What is the Future of Lithium Air Batteries?

Plummeting battery prices and increasing applications in electric vehicle, smart devices, etc. on account of ultra-light weight are anticipated to drive the global Lithium Air Battery market through 2026.

Introduction to Next Generation Battery Technology: Lithium Air Batteries

The lithium air battery, also known as lithium oxygen battery refers to the type of battery which is utilizing the lithium oxidation reaction to produce current. The lithium air battery combines the features from both lithium and oxygen, thereby possessing nearly 5 to 15 times of specific energy and almost 3 times of power as compared to the traditional lithium ion batteries. Moreover, the lithium air batteries have the potential to store over 40 times the charge as that of a normal Li-Ion battery of similar weight. The rechargeable Li-O2 batteries features ultra-light weight and high energy density which is making them a preferred choice for electric cars and other portable electronic devices.

The latest and most trending news to hit the Global Lithium Air Battery Market is that the subsidiary of Japan based multinational automotive manufacturer, Toyota Motor Europe is among the chief funding organization supporting the novel research carried out by research team of Massachusetts Institute of Technology. The primary focus of the new MIT study is the discovery of potential leads in lithium air battery technology which promises to triple the power per weight of conventional lithium-ion batteries.

The recent TechSci Research Report on “Global Lithium Air Battery Market, Competition Forecast and Opportunities, 2012-2026” talks about various salient points of the Global Lithium Air Battery market. Here is the gist on potential driving forces playing a pivotal role in the Global Lithium Air Battery Market:

How are Lithium Air Batteries, a profitable option for Electric Car Manufacturers?

The conventional lithium ion batteries offer a driving range of approximately 100 miles on a single charging cycle and are considered to be the costliest affair in the manufacturing of an electric vehicle. As a result, the new and innovative lithium air batteries are gaining traction in the automotive industry on account of high performance features provided at a cheaper cost.

Plummeting battery prices and increasing applications in electric vehicle, smart devices, etc. on account of ultra-light weight are anticipated to drive the global Lithium Air Battery market through 2026.

Introduction to Next Generation Battery Technology: Lithium Air Batteries

The lithium air battery, also known as lithium oxygen battery refers to the type of battery which is utilizing the lithium oxidation reaction to produce current. The lithium air battery combines the features from both lithium and oxygen, thereby possessing nearly 5 to 15 times of specific energy and almost 3 times of power as compared to the traditional lithium ion batteries. Moreover, the lithium air batteries have the potential to store over 40 times the charge as that of a normal Li-Ion battery of similar weight. The rechargeable Li-O2 batteries features ultra-light weight and high energy density which is making them a preferred choice for electric cars and other portable electronic devices.

The latest and most trending news to hit the Global Lithium Air Battery Market is that the subsidiary of Japan based multinational automotive manufacturer, Toyota Motor Europe is among the chief funding organization supporting the novel research carried out by research team of Massachusetts Institute of Technology. The primary focus of the new MIT study is the discovery of potential leads in lithium air battery technology which promises to triple the power per weight of conventional lithium-ion batteries.

The recent TechSci Research Report on “Global Lithium Air Battery Market, Competition Forecast and Opportunities, 2012-2026” talks about various salient points of the Global Lithium Air Battery market. Here is the gist on potential driving forces playing a pivotal role in the Global Lithium Air Battery Market:

How are Lithium Air Batteries, a profitable option for Electric Car Manufacturers?

The conventional lithium ion batteries offer a driving range of approximately 100 miles on a single charging cycle and are considered to be the costliest affair in the manufacturing of an electric vehicle. As a result, the new and innovative lithium air batteries are gaining traction in the automotive industry on account of high performance features provided at a cheaper cost.

The global boom caused by electric vehicle is immensely supporting the developments in lithium air battery technology, which makes use of surrounding air as an active cathode for electricity generation, thereby reducing the overall weight of the cars. The light-weight design for new range of engineered EV models and brands would boost the sales and demand for electric cars due to added relevance to the environmental impact.

Total Sales of Electric Vehicles in Selected Nations, By Type, 2016

 

Source: International Energy Agency (IEA)

In addition to this, the Li-O2 batteries are showcasing the capacity to store 700% of power as compared to ordinary Li-Ion batteries which allows them to run an electric car to a distance of 500 miles by charging once at an average cost of USD10. As a result, the growing preference for battery driven cars over fuel-driven vehicles is resulting in environmental as well as economic benefits, which would continue to drive the innovations and improvements in the lithium air battery market as well.

Rising Demand from Consumer Electronics Segment:

The increasing penetration of lithium batteries in consumer goods and electronic appliances such as smartphones, smart wearables, smart home appliances, etc. is opening opportunities for growth in global lithium air battery market. The increasing demand from consumers regarding thinner and smaller and advanced performance featuring battery products are catalyzing the application of lithium air batteries in smart devices and laptops, computers, etc. Moreover, the miniaturization of mobile electronics is driving the demand for light-weight and cheaper lithium air battery cells and packs to sustain the energy and power requirements of portable devices industry.

Conclusion:

In conclusion, the Global Lithium Air Battery Market is projected to witness double-digit growth at a CAGR of more than 10% during 2017-26 owing to the rising applications in hybrid and electric vehicles and consumer electronic appliances such as wearable electronics, etc. owing to their light weight. The growth in the global lithium air batteries market can be attributed to the various technological developments undertaken by battery manufacturers across the world. Moreover, the increasing penetration in advanced industrial applications such as drones and robotics, etc. on account of falling prices of lithium batteries is further anticipated to boost the Global Lithium Air Battery Market over the coming years.   

Global Lithium Air Battery market is controlled by these major players, namely–  PolyPlus (US), Lithium Air Industries, Inc. (US), Mullen Technologies Inc. (US), etc.