Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Energy Storage Fully Charged to Drive a $44 Billion Market

Abstract:
The momentum behind emerging power storage technologies will drive a 15.7% compound annual growth rate (CAGR) through 2015, says Lux Research.

Energy Storage Fully Charged to Drive a $44 Billion Market

New York, NY | Posted on March 31st, 2010

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.

"Emerging Technologies Power a $44 Billion Opportunity for Transportation and Grid," is part of the Lux Alternative Power and Energy Storage Intelligence service. Clients subscribing to this service receive ongoing research on market and technology trends, continuous technology scouting reports and proprietary data points in the weekly Lux Research Power Journal, and on-demand inquiry with Lux Research analysts.

For more information, visit info.luxresearchinc.com/ or email

####

About Lux Research
Lux Research provides strategic advice and on-going intelligence for emerging technologies. Leaders in business, finance, and government rely on us to help them make informed strategic decisions. Through our unique research approach focused on primary research and extensive global network, we deliver insight, connections, and competitive advantage to our clients.

For more information, please click here

Contacts:
Carole Jacques

Copyright © Lux Research

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Announcements

A new product to help combat mouldy walls, thanks to technology developed at the ICN2 December 14th, 2017

Sandia researchers make solid ground toward better lithium-ion battery interfaces: Reducing the traffic jam in batteries December 13th, 2017

Perking up and crimping the 'bristles' of polyelectrolyte brushes December 13th, 2017

Columbia engineers create artificial graphene in a nanofabricated semiconductor structure: Researchers are the first to observe the electronic structure of graphene in an engineered semiconductor; finding could lead to progress in advanced optoelectronics and data processing December 13th, 2017

Energy

Inorganic-organic halide perovskites for new photovoltaic technology November 6th, 2017

Dendritic fibrous nanosilica: all-in-one nanomaterial for energy, environment and health November 4th, 2017

New nanomaterial can extract hydrogen fuel from seawater: Hybrid material converts more sunlight and can weather seawater's harsh conditions October 4th, 2017

Researchers set time limit for ultrafast perovskite solar cells September 22nd, 2017

Automotive/Transportation

Sandia researchers make solid ground toward better lithium-ion battery interfaces: Reducing the traffic jam in batteries December 13th, 2017

Device makes power conversion more efficient: New design could dramatically cut energy waste in electric vehicles, data centers, and the power grid December 8th, 2017

Chinese market opens up for Carbodeon nanodiamonds: Carbodeon granted Chinese Patent for Nanodiamond-containing Thermoplastic Thermal Compounds December 4th, 2017

The next generation of power electronics? Gallium nitride doped with beryllium: How to cut down energy loss in power electronics? The right kind of doping November 9th, 2017

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

Sandia researchers make solid ground toward better lithium-ion battery interfaces: Reducing the traffic jam in batteries December 13th, 2017

Device makes power conversion more efficient: New design could dramatically cut energy waste in electric vehicles, data centers, and the power grid December 8th, 2017

Printing Flexible Graphene Supercapacitors December 1st, 2017

Dendritic fibrous nanosilica: all-in-one nanomaterial for energy, environment and health November 4th, 2017

Fuel Cells

Hydrogen power moves a step closer: Physicists are developing methods of creating renewable fuel from water using quantum technology September 15th, 2017

More durable, less expensive fuel cells: University of Delaware researchers have developed a new technology that could speed up the commercialization of fuel cell vehicles September 5th, 2017

Engineers pioneer platinum shell formation process – and achieve first-ever observation August 11th, 2017

Argonne National Laboratory’s Continuous ALD Technology Licensed Exclusively to Forge Nano July 7th, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project