Dynamic Wealth Management Headlines: Cars Speed Past Computers in Lithium-Ion Market

Lithium-ion batteries are going mobile—auto-mobile, that is.
The automotive industry will pass computer manufacturing as the leading market for lithium-ion batteries in the next four years, according to a report from business information firm IHS. The firm projects the batteries, which power most portable electronics and laptop computers, will continue falling in price over the next decade and, as a result, become the most popular choice for electric car manufacturers by 2020.
“Lithium-ion at present is much more expensive than alternative energies,” IHS analyst Satoru Oyama said in the report. “However, lithium-ion pricing will decline much more rapidly than the other technologies,” making it the “battery technology of choice in future electric and hybrid vehicles.”
Lithium-ion batteries offer several advantages over the alternatives, in that they are typically lighter, maintain full capacity even after a partial charge, and are generally considered more environmentally friendly than other technologies.
Sales of lithium-ion batteries for cars are projected to reach $11.9 billion in 2015, nearly double the amount spent on the batteries for notebook computers ($6.6 billion). In total, according to the report, lithium-ion battery revenues will grow from $11.8 billion last year to $31.4 billion in 2015, then up to $53.7 billion in 2020.