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

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

Lithium-sulfur, sodium-ion, and solid-state batteries are likely to be adopted for EV applications between 2025 and 2030

RELEASE DATE
25-Jul-2022
REGION
North America
Research Code: PC64-01-00-00-00
SKU: AU02346-GL-MT_26616
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Description

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 Frost & Sullivan 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.

Author: Aman Gupta

Table of Contents

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™

Growth Environment

Growth Environment (continued)

Growth Environment (continued)

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

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

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

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

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

Key Value Proposition of Lithium-sulfur Batteries

Lithium-sulfur Batteries for EVs

Roadblocks for Lithium-sulfur Battery Commercialization

Evolving Ecosystem of Lithium-sulfur Batteries

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

Growth Opportunity 1—Adoption of Future Battery Chemistries for EVs

Growth Opportunity 1—Adoption of Future Battery Chemistries for EVs (continued)

Growth Opportunity 2—Strategic Partnerships

Growth Opportunity 2—Strategic Partnerships (continued)

Growth Opportunity 3—Thermal Management

Growth Opportunity 3—Thermal Management (continued)

Key Conclusions and Future Outlook

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

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Related Research
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 Frost & Sullivan 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. Author: Aman Gupta
More Information
Author Prajyot Sathe
Industries Automotive
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Is Prebook No
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WIP Number PC64-01-00-00-00