$44B in opportunities for energy storagePublished on March 31st, 2010 | By: email@example.com
According to a new report from Lux Research, 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.
ACerS’ upcoming Ceramic Leadership Summit will introduce key figures in the energy storage technology sector that will expound on how to harness that $44 billion. The Energy Innovations track on Tuesday, June 10, will include talks on enabling a nuclear renaissance, current and future prospects of fuel cells, the strategic field of energy conversion. A representative from United Technologies will also present an industry perspective on energy storage, SOFCs and energy and emission reduction in gas turbines.
The Lux report, titled “Emerging Technologies Power a $44 Billion Opportunity for Transportation and Grid,” 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.
Some key findings are listed in the summary:
- 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 percent. 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 percent.
- Lead-acid batteries will drive 93 percent 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 percent through 2015, Li-ion battery markets are growing almost three times faster than those for lead-acid.
- 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 percent. Here the largest market is the smart-grid, which will grow at an explosive CAGR of 23 percent, from $5.4 billion this year to $15.8 billion in 2015.
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