While incremental improvements will extend the market dominance of Li-ion batteries into the next decade, a new generation of post-Li-ion battery technologies are rising and will be worth $10 billion by 2030, according to Lux Research.
In a new report titled “The Next-Generation Battery Roadmap: Quantifying How Solid-State, Lithium-Sulfur, and Other Batteries Will Emerge After 2020”, Lux Research analysts created an adoption roadmap for next-generation batteries, quantifying the market for each technology, and ranking emerging battery developers on the proprietary Lux Innovation Grid. Among their findings:
Transportation market is hotbed for new battery tech. Next-generation batteries will see explosive growth after 2030: Lithium-sulfur will jump from $6 billion in 2030 to $29 billion in 2035, while solid-state batteries will climb from $3 billion to $42 billion over the same period.
Solid-state will win in electronics. Solid-state batteries will earn $12 billion from electronics in 2035, enjoying a 39% market share. Lithium-sulfur, meanwhile, will see no significant adoption in electronics, due to energy density issues, ceding ground to advanced Li-ion.
Lux Innovation Grid calls out leaders. Imprint Energy, which makes thin-film batteries for electronics, and rapid materials developer Ilika are the “Dominant” solid-state companies on the Lux Innovation Grid. The lithium-sulfur landscape is sparser, with Oxis Energy and Boulder Ionics earning positive takes from Lux.
The report is part of the Lux Research Energy Storage Intelligence service.