Battery Value Chain:
Growth and Market Drivers
Over the last 10 years, lithium-ion battery power density has improved significantly. This technological advancement has enabled batteries to become lighter and smaller in size while carrying increasingly more power output. At first, these improvements benefited the consumer electronic industry, where batteries enabled increasingly smaller, more portable, higher-processing telecommunications and electronic devices such as cell phones and laptops. As more consumer electronics technologies were adopted, lithium ion battery costs fell.