Next generation advanced batteries are cost-effective and energy-efficient alternatives to traditional lithium-ion batteries. As well as offering speedy charging and a desirable shelf-life, advanced batteries also play a key role in the green revolution. Electric vehicles – among various other consumer electronics – wouldn’t be feasible without them.

Advanced batteries are expected to experience a huge surge in demand over the coming years, which will cause the market to boom. BCC Research expects the market for next-generation advanced batteries to reach $1.8 billion by 2027, growing at a staggering CAGR of 83.5%. As the market expands competition will stiffen, so innovation and product development are top priorities for players. Battery minerals, battery cases and electrode types are accounting for most new product developments. But who are the companies working within this cut-throat landscape?

Top next-generation advanced batteries companies

There are lots of companies making a stamp on the market, and the list below highlights just a few of those players.

BrightVolt

BrightVolt aims to make the world a better place by developing better battery chemistry. BrightVolt is a leading manufacturer of batteries with an innovative Research and Development Center in Indiana and corporate headquarters in Redmond, Washington. All applications, including hybrid and electric cars, consumer electronics like smartphones, laptops, eReaders, drones, medical and wearable devices, and other information technology goods, can be powered by its rechargeable solid-state batteries. Batteries made with its unique Polymer Matrix Electrolyte (PME) technology have a 25% higher energy density than those made with standard Lithium-ion batteries while being safer, cleaner, and more ecologically friendly, all at a lower overall cost of production.

Contemporary Amperex Technology

Chinese battery maker Contemporary Amperex Technology, also known as CATL, was established in 2011 and focuses on producing lithium-ion batteries for electric vehicles, energy storage systems, and battery management systems (BMS). The world’s largest producer of lithium-ion batteries for Evs is CATL, which produced 96.7 GWh of the 296.8 GWh total, an increase of 167.5% annually.

By 2025 and 2030, the company aims to produce more than 500 Gwh and 800 Gwh, respectively. The business unveiled a sodium-ion battery for the automobile industry in 2021. It is expected to recover sodium materials at a battery recycling facility.

Ford made a purchase announcement in July 2022 for CATL batteries for the Ford Mustang Mach-E and Ford F-150 Lightning vehicles. To increase its global footprint and deliver skateboard chassis for Evs, CATL will expand its agreement with Vinfast in October 2022.

GPIndustrial

GP Batteries develops, manufactures, and markets batteries and battery-related products. Since its founding, GP Batteries has grown quickly to be one of China’s top consumer battery producers and to rank among the top producers globally. Under its GP brand name provides battery products to original equipment manufacturers, top battery businesses, and consumer retail sectors.

Next-Generation Advanced Batteries: Global Markets

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4. Ion Storage Systems

Batteries made by Ion Storage Systems have a tighter packing density, are safer and lighter, and improve system performance. These advancements give the world's innovators the tools they need to overcome obstacles in their product development processes, redefine what is feasible, and start creating future things. Ion Storage Systems “manufactures superior batteries without cutting corners”.

5. NGK Insulators

The industry leader in ceramics is NGK Insulators (NGK). Since its founding in 1919, NGK has created a wide range of innovative products that address societal problems using its special ceramic technology. NGK operates in more than 20 nations worldwide, and its industries include industry, mobility, energy, and IT.

NGK actively lessens the burden on the environment as one of the biggest producers of ceramic substrates for automobile catalytic converters. Along with the compact, thin, and high-energy-density lithium-ion rechargeable "EnerCera" battery line, which are essential components of sustainable energy infrastructure, NGK's product line also includes the energy storage system "NAS" battery. The company will continue to develop and offer goods that support social infrastructure while protecting the environment to build a future where people may live in harmony with nature.

6. QuantumScape

QuantumScape is developing next-generation battery technology for use in EVs and other applications. A once-in-a-century transition in automobile powertrains, from internal combustion engines to clean electric vehicles, is occurring in QuantumScape. While current battery technology has shown the advantages of EVs, particularly in the premium passenger car market, there remain fundamental barriers preventing battery technology's widespread implementation. Therefore, improved battery technology is the most promising way for a wide market change.

QuantumScape has worked closely with Volkswagen Group of America Investments, LLC since 2012. One of the biggest automakers in the world, Volkswagen aims to lead the EV market. Volkswagen has contributed more than $300 million to QuantumScape over the past nine years and they have joined forces in a 50/50 joint venture to enable the production of solid-state batteries at an industrial scale.

7. SES AI

In terms of next-generation Li-Metal batteries, SES is a global leader. Its Li-Metal batteries combine standard Li-ion battery production efficiency with the high energy density of Li-Metal.

SES is an American hardware and software corporation with facilities in Boston, Shanghai, Seoul, and Singapore. SES is present throughout the world. SES uses a systems approach while creating and marketing Li-Metal batteries.

SES is the only Li-Metal firm having numerous A-sample development programs with automakers, including General Motors, Hyundai Motors, and Honda Motors. SES is a global leader in next-generation Li-Metal batteries. SES also has investors like SK, Temasek, Geely, Shanghai Auto, Vertex, Koch, LG, Tianqi Lithium, Applied Materials, and others supporting it.

8. Solid Power

Solid Power is the leading manufacturer of all-solid-state rechargeable batteries for the portable power and electric vehicle sectors. In a typical lithium-ion battery, the flammable liquid electrolyte is swapped out by a solid electrolyte made of sulfide by Solid Power. Because of this, Solid Power's all-solid-state batteries can deliver an energy density increase of 50% to 75% compared to the best rechargeable batteries currently on the market, are compatible with conventional lithium-ion manufacturing processes, and are safer and more stable over a wider temperature range.

Market insights for next-generation advanced batteries

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