Promising growth predicted for EV batteries

  • 24-Jul-2012 11:07 EDT
2012_Toyota_Earth_Day_004.jpg

The Toyota Prius family of hybrids, among the most popular vehicles in the HEV market.

 

New market research indicates a promising future for electric vehicle batteries. The study has predicted a growth of 25.2% CAGR in the Global Hybrid Electric Vehicle (HEV) battery market by 2015, due in part to such factors as increased environmental concern and a growing need for energy independence. Despite the promising research, however, the current, limited performance of HEVs could challenge this projected growth. One of the innovations proposed by the research from IDC considers the possibility of repurposing EV batteries for stationary applications after they have been removed from the vehicle. IDC Energy Insights predicts that these batteries will be available for between $50 and $150 per kW·h by 2020. Auto manufacturers, parts suppliers, and regulators may also consider building longer-term life into the batteries. These developments may help protect residual value and avoid the type of media criticism that surrounded Apple when it withdrew from the EPEAT standards over battery recyclability. Visit http://www.giiresearch.com/report/infi247085-global-hybrid-electric-vehicle-battery-market-2011.html for a summary of the analysis and a free sample of the report.

 

 

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