"Currently, most ships lack suitable firefighting capabilities and early detection systems to tackle these fires at sea," says Miguel Herrera, senior marine risk consultant at Allianz Risk Consulting. (Credit: Avigator Thailand/Shutterstock.com)

Demand for lithium-ion batteries is soaring on the back of sales for items ranging from smart devices to electric vehicles. A key component for the renewable energy sector as well, lithium-ion batteries are expected to see sales grow from $44.5 billion this year to more than $135 billion by 2031, according to market research.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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