Lithium-ion is the best battery technology we have ever seen. It has increased energy density by 5% per year and decreased its cost at 8% per year. However it will not achieve transformative factors of five in cost and performance and this is just because of the inherent material limitations.
A new generation of battery technologies will be necessary in order to address the existing and future challenges of the increasingly complex energy systems our society will require. Better batteries will be required not only in electric cars and consumer electronics but in wearable electronics, electric boats and aircrafts, in your house, office and communities. Whilst existing battery technologies such as lead acid and lithium-ion batteries will dominate the battery market in the following 10 years, advanced and post lithium-ion batteries given the right conditions can potentially take a considerable dent of about 10% of whole battery market. This is mainly because some of them are already in use in niche segments that will present high growth in the following 10 years.
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