With virtually every major automaker planning an electric vehicle launch, and governments worldwide funneling billions of dollars into smart grid technologies, the prospects for energy storage technologies are getting lots of attention. Now the potential has been quantified: The market for batteries, supercapacitors and fuel cells targeting transportation and smart grid applications will more than double from $21.4 billion in 2010 to $44.4 billion in 2015, according to a new report from Lux Research.
Although this growth spells opportunity for corporations, investors and utilities, it’s not always clear where the hottest opportunities lie. In its report, titled “Emerging Technologies Power a $44 Billion Opportunity for Transportation and Grid,” Lux Research analyzes the prospects for several technologies, including batteries, supercapacitors, fuel cells in transportation and storage, distributed generation, and transmission and distribution technologies on the power grid.
“Policy-makers, auto manufacturers and the media have locked their attention on battery technologies for plug-in and electric vehicles,” said Jacob E. Grose, an analyst for Lux Research, and the report’s lead author. “But in fact e-bikes and scooters will drive the biggest growth for these batteries in the next five years.”
In analyzing prospects for each technology, Lux Research combined rigorous bottom-up and top down analysis, and conducted interviews with hundreds of companies developing technologies for transportation and the power grid. Among the report’s key findings:
* Big opportunities in transportation ride on two wheels, not four. Electric vehicle storage technology markets will nearly double from $7.7 billion in 2010 to $14.5 billion in 2015, a CAGR of 13.5%. Surprisingly, markets for electronic bike (e-bike) and scooter batteries will lead the charge, growing from $6.4 billion this year to $10.9 billion in 2015, a CAGR of 11%.
* Lead-acid batteries dominate transportation markets, but Li-ion technology is rapidly growing. Lead-acid batteries will drive 93% of China’s e-bikes in 2010, and dominate the micro-hybrid automotive market. However, lithium-ion (Li-ion) batteries in e-bikes are growing fast, and have gained further momentum from plug-in and electric vehicles. The upshot: With a compound annual growth rate (CAGR) of 22% through 2015, Li-ion battery markets are growing almost three times faster than those for lead-acid.
* In the power grid segment, the smart plays are in the smart grid. Markets for emerging technologies in the power grid will skyrocket from $13.7 billion in 2010 to $30 billion in 2015, a CAGR of 17%. Here the largest market is the smart-grid, which will grow at an explosive CAGR of 23%, from $5.4 billion this year to $15.8 billion in 2015.
Lux Research www.luxresearchinc.com
Press Release dated March 31, 2010
Original post blogged on b2evolution.
Related posts:
- Green Buildings to Hammer Out a $277 Billion Market – Rising Energy Costs and Bottom-Line Economics Provide Energy-Saving Building Technologies With a Solid Foundation for Growth, Says Lux Research http://www.luxresearchinc.com/index.php Buildings consume more energy and materials than any...
- Glendale Water & Power to Launch Thermal Energy Storage Project – Southern California municipal utility will integrate Ice Energy’s Ice Bear distributed energy storage technology to complement smart grid strategy http://www.ice-energy.com/NEWSEVENTS/PRESSRELEASES/DATA/tabid/357/articleType/ArticleView/articleId/50/Glendale-Water-Power-to-Launch-Thermal-Energy-Storage-Project.aspx On March 16, 2010 Ice Energy, a leading provider...
- Competition Heats Up in Nano for Cleantech – Lux Research Rates A123 Systems, Electrovaya, Konarka, Nanoscale, and More, as They Chase $20 Billion in Market Opportunity in 2015 http://info.luxresearchinc.com/Download_Nano_WhitePaper.html Environment and energy, or “cleantech,” applications have become a...
- Shakeout Shifts Solar’s Center from Europe to China: Solar industry will grow to $77 billion in 2015, but not before bloodletting resets the supply curve, says Lux Research http://www.luxresearchinc.com/press/RELEASE_SolarForecast3_9_10.pdf Reeling from a stormy 2009, the solar market will...
- The $45 Billion in the Sewers: Energy and Resources From Wastewater – A Host of Technologies Can Help Utilities Turn Wastewater Costs Into Profits, Says Lux Research http://www.luxresearchinc.com/index.php While it’s long been simply an expensive nuisance to...
Related posts brought to you by Yet Another Related Posts Plugin.