Lithium-ion batteries are used in
Laptops and Tablets
In 2018 there are forecast to be more than 310 million new laptops and tablets sold globally10, the vast majority of which are powered by a lithium ion battery. The tablet section alone is forecast to have a market size of $130 billion by 2022.
In 2018 2.53 billion people are predicted to own a smartphone - over 36% of the global population. By 2020 this amount is predicted to increase to 2.87 billion (38.56% of the global population). Each and every smartphone produced is powered by a lithium ion battery.
The value of the global power tools market was worth US$ 27.58 Bn in 2015, and the value of the batteries used in them exceeded $1 billion at this time. It is expected that the market will reach a valuation of US$ 46.47 billion by 2025 and the value of the batteries alone will be nearly $2 billion.
The cost of lithium ion automotive batteries has reduced from $1200 per kWh in 2008, to $190 per KWh in 2016 with an overall goal of reaching $100 per KWh in the near future.
There are forecast to be 1,900,000 plug-in electric vehicles sold globally in 201819 as compared to less than 60,000 in the US in 2015, and the market size for lithium-ion batteries in automobiles alone is estimated to be $7.745 billion in 2018. This has been predicted to increase to $240 billion per annum by 2037.
Dutch bank, ING, predicts that all new vehicle sales in Europe will be electric by 2035 and to give an idea of what kind of impact this would have on the market it is worth pointing out that the European automotive industry manufactures 19.2 million cars, vans trucks and buses per year, employing 5.7% of the EU workforce and turning over 6.8% of EU GDP (approx. $1.2 trillion per annum).
By 2040 it is predicted that electric vehicles will be pulling in more than 1,900 TWh of electricity from global electrical grids per year. This is enough energy to power the whole of the USA for 160 days at today's usage.
Storage of renewable energy
The global energy storage market will "double six times" from now to 2030, to more than 300 gigawatt-hours and 125 gigawatts of capacity by the end of the next decade. An estimated $103 billion will be invested in energy storage over that time period.
Bloomberg New Energy Finance have announced that they see utility-scale battery storage systems falling in cost from $700 per kilowatt hour in 2016 to less than $300 per kilowatt hour in 2030 as they benefit from investment into the mass manufacturing of lithium-ion batteries for consumer electronics and electric vehicles.