Navigant Research Report Finds Improved Value Propositions, Emissions Targets, and Declining Battery Costs Are Driving the Market for Advanced Batteries for Light EVs
Volumetric energy density and battery life are the most important properties to consider when pursuing new advanced battery breakthroughs
BOULDER, Colo.: A new report from Navigant Research examines the growing global market for advanced batteries in light electric vehicle (LEV) applications, providing forecasts through 2027, as well as a review of various battery technologies and regional trends.
LEVs, including low speed EVs, electric bicycles, and electric-powered two-wheel vehicles, offer the ability to improve personal mobility while reducing pollution from the transportation sector. Key to their performance are advanced batteries, including lithium ion (Li-ion) batteries, which have taken industry precedence thanks to superior energy density and rapidly falling costs. Click to tweet: According to a new report from @NavigantRSRCH, improved value propositions for LEV customers, emissions goals, and declining costs of advanced batteries, are all driving the market for advanced batteries for LEVs forward.
“Volumetric energy density and battery life are the two most important properties to consider as new advanced battery technical breakthroughs are pursued,” says Ian McClenny, research analyst with Navigant Research. “Greater energy density remains desirable, but not at the expense of the battery’s lifespan. Advanced battery manufacturers should push to achieve this goal.”
Though Li-ion is the overwhelming technology choice for LEVs over the next 10 years, next-generation advanced battery manufacturers can test the viability of new chemistries in motive applications in the LEV market. According to the report, doing so presents a low risk and high reward value proposition as this market grows.
The report, Market Data: Advanced Batteries for Light EVs, examines the growing global market for advanced batteries in LEV applications. The study assesses the different vehicle types, including low speed EVs (LSEVs), electric bicycles, and electric-powered two-wheel (e-PTW) vehicles, and use cases for LEVs. Global market forecasts, segmented by vehicle type, technology, and region, extend through 2027. The report also includes a review of the different battery technologies (Li-ion, advanced lead-acid, next-generation advanced, and SLA batteries) and the related regional trends, drivers, barriers, and value propositions. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Market Data: Advanced Batteries for Light EVs, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.