A new report from Navigant Research examines the current market for advanced batteries (defined as mass-produced products aimed at the automotive or stationary energy storage sectors). In the first three quarters of 2016, Navigant says, over 323 million individual battery cells were shipped, representing 16.1 GWh of energy capacity and $3.8 billion in sales.
The majority of these batteries were manufactured in the Asia Pacific region.
Lithium-ion remains the dominant chemistry for automotive applications, but the stationary storage sector uses a more diverse range of chemistries, including sodium sulfur, flow batteries, advanced lead-acid and hybrid chemistries.
Demand for batteries showed steady growth over the three quarters, and continues to rise globally, thanks to the growing market for EVs and grid-tied energy storage systems. Navigant expects the introduction of second-gen EVs with ranges over 200 miles to have significant implications for the market.