Lithium Ion Batteries for Electric Vehicles Will Reach $22 Billion in Annual Market Value by 2020, Forecasts Pike Research


charging station this way (select to view enlarged photo)

BOULDER, CO--January 22, 2013--In recent years, the lithium ion (Li-ion) battery industry has taken a number of steps forward. The technology continues to improve, leading battery cell manufacturers have built new factories that incorporate advanced production techniques, and automakers have greatly increased their research and development (R&D) efforts on plug-in electric vehicles (EVs). According to a new report from Pike Research, a part of Navigant's Energy Practice, these developments will translate into strong growth for Li-ion batteries over the remainder of the decade. The overall market for Li-ion batteries in light duty vehicles will grow from $1.6 billion in 2012 to almost $22 billion in 2020, the study concludes.

“The Li-ion battery looks set to be the chemistry of choice for the on-board energy storage market for the foreseeable future, taking over from nickel-metal hydride, which has been the preferred battery for hybrids to date”

"The Li-ion battery looks set to be the chemistry of choice for the on-board energy storage market for the foreseeable future, taking over from nickel-metal hydride, which has been the preferred battery for hybrids to date," says senior research analyst David Alexander. "Li-ion batteries can supply the much greater capacity needed for battery electric and plug-in hybrid vehicles, and 2012 saw the launch and announcement of new models from many manufacturers, all featuring Li-ion batteries."

The pressure to reduce the cost of electric vehicles is high, and the cost of the battery pack is the most important factor in determining the premium cost of EVs. Large R&D funds have been invested, but only small incremental improvements have been achieved so far. One challenge is that volumes remain small in automotive terms. The cost of the battery pack will come down to about $447 per kilowatt-hour by the year 2020 at scaled production, according to the report.

The report, "Electric Vehicle Batteries" provides a detailed examination of the growing market for lithium ion batteries, including profiles of all of the leading Li-ion battery manufacturers. Forecasts for revenues from Li-ion batteries, segmented by vehicle type, are included, along with vehicle roadmaps for hybrid, plug-in hybrid, and battery electric vehicle sales by region. The report also includes a review of competing energy storage technologies, including ultracapacitors and nickel-metal hydride batteries. An Executive Summary of the report is available for free download on the Pike Research website.

-->

On Sale Today



Home | Buyers Guides By Make | New Car Buyers Guide | Used Car Super Search | Total New Car Costs | Car Reviews Truck Reviews
Automotive News | TACH-TV | Media Library | Discount Auto Parts

Copyright © 1996-2014 The Auto Channel. Contact Information, Credits, and Terms of Use. These following titles and media identification are Trademarks owned by The Auto Channel, LLC and have been in continuous use since 1987 : The Auto Channel, Auto Channel and TACH all have been in continuous use world wide since 1987, in Print, TV, Radio, Home Video, Newsletters, On-line, and other interactive media; all rights are reserved and infringement will be acted upon with force.

Privacy Statement | Size Does Matter | Media Kit | XML SITE MAP | Affiliates

Send your questions, comments, and suggestions to Editor-in-Chief@theautochannel.com.

Submit Company releases or Product News stories to submit@theautochannel.com.
Place copy in body of email, NO attachments please.

To report errors and other problems with this page, please use this form.

Link to this page: http://www.theautochannel.com/