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As the global market for energy storage devices grows, research surrounding advanced battery technology is emerging quickly and will have a significant impact on the industry. However, new business models and emerging applications call for improved battery design and power duration considerations. Improved electrochemical batteries are entering the market quicker than ever because of lower costs, better performance, and improved safety. According to a @NavigantRSRCH report, lithium-ion (Li-ion) batteries remain vulnerable to more robust technologies for specialized applications such as artificial intelligence, advanced electric vehicles, and materials handling equipment.
“Though Li-ion batteries have been the leading advanced battery chemistry for new projects in the past several years, other chemistries may encroach on its market share as new technological developments come to market,” says Ian McClenny, research analyst with Navigant. “The emergence of specialized batteries is dispelling the notion that one energy storage technology fits all applications.”
According to Navigant, analysis of roadmaps for battery technologies suggest flow, advanced lead-acid, and sodium-based battery technologies will be optimized for specialized applications requiring more energy, power, faster charging, and safety. The report recommends governments around the world take progressive steps to invest in advanced battery research by seeking out research laboratories to commercialize these technologies for emerging markets.