Next Generation Advanced Batteries Market Poised for Fruitful Future

Published On : 17 Aug 2018

The requirement of batteries has moved beyond merely lighting purposes to a mode that provides energy portably, efficiently, and reliably. And although there has been strong progress made by the commercially available lithium batteries, advanced lead-acid, molten salt batteries, and flow batteries, the research and development of the next generation advanced batteries continues while harnessing the possibilities with chemistry. In the near future, a number of proposed concepts are expected to gain commercialization and consequently, the market for next generation advanced batteries is poised for an exuberantly healthy future, according to a recent business publication by QYResearchReports. The report is titled “Global Next-Generation Advanced Batteries Sales Market Report 2018.” The report has been constructed for audiences including battery manufacturers, automotive industry players, and government agencies.

Safety Concerns Brining Shift Off Li-On Batteries

The analyst of the report has observed that Li-on batteries are currently getting utilized mainly across the transportation and grid-led energy storage facilities that are stationary. However, there are long term limitations such as those pertaining to energy density, cost, and safety. Therefore, Li-on market share is consistently losing to next generation advanced batteries as they can match the safety expectations.

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A number of experts believe that LIBs are closing into their technical limits, owing to their shortcoming including inadequate energy density, significantly high costs, substantially longer time span for recharging, short life cycles, and safety concerns. In the recent time, paradigm shift has happened in terms of the development of another stable anode and cathode materials which have the ability to attain greater power capacities, high energy, longer lifetimes, and are safe. Moreover, the manufacturing of these next generation advanced batteries is also expected to be more cost efficient than the traditional ones. 

A number of Alternatives Available

Metal-air batteries, Mg-ion, Ni-ion, Al-ion and Na-ion, Advanced electrolyte and electrolyte additives, Lead acid, and Electrode architectures and 3D battery electrode design are some of the alternatives that are currently being furiously harnesses for their potential commercialization. 

Some of the leading companies currently pioneering the field of next generation advanced batteries are Lockheed Martin, PATHION, OXIS Energy, Nohm Technologies, GS Yuasa, Sion Power, Pellion Technologies, PolyPlus, Solid Power, Seeo, Fluidic Energy, 24M, Amprius, Phinergy, Ambri, Maxwell, and ESS. Most of these companies are findings great new opportunities across all regions and countries, but mainly out of the developed countries of the U.S. as well as the emerging economies of China, India, Japan, and Russia. 

Based on product type, the next generation advanced batteries market can be segmented into ultracapacitors, metal air, solid electrodes, magnesium ion, lithium sulfur, and others. On the basis of application, the market can be bifurcated into consumer electronics, energy storage, and transportation.

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