Applications

Applications Overview

ELECTRIC VEHICLES

BESS

OTHER EMERGING MARKETS

Global EV demand remains intact. The growth rate has slowed down, but this is not affecting all markets and companies.

The market for battery energy storage systems BESS) is booming, with installations starting to take more % of battery adoption in recent years.

Aviation companies are near market readiness by using high-end Li-ion batteries.

To adapt to this unprecedented change in the automotive industry, automakers are prioritising affordable and competitive vehicles.

Rapidly falling costs, coupled with policy and technical innovations, have led to increasing BESS adoption, led by grid-scale installation.

BEV batteries are trending towards larger form-factor cells, primarily prismatic formats.

Grid-scale Li-ion systems have led the sector, but rapid innovation abounds in other ESS sectors such as Residential, C&I, VPP, V2G and LDES.

Automakers are accelerating plans for module-less pack architecture.

The industry has made improvements on safety but continues to face challenges as codes, standards, and public perceptions of BESS evolve.

New markets showing in off-highway EVs, light-EVs, trucking, maritime battery market. While e-bike sales dominate the micro-mobility market, addressing fire risks and safety standards is a priority. AI data centers are consuming more batteries to enable renewables integration, UPS, load leveling, power quality, and other services.

Extracted from the PDF; charts and images may read imperfectly.