Leap in demand for lithium-ion BESS

The report covers 10-year forecasts on Li-ion BESS with an analysis of players, project pipelines, grid-scale, and residential BESS markets, among other elements. It shows that Lithium-ion batteries currently account for over 90% of global installations of energy storage. Although this is primarily driven by global demand for electric vehicles, demand for Lithium-ion ESS increased its share of this sector by 10% in 2023.

In its report, “Batteries for Stationary Energy Storage 2025-2035: Markets, Forecasts, Players, and Technologies”, IDTechEX sees Lithium-ion batteries dominating in the medium term, potential material constraints could make other BESS technologies with more abundant materials more cost-competitive, such as Sodium-ion batteries, redox flow batteries, metal-air batteries and thermal batteries, among others.

The analysis illustrates Lithium-ion battery storage developments by country, comparing data from 2021 to 2023, as well as providing a 10-year market forecast on the Lithium-ion BESS market for the period 2016- 2035.

The report covers various elements, such as trends and comparisons between some battery chemistries, case studies on BESS fire incidents, analysis of thermal management, coverage of business models and revenue streams, and regional analysis, among many others. No mention is made of the second-life markets from electric vehicle batteries and their use for stationary storage.