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Energy Storage Market to Hit $44B by 2015


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.

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.

The report analyzes prospects for several technologies, including batteries, supercapacitors, fuel cells in transportation and storage, distributed generation, and transmission and distribution technologies on the power grid.

One key finding of the report is that 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%.

“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. “But in fact e-bikes and scooters will drive the biggest growth for these batteries in the next five years.”

Other findings include:

•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. 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.
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Source: sustainablebusiness.com

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