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Next-Generation Batteries

The following report was prepared and published by our sister platform SPEEDA—November 2022.

Overview

Limitations of Conventional Li-Ion Batteries and Expanding Market Scope Driving R&D into Next-Generation Batteries

Approximately 30 years have passed since the launch of the first mass-produced lithium-ion (Li-ion) batteries. This type of battery offers high capacity and output, as well as improved safety, and its development has been a driving force behind the popularisation and increase in sophistication of mobile electronic devices such as smartphones. As the world pivots towards carbon neutrality in recent years, the use of Li-ion batteries for automotive applications has also been on the rise, driven by increased public interest in electric vehicles (EVs) and government policies supporting their adoption. However, the current generation of Li-ion batteries remains limited in terms of both safety and capacity.
For this reason, R&D efforts to discover new types of next-generation batteries are advancing across the globe, primarily for automotive applications, with anticipation for more powerful Li-ion batteries equipped with higher capacities and faster charging capabilities. While the technology for next-generation batteries overall remains in its infancy, with many products intended for the automotive industry still in the R&D and prototype phases, the mass production of some non-automobile applications had commenced as of late 2020.
In this Trends report, we will discuss solid-state batteries (SSBs) and next-generation Li-ion batteries, as well as provide an overview of lithium–air batteries. At the same time, we will analyse the current market needs, potential changes, and their effects on the market. Fuel cells, meanwhile, have been excluded from the scope of this report.

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