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Global Growth Opportunities for Advanced Lithium Batteries for EVs and the Adoption of Future Battery Chemistries

  • Report
  • August 2022
  • Region: Global
  • Frost & Sullivan
  • ID: 5645213

Lithium-Sulfur, Sodium-Ion, and Solid-State Batteries Are Likely to be Adopted for EV Applications Between 2025 and 2030

The widespread adoption of electric vehicles (EVs) has increased the need for efficient battery solutions, augmented safety, and an extended life span. To date, lithium-ion (Li-ion) batteries have been predominantly used in electric powertrain; however, the adoption of Li-ion battery chemistries such as nickel cobalt aluminum oxide (NCA), nickel manganese cobalt oxide (NMC), and lithium iron phosphate (LFP) has also gained momentum. As demand rises, battery costs will reduce from more than $1,000/kWh in 2010 to $100-$110/kWh in 2022 (and reduce even further beyond this). Many research institutions, battery suppliers, and key OEMs are collaborating to develop future battery chemistries with effective material performance, reduced production costs, and enhanced safety. As future chemistries (solid state, sodium ion, lithium sulfur) evolve, they will offer improved safety, increased energy density, and fast-charging capabilities, thereby overcoming the challenges associated with traditional Li-ion batteries.

Almost all the major suppliers, including CATL, LG Chem, and Panasonic, have ramped-up production capacities. The EV battery market has grown from 4,892 MWH in 2013 to 296,657 MWH in 2021 at a CAGR of 55.7%. These companies think that future battery chemistries will be a game-changing technology for EVs. Several suppliers and OEMs have signed contracts with research institutions to develop and expand future battery chemistry technologies.

This study discusses global growth opportunities for advanced lithium batteries for EVs and the adoption of future battery chemistries; some of the topics covered are disruptive technologies impacting the market; the technology readiness level of future batteries; key automakers' investments in gigafactories; a performance comparison of existing battery chemistries and future chemistries; OEM preferences in terms of adopting solid-state battery technologies; and challenges and roadblocks to commercialization. The research service also analyzes the patent landscape for future chemistries such as solid-state, sodium-ion, lithium-sulfur, and lithium-air batteries.

Table of Contents

1. Strategic Imperatives
  • Why Is It Increasingly Difficult to Grow?
  • The Strategic Imperative 8™
  • The Impact of the Top 3 Strategic Imperatives on Advanced Lithium Batteries for EVs
  • Growth Opportunities Fuel the Growth Pipeline Engine™
2. Growth Environment
  • Technology Roadmap for Evolving Battery Chemistries
  • Technology Readiness Level by Battery Chemistry
  • OEM Adoption of Current versus Future Chemistries
  • Key OEMs’ Adoption of Solid-state Batteries
  • Patent Landscape - Future Battery Chemistries
  • Key OEMs’ Investments in Gigafactories
3. Growth Opportunity Analysis
  • Scope of Analysis
  • Key Questions This Study Will Answer
  • Lithium Battery Classification by Battery Type
  • Growth Metrics
  • EV Battery Market Outlook by Battery Capacity
  • EV Battery Market Outlook by Battery Chemistry
  • Top 10 EV Battery Cell Suppliers
  • Top 10 EV Manufacturers
  • Battery Capacity - Average Range of EVs
  • Battery Specification Roadmap - Lithium Ion
  • Solid-state Batteries versus Lithium-ion Batteries
4. Patent Analysis - Current versus Future Chemistries
  • Patent Overview - NMC
  • Top Forward Citations
  • Patent Overview - LFP
  • Top Forward Citations
  • Patent Overview - Solid-state Batteries
  • Top Forward Citations
  • Patent Overview - Sodium-ion Batteries
  • Top Forward Citations
  • Patent Overview - Lithium-sulfur Batteries
  • Top Forward Citations
5. Key Market Trends - Current versus Future Battery Chemistries
  • Evolution of Battery Technologies
  • Performance Comparison by Different Battery Types
  • Battery Chemistry by Application
  • Future Developments in Battery Sensing Technology
  • Future Developments in Battery Technology
6. Future Battery Chemistries - Paradigm Shift to Solid-state Batteries
  • Key Value Proposition of Solid-state Batteries
  • Solid-state Batteries for EVs
  • Types of Solid-state Electrolytes
  • Roadblocks for Solid-state Battery Commercialization
  • Evolving Ecosystem of Solid-state Batteries
7. Future Battery Chemistries - Lithium Sulfur
  • Key Value Proposition of Lithium-sulfur Batteries
  • Lithium-sulfur Batteries for EVs
  • Roadblocks for Lithium-sulfur Battery Commercialization
  • Evolving Ecosystem of Lithium-sulfur Batteries
8. Alternative Battery Chemistries - Sodium Ion/Lithium Air/Aluminum Air
  • Key Value Proposition of Sodium-ion Batteries
  • Sodium-ion Batteries for EVs
  • Key Value Proposition of Lithium-air Batteries
  • Lithium-air Batteries for EVs
  • Key Value Proposition of Aluminum-air Batteries
  • Aluminum-air Batteries for EVs
  • Roadblocks for Sodium-ion/Li-Air/Al-Air Commercialization
  • Evolving Ecosystem of Sodium-ion/Al-Air/Li-Air Batteries
  • Impact of the Russo-Ukrainian War on Battery Chemistries
9. Growth Opportunity Universe
  • Growth Opportunity 1 - Adoption of Future Battery Chemistries for EVs
  • Growth Opportunity 2 - Strategic Partnerships
  • Growth Opportunity 3 - Thermal Management
  • Key Conclusions and Future Outlook
10. Next Steps
  • Your Next Steps
  • List of Exhibits

Companies Mentioned

A selection of companies mentioned in this report includes:

  • CATL
  • LG Chem
  • Panasonic