Competitive ladder of energy storage battery industry

Are Li-ion batteries the future of energy storage?

Li-ion batteries are deployed in both the stationary and transportation markets. They are also the major source of power in consumer electronics. Most analysts expect Li-ion to capture the majority of energy storage growth in all markets over at least the next 10 years , , , , .

Why are lead-acid batteries so popular?

The total vehicle market for lead–acid batteries is ~5 times greater than that based on new vehicles due to battery replacements (3-yr life). Although batteries are larger in medium- and heavy-duty vehicles, over 70% of all of the SLI energy storage (GWh) is in light-duty vehicles due to their significant advantage in total sales (Figure 24).

What are the different types of energy storage technologies?

This report covers the following energy storage technologies: lithium-ion batteries, lead–acid batteries, pumped-storage hydropower, compressed-air energy storage, redox flow batteries, hydrogen, building thermal energy storage, and select long-duration energy storage technologies.

Why did lead-acid batteries grow so fast in 2017?

As shown in Figures 25 and 26, 2017 was the start of rapid growth in lead–acid batteries for stationary markets . Figure 25 illustrates that growth is primarily fueled by strong demand in China, some in Europe, and little in the United States.

What is the fastest growing rechargeable battery segment?

Li-ion is the fastest-growing rechargeable battery segment; its global sales across all markets more than doubled between 2013 and 2018. The transportation sector dominates the Li-ion market and is also the fastest growing, with just 1% of automotive sales consuming 60% of Li-ion batteries .

What type of batteries are used in stationary energy storage?

The existing capacity in stationary energy storage is dominated by pumped-storage hydropower (PSH), but because of decreasing prices, new projects are generally lithium-ion (Li-ion) batteries.