Global Next-Generation Advanced Batteries Markets, 2021-2022 & 2023-2027 – Growing Partnerships and Investments Between Automobile Manufacturers and Solid-State Battery Companies
DUBLIN, April 13, 2023 /PRNewswire/ — The “Next-Generation Advanced Batteries: Global Markets” report has been added to ResearchAndMarkets.com’s offering.
Global Next-Generation Advanced Batteries is projected to reach a value of $1,821 billion by 2027 from $87.6 billion in 2022, growing at a CAGR of 83.5%
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.
Market data in this report quantifies opportunities for manufacturers of next-generation advanced batteries. In addition to identifying various battery types and applications, it also covers the many issues concerning the merits and prospects for the next-generation advanced battery. This includes corporate strategies, emerging technologies and the means for providing low-cost, high-technology products. The report also covers many economic and technological issues critical to the industry’s current state.
The report has been prepared in a simple, easy-to-understand format; and tables and figures are included to illustrate historical, current and future market scenarios.
The report also covers leading companies with information on the next-generation advanced battery, business footprints, revenues and employee strength, among other factors. The report also includes a list of other companies in the global market along with their product-related information.
This report has considered the impacts of COVID-19 and the Russia–Ukraine war on the global and regional markets. For purposes of this report, 2021 is considered a historical year, 2022 is the base year, and the market values are forecasted for five years from 2022 to 2027.
- 16 data tables and 36 additional tables
- 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
- Company profiles of major players within the industry, including Sion Power Corp., Contemporary Amperex Technology Co. Ltd., PolyPlus Battery Co., GS Yuasa Corp., and Sion Power Corp.
Short-Term and Long-Term Impact of Market Dynamics
Key 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 (Baas)
- High Capital Cost for Electric Vehicles Compared to the Conventional Ice Vehicles
- Difficulty of Solid-State State Battery Production
- Key Challenges for Next-Generation Advanced Battery Market
- 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
- 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
- Investments Made by Big Players
- Developments in the Next-Generation Advanced Battery Industry
- Contracts and Agreements in the Electric Vehicle Industry
- Mergers and Acquisitions in the Electric Vehicle Industry
- Battery R&D Organizations
Technological Background and Advancements
- Battery Technology History
- Evolution of the Battery
Value Chain Analysis
- Raw and Processed Materials
- Cell Component Manufacturing
- Cell Manufacturing
- Battery Pack Manufacturing
- End Uses
Porter’s Five Forces Model
Impact of Russia-Ukraine War
- Contemporary Amperex Technology Ltd. (Catl)
- Ess Inc.
- Gs Yuasa Corp.
- Ion Storage Systems
- Ilika plc
- Ngk Insulators Ltd.
- Polyplus Battery Co.
- Primus Power Corp.
- Quantumscape Corp.
- 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/i6zpuu
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/global-next-generation-advanced-batteries-markets-2021-2022–2023-2027—growing-partnerships-and-investments-between-automobile-manufacturers-and-solid-state-battery-companies-301796983.html
SOURCE Research and Markets
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Agrigate Global takes no editorial responsibility for the same.