In the market for rechargeable batteries that power everything from mobile phones to electric cars, there is one technology that stands above the rest and that is Lithium-Ion. Here are 5 reasons that Lithium-Ion is king of its markets now and will be in the future:
Traditionally, rechargeable batteries have been a high maintenance purchase, one that requires you to charge and discharge the batteries on a regular schedule to maintain their performance and extend their life. Lithium-Ion batteries do not have this issue, making them ideal for consumer applications, including everything from mobile devices, computers, and even electric cars, where customers may leave a battery low or uncharged for a period of time.
Innovative technologies like Lithium-Ion batteries change the industry and quickly become the widely accepted technological standard. The widespread adoption of a new technology creates momentum within the industry, causing the technology to spread further, adopted by more and more companies. The same effect can be seen in investing, the amount of capital there is being invested in an upcoming technology directly affects how much capital will be invested in the future. Investment in technology breeds more investment.
High-Density Yet Lightweight
Lithium-Ion batteries have a much greater energy density than other types of batteries, which makes them ideal for today’s devices which often have a high power drain and need to go long periods of time without charging. Additionally, these ultra-powerful batteries are incredibly lightweight and can pack a lot of power into a small size, another big advantage in today’s mobile technology market.
Variety of Types
Lithium-Ion batteries come in a variety of types, each of which has its own specialized use. The five most common types of lithium-ion batteries are found in nearly every home in America, including Lithium-Cobalt Oxide batteries, which are used in cell phones, laptops and cameras. Lithium-Manganese Oxide batteries are used to power hybrid and electric vehicles, and you’ll find Lithium-Nickel Manganese Cobalt Oxide in your electric tools and appliances. Each of these variations have their own pros and cons, but they all have the same high energy density and lightweight form that has made Lithium-Ion batteries such a popular choice.
Low Rate of Self-Discharge
All batteries suffer from self-discharge, which causes them to lose and even become unable to hold a charge over time, even when they haven’t been in use. Anyone who has used rechargeable batteries in the past can tell you what a headache this is. Lithium-Ion batteries have a much lower rate of self-discharge over time, giving them a big advantage over other types of batteries like NiCd and NiMH, which discharge very quickly when left unused and eventually cease to hold a charge at all.
A key component of Lithium-Ion batteries is cobalt, and with the widespread adoption of Lithium-Ion batteries in our everyday technologies, cobalt prices are sure to rise. This is just one of many trends that will drive cobalt stock prices higher. To learn more, download our free report, 5 Trends That Will Drive Cobalt Stock Prices To The Moon in 2019.