Germany’s battery market saw a strong increase last year and this was mostly driven by the demand for lithium-ion batteries which has rocketed eightfold in seven years!
The data comes from the latest report by the industry association ZVEI, which suggests electromobility and the expansion of renewable energies, are the main drivers of the increasing demand for electrical energy storage.
Lithium-ion batteries are the key technology for the market ramp-up of electric vehicles (EVs) and are also used in many other areas such as cell phones, hearing aids or power tools.
The overall battery market grew by 17% to €4.2 billion (£3.7bn) in 2019, with the lithium-ion segment rising by 21% to €1.6 billion (£1.4bn).
The market for other battery systems, including zinc-air batteries, lithium button cells and nickel-cadmium batteries grew by 40% to €1.7 billion (£1.5bn).
Christian Eckert, Managing Director of Batteries at ZVEI, said: “The volumes in the markets show how important the various battery systems are for many applications.
“Between 2013 and 2019, the market volume for lithium-ion batteries increased more than eightfold, which is not least due to the high growth in imports to Germany.”