Innovation & New Technologies Lithium-Ion batteries for the 2020’s Innovation & New Technologies Lithium-ion batteries are the fastest growing battery technology and is already the largest technology in terms of market value. It has been an enabling technology for portable electronic devices and is currently revolutionizing the automotive industry. Share this story: It is a technology under rapid development which is becoming integrated into more and more applications and development has continued since the first market entry in 1991. Battery market share by value (2018, USD basis). Li-ion has the largest market share by value, alt-hough lead-acid is much larger by volume. Energy density has roughly tripled since the early 1990’s and the cost has decreased by an order of magnitude since the early 2010’s. And there is still room for improvement! Realistically the energy density might increase by another 20% and optimistically by 50%. Also the cost is decreasing towards the important $100/kWh threshold. Optimistically, that may be achieved already in the mid 2020’s, but realistic expectations should probably be closer to $125/kWh in that time frame. As with any energy dense technology, safety must remain a top priority to assure consumer acceptance. New technology involves new hazards, but are not necessarily more dangerous than conventional technologies once those new risks has been targeted. If sustainable battery production can be combined with safe design, a new paradigm shift is about to occur in the 2020’s. All sources for figures and other data mentioned in this article are to be found in the reference list in our white paper "Lithium-Ion batteries for the 2020's". Lithium-Ion batteries for the 2020s Download now Download White paper Lithium-Ion batteries for the 2020s If you want to read more about battery safety, the working principles of Li-Ion batteries, their historical background, their incredible growth at reduced cost, how much energy density has increased and get the latest outlook for this technology, download our comprehensive white paper “Lithium-Ion batteries for the 2020’s” written by our experts or check our articles .