electric and plug-in hybrid vehicles, and 2012 saw the launch and announcement of new models from many manufacturers, all featuring Li-ion batteries."

Lithium ion technology developments are crucial to the wider emergence and acceptance of electric vehicles, as the high battery cost continues to be a major deterrent. But the report suggests these costs could come down to around $447 per kilowatt-hour by 2020.

The report offers a breakdown of the current market with projections under multiple scenarios. It includes revenue forecasts categorized by vehicle type, region, and other criteria.

Related Articles

Battery Life Improvement
GE, Ford, and the University of Michigan are teaming up to create a smart battery management system that could lead to longer-lasting EV batteries.
Battery Technology Advancements
As technology advances, consumers expect the batteries to advance too. So the Energy Department is investing $120 million to make that happen...
Zinc Battery Technology
Companies have been searching for the next generation in batteries to move beyond the stiff, bulky lithium-ion design. Imprint Energy's design may be the solution.