LI-ION BATTERY MARKET
As I noted in the previous blog post, LI-ION BATTERY MARKET: 1995–2015 Growth and Drivers, Avicenne Energy, a market research and consulting firm, publishes a comprehensive report each year, “The Worldwide Rechargeable Battery Market.” The graph shows the actual growth of Li-ion battery use for portable electronics and electric vehicles since 2000, and the projected growth through 2025.
The Rechargeable Battery Market (source: Avicenne Energy)
Between 2000 and 2015, the Li-ion battery market was driven largely by new portable electronic devices, especially laptop and notebook computers, smartphones, and tablets. The use of Li-ion batteries for electric vehicles (EV) barely registered in 2010. However, EV use grew significantly between 2010 and 2015, and EV use is expected to increase fivefold between 2015 and 2025.
Li-ion battery use for portable devices is expected to double between 2015 and 2025. An important factor will be the growth of Li-ion battery use by wearable devices and micro-sensors, which are essential to internet-of-things connectivity (see LI-ION BATTERY MEGA TRENDS: Wearables and Internet of Things). With significantly less volume available to house batteries than tablets and smartphones, better battery performance is critical for wearable devices and micro-sensors. According to Avicenne, in the short-term higher capacity, thinner batteries in pouch cells will have the highest growth.
In the next post, I’ll examine the market forecast for wearable devices.