The future of lithium-ion batteries looks very optimistic and prosperous with emergence of large grid scale battery storage, e-vehicles, charging stations and innovations in renewable energy efficiencies.
According to Transilience Market Research, Global Automotive Battery Market is valued at USD 48.23 Billion (€ 41.47 Bn) in 2019 and expected to reach USD 74.06 Billion (€ 63.69 Bn) by 2026 with the CAGR of 6.3 % over the forecast period.
Over the past twenty years energy and power densities of automotive batteries at engine starting rates have doubled. Rising developments in the production of batteries and emerging use of thin plates with optimized grid design and low-resistance polyethylene separators with a thin back web and a reduced rib height are offering several growth opportunities for the market.
Large scale grid storage is becoming ever more of a reality everyday as innovative battery technologies are providing an abundant kWh storage capacity compared to initial cost. Companies that are currently focusing on these large grid-scale storage facilities will assist in lowering the costs of renewable, electric vehicles, and energy as a whole to be extremely competitive with fossil fuels, if not more attractive.
For instance, NAWA Technologies a company based in France has designed and patented an Ultra-Fast Carbon Electrode, which is says is a game-changer in the battery market. Company is offering a vertically-aligned carbon nanotube (VACNT) design and says it can lift battery power tenfold, increase energy storage by a factor of three and increase the lifecycle of a battery five times. Company says that 1000km range could become the norm, with charging times cut to 5 minutes to get to 80 per cent. The technology could be in production as soon as 2023. The company believes electric vehicles will benefit more from the innovation and will help in reducing carbon footprint and cost of battery production.
Read full report on Global Automotive Car Battery Market by published by TRANSILIENCE MARKET RESEARCH: https://transiliencemarketresearch.com/shop/automotive-and-transportation/global-car-battery-accessories-market-2020-by-type-automotive-battery-boxes-automotive-battery-caps-automotive-battery-clampsautomotive-battery-disconnect-switches-and-othersby-application-pass/