Energy Storage

Electric construction, agriculture, and mining (CAM) machines promise health, environmental, and productivity benefits, while also acting as long-term financial investments for companies. The battery market for CAM machines is expected to reach US$8 billion by 2034.

In this article, IDTechEx Research Director Dr Alex Holland takes a look at the falling battery costs and how this will affect the Li-ion battery market long term.

Li-ion batteries remain the dominant electrochemical energy storage technology in the global market. Other battery storage technologies, such as redox flow batteries, Na-ion batteries, and metal-air batteries, have continued to remain as emerging technologies with a limited volume of deployments in the last few years.

As global lithium demand increases and regulatory landscapes shift, DLE's (direct lithium extraction) role in the evolving battery supply chain merits closer examination. IDTechEx predicts DLE to disrupt the brine mining market, with a CAGR (compound growth rate) of 19.6%, making it the fastest-growing segment in the industry.

IDTechEx's report includes details on thin, flexible batteries for micro-power applications, and the gradual move towards sustainable alternatives.

With over 100 million electric vehicles (EVs) expected to reach end-of-life over the next two decades, IDTechEx's latest report predicts that the value of critical materials recovered annually by 2045 will surpass US$100B.

Thursday 26 September 2024 - Insights on the Li-ion Battery Market: Opportunities and Challenges Ahead. Recent trends and developments in the Li-ion market; Discussion on various chemistry choices being made; Key technology innovations and developments; Cost and price trends

Wednesday 25 September 2024 - Unlocking Lithium Brine Potential: The Role of Direct Lithium Extraction. Lithium Mining and Extraction: Fundamentals and Current Practices; Direct Lithium Extraction (DLE): A Comprehensive Overview; Sorbent-Based DLE Technology: In-Depth Exploration; Evolving Business Models in the DLE Market; Sustainability and Cost Benchmarks Across Lithium Extraction Methods; Lithium Market Outlook: Drivers, Challenges, and Emerging Trends in DLE

While there has been strong growth in the stationary battery sector, electric vehicles remain the key driver behind the Li-ion market, and electric cars will be the largest market for Li-ion batteries over the next 10 years. Although there are some regional concerns over the rate of EV adoption in 2024, sales of electric vehicles grew rapidly in 2022 and 2023, and the medium-long-term outlook for EV adoption remains strong.

Thursday 29 August 2024 - Applications of BESS for grid-scale and residential battery storage markets; Overview of global Li-ion battery storage market growth, regional activity, market dynamics and trends; Comparisons across battery storage technologies, and discussion on the current and future position of Li-ion in the energy storage market; Trends observed and analysis on these trends, including cell chemistry, energy density, safety, and thermal management in Li-ion battery storage technologies; IDTechEx's outlook and conclusions on the global Li-ion BESS market.