Battery Market Segmentation

Batteries play a key role in the electrification of many applications, covering a wide range from mobility to stationary (including grid-integrated utility) and portable batteries in consumer electronics. As different as these application areas are, the suitable battery technologies are also very different. It is hence not surprising that the battery market is highly fragmented into segments with different technological requirements and growth dynamics. This chapter provides an overview of the growing battery market and its segments and outlines the specific requirements for battery technology in each segment, including cost parameters. Also, the current technological advances and driving forces for market development (most of them connected to transformation of energy systems toward renewable-based electricity) in each segment are discussed.