Lithium-ion batteries are the dominant technology for renewable energy storage, with a global market share of over 90%. High energy density: Lithium-ion batteries can store more energy per unit weight and volume than other battery technologies, making them ideal for large-scale energy storage applications.
A paid subscription is required for full access. The global demand for lithium-ion battery cells is forecast to increase from approximately 700 gigawatt-hours in 2022 to 4,700 gigawatt-hours in 2030. China and Europe are projected to account for the highest demand by that year, mostly employed in the electric mobility sector.
Lithium-ion batteries play a crucial role in storing and managing this decentralized energy. Beyond passenger EVs, there is increasing electrification in heavy transportation sectors, including buses, trucks, and maritime vessels. Lithium-ion batteries make these vehicles viable by providing the energy density needed for long-range travel.
The resource question is an important one. Although lithium-Ion batteries contain a very small amount of lithium, the predicted growth of demand for these batteries could put pressure on supply chains for materials like lithium, nickel, cobalt, manganese and graphite. And it’s essential that supply chains operate in an ethical way.
Much of this growth can be attributed to the rising popularity of electric vehicles, which predominantly rely on lithium-ion batteries for power. Find up-to-date statistics and facts on lithium-ion batteries.
New technologies and better monitoring are making batteries a very safe way to store electricity. In an electric vehicle one battery cell might stop working, for example, but if it is designed safely it won’t affect the whole vehicle. The key safety aspects with lithium-Ion batteries are how they are put together and monitored.