The CBI (Consortium for Battery Innovation) says society is in the midst of a golden age for batteries. In fact, the consortium says in 2020, the global lead battery market was worth $37.5 billion, but in the next decade, the market will grow to $49 billion, thanks to an increase in demand for batteries across applications—including automotive and e-mobility, telecoms, and renewable power and other energy-storage applications.
According to research by GlobalData, the global battery energy storage market is expected to exceed $11 billion in 2025. The U.S. DOE (Dept. of Energy)’s latest market report covering the energy storage market suggests that by 2030, stationary and transportation energy storage markets will grow 2.5-4 TWh (terawatt hours) annually, which is about three to five times the current market. In the EV (electric vehicle) market alone, the DOE expects steep growth. For instance, as EV adoption continues globally and more auto manufacturers ramp up production of EVs, the DOE expects mobility storage demands in 2030 of 0.8-3 TWh, with the demand for light-duty EVs “dominating” near-term markets.
The impetus behind all of this growth isn’t hard to identify. As global warming moves beyond politics into the realm of accepted reality, the CBI says the imperative for decarbonization is greater than ever, and battery energy storage is integral in the move to electrification—including but not limited to hybrids and EVs. Wood Mackenzie’s latest quarterly market report suggests the U.S. is on track for a record-setting year in terms of battery storage installation, which the firm says underlies the importance of battery storage in the nation’s transition to clean energy.
The CBI says in addition to the shift from gasoline-powered vehicles to battery-powered vehicles, there is also a big push for batteries in the telecom world, because the need for reliable power for data centers is central to maintaining communications. The consortium recently launched its latest technical roadmap designed to help advance and deliver the next generation of lead batteries.
The new roadmap sets a path for achieving enhanced high-performing and resilient lead batteries. For several applications, the roadmap lays out key research pathways to help lead batteries advance to their next appropriate level. For instance, research pathways for automotive applications include studying how BMS (battery management systems), SoC (state of charge), and SoH (state of health) measurement techniques improve charging and battery life. Research pathways for energy-storage applications include improving cycle life and energy throughput using carbon additives and new expander materials capable of lower operational costs.
Guided by various market assessments, the roadmap acts as a guide to help market players meet sustainable targets set by governments, while also helping them deliver the innovation needed to maximize opportunities for batteries in key markets. From EVs and energy-storage systems to industrial applications and e-bikes, society has entered a period in which batteries are necessary to power the present and the future. As the focus on clean energy continues to sharpen across the board, electrification will be a huge trend of this century, and it can’t happen without the continued innovation of high-performance, efficient, low-maintenance batteries that offer maximum service life.
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