Changing lifestyles and urbanization have made it necessary to have available energy source at a given place. In order to fulfill the demand, portable batteries have been always at top priority. Portable energy storage, electric vehicles, and stationary storage for renewable energy generation require batteries that can store more energy and are less expensive and hence Lithium Metal Batteries are used in which metallic lithium is used as an anode, which can double the energy storage capacity.This growth is primarily driven by Double Storage Capacity Strength and Efficient Working is Driving Secondary LMB market and Lower Cost Involved than Lithium-Ion Batteries.
Major Vendors, such as SES.AI (United States), Pellion Technologies (United States), PPBC (France), Ion Storage Systems (United States), Sion Power Corporation (United States), Colibri (Germany), QuantumScape Corporation (United States) and OXIS Energy Ltd (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2021, General Motors Co signed a partnership with a lithium metal battery start-up to enhance the U.S. automakerís battery development, allowing for electric vehicle driving range in a smaller package. This joint venture with SolidEnergy Solutions will allow GM to cut weight from the vehicle and roll out the electric vehicle.
In 2020, Sion power demonstrates the main electric vehicle (EV) battery performance Necessities in its lithium-metal rechargeable battery cell technology called Licerion EV technology. This technology focuses on high energy density, increased life cycle, and fast charging capabilities.
- Double Storage Capacity Strength and Efficient Working is Driving Secondary LMB market
- Lower Cost Involved than Lithium-Ion Batteries
- Low dependability on Working Range can hamper the market growth
OpportunitiesGrowth in Demand for Electric Vehicles is the key Opportunity, Reach Of Technology In Remote Areas Is Demanding More Enhanced Power Tools and Consumer Electronics Is Constantly Seeking Newer Technologies Is Market Opportunity For Lithium Metal Batteries
ChallengesInvariable Self Destruction is the issue in Lithium Metal Battery
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