While EVs will form the bulk of Li-ion demand, there are significant opportunities elsewhere, particularly in stationary battery storage. Large and utility-scale batteries are needed for further renewable integration in order to help with grid stability, congestion, and to balance electricity supply and demand. For residential and commercial users, energy storage systems can offer users greater energy independence and a buffer to fluctuating energy prices.
Beyond these larger-scale batteries, increased connectivity, growth in wearables, more powerful electronic devices, and drones offer opportunities for new battery technologies. Some of these higher value, lower volume applications can be used as entry points for new technologies before targeting higher volume markets but still offer sizable markets in and of themselves.
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