Lithium-ion battery production is set to ramp-up significantly, with a target to produce 50 million lithium-ion batteries a year by 2025, according to a new study.
The lithium-based batteries have the potential to provide nearly all of the power in cars by 2050, according a new report by global battery technology provider, Lithium Technology International.
The company estimates that the global battery market will be worth $14.7 trillion by 2020, an increase of nearly 30% from 2016.
The report, titled “Lithium battery production hits 50 million by 2025”, found that global battery shipments could reach 2.7 million units by 2025.
Lithium batteries are an increasingly popular alternative to traditional batteries, and could play a key role in energy storage and renewable energy.
However, the researchers also pointed out that the battery market is still relatively small and that there is a lack of clear data on the size and cost of lithium batteries.
The study was based on data from the Battery Research Corporation and a panel of leading industry analysts.
Lithia said in a statement that lithium-air batteries are the “new and improved” battery technology.
It said that battery technologies have evolved over the last few years, and that lithium batteries can be as efficient as other battery technologies and as energy-efficient as hydrogen fuel cells.
The world is in an energy transition, with the amount of power generated by electric vehicles and other energy-saving vehicles set to grow by 30% by 2050.
Lithia’s report forecasts that the world will generate about 1,300 gigawatts of energy-storage capacity by 2030, up from about 600 gigawatts in 2020.
The report projects that battery production will increase to about 2.5 million units a year, an average of about 2 million a year.