Aluminium-ion Battery Market Size

Aluminium-ion Battery Market size was over USD 6.41 Billion in 2023 and is anticipated to reach USD 15.07 Billion by the end of 2036, growing at around 6.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of aluminium-ion battery is assessed at USD 6.8 Billion. The growth of the sector is set to be dominated by the growing demand for renewable energy. For instance, over the years 2023 to 2025, worldwide demand for electricity is anticipated to expand by about 4% annually, outpacing the rate of 2022 growth. Hence, the demand for aluminium-ion battery is growing since it is used in storing energy. Aluminium-ion battery has the capacity of storing large amount of energy as compared to any other batteries.

Moreover, aluminium-ion batteries have an extended lifespan in terms of comes to holding energy. After 500–1000 charging and discharging cycles, lithium-ion batteries generally lose about 79% of their capacity. A prototype aluminium-ion battery from Stanford University withstood a total of approximately 7,499 cycles without losing any capacity.