Dublin, April 06, 2023 (GLOBE NEWSWIRE) -- The "Next-Generation Advanced Batteries: Global Markets" report has been added to ResearchAndMarkets.com's offering.
This report analyzes the global and regional markets for the next-generation advanced battery. In the battery type segment, solid-state batteries, lithium-sulfur batteries, next-generation flow batteries, metal-air batteries and others (magnesium ion batteries, sodium-sulfur batteries, sodium-ion batteries) are considered. We have omitted lithium-ion batteries, as well as any battery related to lithium-ion, from the scope.
An ever-expanding range of portable devices, including those formerly powered by primary cells or first-generation rechargeables, are powered by improved next-generation batteries (flashlights, radios, etc.).
Hybrid electric vehicles, cell phones, cellphones, laptops and tablets are just a few examples of devices that would not be practicable or convenient without next-generation batteries. There is still room for growth in plug-in electric vehicles' new military battery industries. Utility load leveling, wind farm power storage and distant power generation applications of extremely advanced batteries are also being investigated.
Electrification fueled by renewable energy, which includes the electrification of cars (e-mobility), buildings and cities, is the way to decarbonize the planet and fight climate change. The best method to transition to a green economy is to boost the use of renewable energy sources like solar, wind and hydropower, as well as other low-carbon technologies like electric vehicles, storage, and the use of microgrids and smart grids. By removing greenhouse gas emissions from the atmosphere, electrification can reduce the effects of global warming.
The output of minerals like lithium, cobalt and graphite is anticipated to increase significantly due to the growing demand for clean energy technology such as batteries, wind turbines, solar panels or electric vehicles. Efforts to electrify the economy and develop technology rely on next-generation batteries, considering that they surpass conventional batteries in terms of performance, efficiency and safety. The quick response, modular construction and flexible battery installation has enabled the transportation sector's decarbonization and increased grid integration of intermittent renewable energy technologies.
By filling in the gaps left by wind and solar power plants' variable production and reducing energy waste, batteries help utilities and grid operators maintain the dependability of the electrical system. According to IRENA(International Renewable Energy Agency), battery systems can upgrade mini grids, enable the 'self-consumption' of rooftop solar power and store electricity in electric vehicles, providing frequency response, reserve capacity, black-start capability (restoring an electric power system) and other grid functions.
The impending challenges are primarily related to the impact of the Russian invasion of Ukraine. Russia is a significant supplier of the metals required for EV batteries and the whole renewable energy industry, from wind turbines to solar panels. The crisis in Ukraine has reversed a decade of declining costs in the green technology sector, along with ongoing COVID-19 supply chain disruptions, logistical constraints, and surging worldwide inflation. This has resulted in a delay in adopting low-carbon technology around the globe.
Report Includes
- A comprehensive overview of the global and regional markets for the next-generation advanced battery technologies
- Analyses of the global market trends with market revenue (sales figures) for 2021, estimates for 2022, forecasts for 2023, and projections of compound annual growth rates (CAGRs) through 2027
- Estimation of the actual market size for the global next-generation advanced battery technologies market both in value and volumetric terms, revenue forecast, and corresponding market share analysis based on the battery type, end use, and region
- Discussion of the major market drivers and opportunities in next-generation advanced battery, key shifts and regulations, industry specific challenges, and other region-specific macroeconomic factors that will shape this market demand in the coming years (2022-2027)
- Highlights of the recent advances made in next-generation advanced battery manufacturing and recycling, their commercial applications, industry structure, and a global supply chain analysis providing systematic study of all key intermediaries involved
- Coverage of the technological, economic, and business considerations of the global next-generation advanced battery technologies market through 2027
- Insight into the company competitive landscape and market share analysis of the major companies operating in the industry, and coverage of their proprietary technologies, strategic alliances, and other market strategic advantages
Market Dynamics
Market Drivers
- Growing Demand for Electric Vehicles Globally
- Tax Incentives and Regulatory Assistance for Plug-In Hybrid Electric Vehicles
- Increasing Interest Concerning Exhausting Valuable and Rare Earth Metals
- Demand for Consumer Electronics is Growing
- Outline of the Prototype of Battery-As-A-Service
Market Restraints
- High Capital Cost for Electric Vehicles Compared to the Conventional Ice Vehicles
- Difficulty of Solid-State State Battery Production
Market Challenges
- Lithium is Less Readily Available for Use in Electric Vehicles Batteries
- Manufacturing a Solid-State Battery is Costly
- High Expense of Lithium Extraction from Used Lithium-Ion Batteries Recycling
- Battery and Related Component Supply Chain Disruptions Brought on by Covid-19
Market Opportunities
- Strict Emission Regulations Creating a Market for Electric Vehicle Sales
- Government Efforts Relating to Electric Vehicles
- Increasing Investments in Battery Recycling Sector
- Growing Partnerships and Investments Between Automobile Manufacturers and Solid-State Battery Companies
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 161 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $87.6 Billion |
| Forecasted Market Value (USD) by 2027 | $1821 Billion |
| Compound Annual Growth Rate | 83.5% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Chapter 4 Market Dynamics
Chapter 5 Market Breakdown by Battery Type
5.1 Overview
5.2 Solid State Battery
5.3 Lithium-Sulfur Battery
5.4 Next-Generation Flow Batteries
5.5 Metal-Air Battery
5.6 Others
Chapter 6 Market Breakdown by End Use
6.1 Overview
6.2 Consumer Electronics
6.3 Electrical Vehicles
6.4 Energy Storage
6.5 Others
Chapter 7 Market Breakdown by Region
Chapter 8 Patent Analysis
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
Companies Mentioned
- Brightvolt
- Contemporary Amperex Technology Ltd. (Catl)
- Cymbet
- Ess Inc.
- Gpindustrial
- Gs Yuasa Corp.
- Ilika plc
- Ion Storage Systems
- Ngk Insulators Ltd.
- Polyplus Battery Co.
- Primus Power Corp.
- Quantumscape Corp.
- Saft
- Ses Ai Corp.
- Sion Power
- Solid Power
- Vizn Energy Systems Inc.
- Zaf Energy Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/y5d2i4
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