While the traditional lead-acid battery still dominates the market, lithium-ion batteries are quickly gaining ground. As electric cars become more popular, the demand for lithium-ion batteries is increasing rapidly. In fact, it is estimated that the global market for automotive lithium-ion batteries will reach $10 billion by 2025.
The advantages of lithium-ion batteries are numerous. They are much lighter than lead-acid batteries, which can significantly reduce the weight of a car, resulting in better fuel efficiency and longer range. Lithium-ion batteries are also more efficient, meaning they can convert more of their stored energy into power for the car. They are also more reliable and have a longer lifespan than lead-acid batteries, reducing the need for frequent replacements.
Another trend in the development of automobile batteries is the move towards solid-state batteries. These batteries use a solid electrolyte, which can provide many advantages over liquid electrolyte batteries like lithium-ion batteries. Solid-state batteries are much safer and less prone to fires, which have been a concern with lithium-ion batteries. They also have higher energy density, meaning they can store more energy in a smaller space, and they are less prone to degradation, meaning they will last longer.