The global market for next-generation advanced batteries is estimated to increase from $87.6 million in 2022 to reach $1.8 billion by 2027, at a compound annual growth rate (CAGR) of 83.5% from 2022 through 2027.
The global market for electric vehicle batteries is estimated to increase from $66.4 billion in 2023 to reach $161.3 billion by 2028, at a CAGR of 19.4% from 2023 through 2028. The global market for EV insulation is estimated to increase from $3.1 billion in 2023 to reach $9.1 billion by 2028, at a CAGR of 24.4% from 2023 through 2028.
Batteries are vital to power numerous systems across diverse use cases, such as consumer electronics, energy storage systems, and electric vehicles (EVs). In the present scenario, most battery-powered devices such as tablets, smartphones, energy storage sy stems, and EVs rely majorly on lithium-ion (Li- ion) batteries, which are capable of storing significant amounts of energy in a small form factor and can charge quickly. However, there is a growing demand for new battery technologies to rival Li-ion batteries in terms of cost, efficiency, safety, and sustainability. Therefore, battery manufacturers are continuously striving to find battery chemistries that are cheaper, lighter, denser, and more powerful than conventional Li-ion battery systems.
Advanced battery technologies such as solid-state, lithium-sulfur, and next-generation flow batteries are at the forefront of innovation as a promising alternative to traditional battery systems to offer superior efficiency, energy storage capabilities, and safety. While spending significant resources on R&D for advanced battery solutions, manufacturers are also optimizing the existing Li-ion battery technology, which still dominates the EV market due to the established supply chains and manufacturing and distribution networks.
With the surge in the adoption of batteries for EVs, thermal management and insulation technologies have become critical to ensure occupant safety, battery performance, and longevity. Materials such as ceramics and foamed plastics are used for insulation applications to leverage high-temperature resistance properties and electrical insulation.
Advanced battery technologies such as solid-state, lithium-sulfur, and next-generation flow batteries are at the forefront of innovation as a promising alternative to traditional battery systems to offer superior efficiency, energy storage capabilities, and safety. While spending significant resources on R&D for advanced battery solutions, manufacturers are also optimizing the existing Li-ion battery technology, which still dominates the EV market due to the established supply chains and manufacturing and distribution networks.
With the surge in the adoption of batteries for EVs, thermal management and insulation technologies have become critical to ensure occupant safety, battery performance, and longevity. Materials such as ceramics and foamed plastics are used for insulation applications to leverage high-temperature resistance properties and electrical insulation.
These Research Reviews provide market professionals with concise market coverage within a specific research category.
The global market for electric vehicle batteries is estimated to increase from $66.4 billion in 2023 to reach $161.3 billion by 2028, at a CAGR of 19.4% from 2023 through 2028. The global market for EV insulation is estimated to increase from $3.1 billion in 2023 to reach $9.1 billion by 2028, at a CAGR of 24.4% from 2023 through 2028.
Batteries are vital to power numerous systems across diverse use cases, such as consumer electronics, energy storage systems, and electric vehicles (EVs). In the present scenario, most battery-powered devices such as tablets, smartphones, energy storage sy stems, and EVs rely majorly on lithium-ion (Li- ion) batteries, which are capable of storing significant amounts of energy in a small form factor and can charge quickly. However, there is a growing demand for new battery technologies to rival Li-ion batteries in terms of cost, efficiency, safety, and sustainability. Therefore, battery manufacturers are continuously striving to find battery chemistries that are cheaper, lighter, denser, and more powerful than conventional Li-ion battery systems.
Advanced battery technologies such as solid-state, lithium-sulfur, and next-generation flow batteries are at the forefront of innovation as a promising alternative to traditional battery systems to offer superior efficiency, energy storage capabilities, and safety. While spending significant resources on R&D for advanced battery solutions, manufacturers are also optimizing the existing Li-ion battery technology, which still dominates the EV market due to the established supply chains and manufacturing and distribution networks.
With the surge in the adoption of batteries for EVs, thermal management and insulation technologies have become critical to ensure occupant safety, battery performance, and longevity. Materials such as ceramics and foamed plastics are used for insulation applications to leverage high-temperature resistance properties and electrical insulation.
Report Scope
Batteries are vital to power numerous systems across diverse use cases, such as consumer electronics, energy storage systems, and electric vehicles (EVs). In the present scenario, most battery-powered devices such as tablets, smartphones, energy storage systems, and EVs rely majorly on lithium-ion (Li-ion) batteries, which are capable of storing significant amounts of energy in a small form factor and can charge quickly. However, there is a growing demand for new battery technologies to rival Li-ion batteries in terms of cost, efficiency, safety, and sustainability. Therefore, battery manufacturers are continuously striving to find battery chemistries that are cheaper, lighter, denser, and more powerful than conventional Li-ion battery systems.Advanced battery technologies such as solid-state, lithium-sulfur, and next-generation flow batteries are at the forefront of innovation as a promising alternative to traditional battery systems to offer superior efficiency, energy storage capabilities, and safety. While spending significant resources on R&D for advanced battery solutions, manufacturers are also optimizing the existing Li-ion battery technology, which still dominates the EV market due to the established supply chains and manufacturing and distribution networks.
With the surge in the adoption of batteries for EVs, thermal management and insulation technologies have become critical to ensure occupant safety, battery performance, and longevity. Materials such as ceramics and foamed plastics are used for insulation applications to leverage high-temperature resistance properties and electrical insulation.
These Research Reviews provide market professionals with concise market coverage within a specific research category.
Table of Contents
Chapter 1 Foreword
Chapter 2 Next-Generation Advanced Batteries: Global Markets (FCB062A)
Chapter 3 lobal Electrical Vehicle Battery Market (FCB063A)
Chapter 4 Global Electric Vehicle Insulation Market (FCB064A)
Chapter 5 Appendix
List of Tables
List of Figures
