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, according to a report from Navigant Research
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 storage capacity and 7.1 percent in terms of revenue.
“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 use flow batteries, advanced lead-acid, and sodium-metal halide batteries.