Chart: Panasonic predicts lithium-ion utility storage surge

One of the world’s leading battery manufacturers, Panasonic Corp, is predicting significant growth in emerging markets for lithium-ion batteries.

The company, which is the sole partner for Tesla Motors’ Gigafactory in the US, is expecting growth of 74.9% CAGR in utility (stationary storage) – batteries that can power your home or office block – and 16.9% CAGR in automotive applications, primarily driven by full EVs.

The chart below shows Panasonic’s expectations between 2014 and 2025 in both emerging markets. This chart was taken from issue 2 of Benchmark Magazine, free to download here.