According to a new report from Navigant Research, the advanced batteries industry shipped 53.3 GWh of batteries in 2014, representing more than seven billion individual battery cells and more than $14 billion in sales.
Between 2013 and 2014, the industry’s growth rate increased 12.8% in terms of energy capacity and 7.1% 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. The advanced batteries industry remains in growth mode, and the majority of its products are manufactured in China and shipped around the world.—William Tokash, senior research analyst with Navigant Research
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 utilize flow batteries, advanced lead-acid, and sodium-metal halide batteries.
The report, Advanced Battery Tracker 4Q15, identifies developments and trends in the advanced batteries market by tracking the shipments of batteries around the world for 2014. The Tracker focuses on new market activity and market share analysis for the key application segments that utilize advanced batteries: automotive, stationary energy storage, and consumer electronics, including power tools. Comprehensive documentation is provided for energy capacity (MWh), power capacity (MW), cells shipped, and revenue for advanced batteries across all global regions and across all technologies.