Report finds longer-range electric vehicles and the promise of improved power quality for energy storage customers means continued growth for advanced batteries.
The shipment volume of advanced batteries through 3Q 2016 equates to more than 323.5 million individual battery cells and $3.8 billion in sales.A new report from Navigant Research tracks developments and trends in the advanced batteries market across the automotive and stationary energy storage segments from shipments through 3Q 2016, including energy capacity (MWh), power capacity (MW), cells shipped, and revenue, across global regions.
Through Q3 2016, demand for batteries as an alternative means to power electric vehicles (EVs) and support grid management systems showed steady growth and continues to grow globally due to the expansion of plug-in EVs (PEVs) and stationary grid-tied energy storage systems (ESSs). Lithium ion (Li-ion) remains the primary chemistry for light duty automotive applications, while the stationary energy storage sector has a more diverse chemistry landscape with technologies ranging from sodium sulfur and flow batteries to advanced lead-acid and hybrid chemistries.
“Markets for EV batteries and stationary energy storage are transitioning from heavily subsidized, pilot program-based industries to more economically viable systems as the confluence of regulatory policy, technological capabilities, and business models continue to drive interest forward,” says Ian McClenny, research associate with Navigant Research. “This transition is expected to see continued lower advanced battery pricing and maturing energy storage technology and delivery chains, leading to a healthier and more economically stable energy storage industry.”
The introduction of mass-market battery EVs with ranges of 150 to 200-plus miles has significant implications for the PEV market and EV service providers that supply the electricity to the vehicles, according to the report. Meanwhile, in the stationary storage market, advances in resiliency and improved power quality are important drivers for energy storage customers across all sectors.
The report, Advanced Battery Tracker 4Q16, identifies developments and trends in the advanced batteries market by tracking the shipments of batteries around the world through 3Q 2016. The Tracker focuses on new market activity and market share analysis for the key application segments that utilize advanced batteries: automotive and stationary energy storage. Comprehensive documentation is provided for energy capacity (MWh), power capacity (MW), cells shipped, and revenue for advanced batteries across all global regions and across multiple technologies. An Executive Summary of the report is available for free download on the Navigant Research website.
Filed Under: Energy storage