Battery Market for Plug-in Vehicles to Rise to $10 Billion in 2020
Six Large Carmakers Led by Tesla Will Account for 90% of the Demand, While Panasonic Will Remain the World's Biggest Battery Maker, Lux Research Says
(firmenpresse) - BOSTON, MA -- (Marketwired) -- 06/28/16 -- Led by Tesla, China''s BYD, and Volkswagen, the battery market for plug-in vehicles will rise to $10 billion in 2020, with electric vehicles (EV) emerging as the drivetrain of choice, according to .
Just six large carmakers will account for 90% of the battery demand: Tesla, BYD, Volkswagen, General Motors (GM), Renault-Nissan and BMW. Among battery-makers, Panasonic will keep its lead with 46% market share, followed by BYD, LG Chem, NEC, Samsung SDI and others.
"Plug-in adoption is ultimately being fueled by rapidly decreasing battery costs and the success of early EVs such as Tesla''s Model S and Nissan''s Leaf, which has forced a number of other OEMs to make more serious commitments to developing plug-in vehicles," said Chris Robinson, Lux Research Associate and lead author of the report titled, "."
"Consumers will soon be able to purchase electric vehicles with 200 miles of range for less than $40,000, almost half the price of the long range EVs available today," he added.
Lux Research forecasted the market for about 90 plug-ins and fuel cell vehicles (FCVs) and identified implications for the energy storage industry. Among their findings:
Plug-in hybrid electric vehicles (PHEVs) will do well in unit sales, accounting for 740,000 of 1.5 million plug-in vehicles. Still, EVs will account for over 80% of the energy storage demand, due to their larger battery packs.
Tesla, driven by its forthcoming Model 3, will continue to power the lion''s share of battery demand from EVs through 2020. Although the company is unlikely to meet its own aggressive sales targets, Tesla will still account for nearly half of the EV market''s battery consumption -- followed by Nissan and GM.
BYD will dominate battery demand from PHEVs on the strength of robust sales driven by generous subsidies. But the Chinese company will cede its lead in 2019 when European and American carmakers gain ground. Volkswagen will show the most growth as it focuses on plug-ins following its emissions scandal, while Toyota will continue to lag in PHEV sales as it focuses more on hybrids and fuel cells.
The report, titled "Segmenting the $10 Billion Battery Market for Plug-in Vehicles: Market Share Projections for OEMs, Individual Models, and Suppliers," is part of the Lux Research service.
Lux Research provides strategic advice and ongoing 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 our extensive global network, we deliver insight, connections and competitive advantage to our clients. Visit for more information.
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Datum: 28.06.2016 - 05:30 Uhr
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