Applications Overview

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Electric Vehicles

BESS

Aviation

Other Emerging Markets

Electric mobility remains the largest global battery market, with EV sales growing despite economic, trade, and policy headwinds.

Battery energy storage system (BESS) deployments continue to soar with over 100 GW added in 2025, led by China with over 50% of this capacity, driven by falling costs (31% YoY decline), new markets and storage-friendly policy.

Electric aircraft and drones are now driving significant demand for high specific energy cells and systems. Cells >450 Wh/kg of specific energy see adoption in early drone platforms.

Heavy duty trucking companies face challenges due to technology limitations, regulatory hurdles, and high costs.

Several major test flights of EVTOL and other forms of electric aviation recorded in 2025 by Joby, Beta, Electra, Vertical, and other OEMs signalling technical feasibility of the platforms.

High growth markets including robotics (bipedal humanoids) present opportunity for high performance and higher margin battery manufacturers.

Cathode chemistry and cell form factor vary by region, driven more by differences in policy incentives, supply-chain localization, and manufacturing scale rather than technology limitations. Public charging networks expanded globally in 2025, led by China and Europe, while North America grew more slowly and unevenly.

BESS products have improved on energy density, cycle life, and efficiency, backed by 25-year warranties. LFP continues to dominate the market, but many new contenders are vying to take its place as the leading chemistry. New stationary storage applications include virtual power plants, data centers, and long-duration energy storage (LDES).

The United States sees major first-of-a-kind Presidential directives and executive department initiatives (U.S. DoT) towards 'Advanced Air Mobility' and 'Drone Dominance'.

LFP dominates the E-bike market and technology trends include increased capacity, standardization and integration.

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