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Electric Vehicle Battery Market to Reach $14.6 Billion in Revenues by 2017 The automotive industry has increased its focus on the electric vehicle (EV) battery market by successfully introducing several new plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) as the process of moving away from petroleum-based fuels and toward battery power intensifies. These vehicles will rely almost exclusively on lithium ion (Li-ion) batteries, while hybrid electric vehicles (HEVs) will slowly switch from nickel-metal hydride (NiMH) technology. According to a new report from Pike Research, the combined market for Li-ion batteries in HEVs, PHEVs, and BEVs will soar over the next several years, increasing from $2.0 billion worldwide in 2011 to more than $14.6 billion by 2017. The cleantech market intelligence firm forecasts that capacity shipments of Li-ion batteries for the transportation market will increase from 2.5 million kilowatt hours (kWh) to nearly 28.0 million kWh during the same period.
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Contact Eberspaecher Vecture Inc. Corporate Office 8900 Keele St. Unit 3 Concord, ON L4K 2N2 Phone: 905.761.0331 Fax: 905.761.0334 [email protected]
Eberspaecher Vecture Inc. Corporate Office 8900 Keele St. Unit 3 Concord, ON L4K 2N2 CANADA Phone: 905-761-0331 Fax: 905-761-0334 [email protected]