SIS Predicts Li-Ion Markets to Exceed $33 Billion By 2019
Over the past few years there has been a tremendous increase in investment in electric vehicle technology, with particular focus on battery technologies. Projected Compound Annual Growth Rates (CAGRs) for Lithium-Ion batteries in the transportation sector were projected at 20-30% in 2015 (Signumbox, 2015), but with the successful pre-sales of the Tesla Model 3, these projections now seem understated.
Additionally, SIS International Research suggests that the continued pace of battery technology improvement will drive sales of hybrids and EVs even further. They predict that, with lithium Ion batteries seeing increased use in recent years, the battery market is expected to exceed $33 billion by 2019.
The acceleration of lithium-ion battery development is at an all time high, with manufacturers "constantly working to improve upon existing technology" and striving to "build batteries that are more lightweight and efficient, and can take vehicles further between charges". With the help of the C8 Battery analyzer, a key tool for safe battery testing & validation, major companies like Tesla all the way down to small battery development labs, will see breakthroughs and improved battery cost, safety, and longevity, in the upcoming years.
With installations ranging from MIT and Virginia Tech to the University of Lagos in Nigeria, and from Boeing to BAE and the FDA, the Cadex C8000 Advanced Battery Test System has become the affordable industry standard for battery technology testing and validation.