Lithium Air Battery Market - Next Generation Battery Technology
The Lithium-air or Li-air battery is a metal air electrochemical cell which uses lithium oxidation at the anode and oxygen reduction at the cathode to induce a current flow. The Li-air battery has a very high energy density equivalent to gasoline, triggering global interest in super energy storage system. As comparison to other battery devices, Li-air batteries offers higher analytical energy density, high efficiency, and prolonged shelf life, which is anticipated to boost the renewable energy economy. Lithium-air batteries integrate the lightest and most electronegative metal of Li with the inexhaustibly ambient oxygen, hence involving intensive attentions owing to the main application in transportation.
Li-air batteries have been anticipated to have applications in specific sectors, associated with renewable energy such as smart-city projects, off-grid systems, and on-grid hybrid power supplies. However, high accumulation of metal wastes may create hurdle for the growth. The European Directive 2006/66/EC, was announced on 26 September 2006 on batteries and accumulators to overcome such hurdles. The Directive states that all member states must recycle and collect materials (including batteries), irrespective of their electrochemical classification.
Argonne National Laboratory (US Department of Energy) researchers have designed an advanced chemical process for super lithium oxide production, therefore improving the performance and the resistance of the accumulator. Additionally, Cambridge researchers have also revealed a study on lithium-air battery working with 90% efficiency and can be recharged 2,000 times, paving firm opportunities for the global expansion.
Rechargeable Li-air batteries have ultra-high energy densities theoretical capacities are considered as one of the most promising power sources for next-generation electric vehicles. For instance, in July 2016, Tesla installed a massive battery plant in Nevada, and has started working on stability, overheating, light weightlessness, and fire-proof batteries
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Market Growth and Analysis:
Lithium Iron Phosphate (LFP), Nickel Cobalt Aluminum (NCA), Nickel Manganese Cobalt (NMC), lithium cobalt oxide (LCO) and Lithium MANGANESE Oxide (LMO) are few types of lithium-air batteries, differing in strengths, and used for various applications. For instance, NMC is generally considered as the most potential for application in Electric Vehicles (EVs) owing to the high performance, safety and low cost.
Increasing applications in electric vehicles, smart devices, and development of enhanced Li-air batteries are considered as the major factors enhancing the industry growth. Li-air batteries have huge potential, providing up to five times more energy than other conventional batteries, paves new opportunities for the growth. Furthermore, gradual shift of automobile sector from petroleum fueled vehicles towards electric vehicles has also projected to witness the growth over the forecast period.
The global lithium air battery market has been segmented by type and application. On the basis of type, the market has been segregated into conventional lithium air batteries and Nano lithium air batteries. Conventional lithium air batteries are majorly used for the development of clean energy as compared to traditional batteries producing flammable gases & chemical emission. Conventional lithium air batteries are fundamentally lithium dry air batteries since; lithium air batteries cannot withstand carbon dioxide or moisture. Furthermore, Nano lithium air batteries can deliver thrice the capacity of current attempts and can be operational for thousands of the cycle with 12 minutes charge. Based on application, the global market has been bifurcated as electronics application, Electric Vehicles (EVs), and grid backups. The electronic segment is projected to account for the largest market shares among all the applications. The progress of advanced, higher energy lithium batteries is essential in the rapid business of the electric car market.
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Market Key players:
Major players in the lithium air batteries market are targeting on innovation and delivering their products at competitive prices. Some of the key players for the Li-air battery market include Poly Plus Battery Company, Mullen Technologies Inc., and Lithium Air Industries among others.
Europe region for battery market is expected to contribute majorly to the industry and is projected to witness significant growth over the forecast period. In Asia Pacific region, the emerging economies such as China and India are expected to witness a rise for the demand of lithium air batteries owing to their tremendous electronics market.
Major Points from Table of content:
• Executive Summary
• Research Methodology
• Market Dynamics
• Industry Overview
• Global Lithium Air Battery Market, By Product (2017-2025)
• Global Lithium Air Battery Market, By Regions (2017-2025)
• Market Competition Analysis
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