Is the Future Rosy for Lithium Ion Batteries?

Posted by Michael Pederson on January 29th, 2022

Over the last few months, lithium ion battery have been making headlines. This is because significant progress has been made to extend their charge capacities and make them more compatible with electric vehicles. Pike Research is a well-known research organization in the area of new energy. Today, they released a report that predicts that lithium ion will see a dramatic increase in sales over the next 8 years.

What are the sales figures for lithium-ion battery?

According to the research note, sales of .6Billion in 2012 will increase to close to Billion by 2020 as electric technology, in particular light-duty vehicles, grows in popularity. This area of technology has been the subject of a lot of media attention in recent weeks. There are signs that both electric car and battery manufacturers are willing to invest hundreds upon millions of dollars in this technology.

Whats the sudden jump?

Although sales of electric cars suffered in 2012 due to poor economic conditions, there is hope for 2013 and new technologies related to battery power. There is too much investment already made in the lithium ion battery and electric vehicle markets to reverse the trend. The government\\'s policies are now aimed at reducing environmental damage while introducing more efficient modes of transport.

Lithium Ion Batteries have been the choice of the electric vehicle industry, and it seems that this trend will continue.

What does mean for the EV market

One of the biggest concerns for the electric vehicle market is that the journey and battery capacities are not as high as those of traditional fuel-powered vehicles. Initial investments in electric vehicle manufacturing were billions of dollars. However, some companies neglected the technology related to battery power. This has changed somewhat in the last few months as there are signs that significant progress has been made. The 2013 introduction of lithium ion batteries will significantly increase battery capacity and journey capacity.

Many countries have already committed hundreds of millions of dollars to state aid for the electric car market and the lithium-ion battery industry. This aid has been received well by the sector. Consumers will also be more aware of the enhanced performance and greater journey capacity.

Reducing costs for electric vehicles

As the price of electric cars falls, as technology improves and mass market appeal is achieved, it will increase sales, which will in turn increase lithium ion batteries sales. This has already happened, although it is somewhat complicated by the various incentives and subsidies offered by the government. The trend towards lower prices for EVs will continue, and we will see increased vehicle adoption.

Conclusion

Many EV manufacturers focused solely on EV technology and left the lithium ion batteries market behind. Many have come to terms with this fact and substantial investment funding has been moved away from electric cars towards battery power and lithium ion cells. This bodes well not only for electric vehicles, but also for lithium ion battery markets which are expected to grow rapidly over the next eight-years.

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