Improved Value Propositions, Emissions Targets and Declining Costs Drive Advanced EV Battery Market

Battery

 

Oct 29, 2018

According to a new report from Navigant Research, improved value propositions for light electric vehicle (LEV) customers, emissions goals, and declining costs of advanced batteries, are all driving the market for advanced batteries for LEVs forward. The report examines the growing global market for advanced batteries in 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.
“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. 

Find out more about the report: www.navigantresearch.com/reports/market-data-advanced-batteries-for-light-evs
Photo source: Gerd Altmann on Pixabay

Related Articles

Latest Articles

  • ABB Wins New Product Award at MCEE Show

    ABB Wins New Product Award at MCEE Show

    April 28, 2025 ReliaHome™ Smart Panel won Best New Product Award in the Software, Controls and Related Components category. Iberville® Gangable boxes with low-voltage cables support bracket was recognized as a finalist in the Commercial, Institutional and Industrial Electrical Products category. ABB was honored with a Best New Product Award in the Software, Controls and… Read More…

  • Weidmuller Celebrating a Legacy: 175 Years Globally, 50 Years in Canada

    Weidmuller Celebrating a Legacy: 175 Years Globally, 50 Years in Canada

    April 28, 2025 The year 2025 is truly special for Weidmüller. The company proudly celebrates not just 50 remarkable years in Canada but also its 175th anniversary globally—an extraordinary achievement few companies can claim. This legacy is a testament to the company’s relentless pursuit of innovation and commitment to refining its offerings. But the journey… Read More…

  • Canada Stands Tall at Hannover Messe 2025

    Canada Stands Tall at Hannover Messe 2025

    April 28, 2025 By Owen Hurst At Hannover Messe earlier this month Canada had a strong presence as the host country with a wide variety of companies and programs focusing on the development of advance technology. The presence was accentuated by numerous halls hosting Canada pavilions. Partner Country Canada presented itself impressively at HANNOVER MESSE…. Read More…

  • BC Prompt Payment Legislation Progressing

    BC Prompt Payment Legislation Progressing

    April 28, 2025 Consistent with its mandate of growing the economy, the government wants to ensure that businesses are paid promptly for work performed on (or material provided to) construction projects. British Columbia’s Ministry of Attorney General staff have been tracking the issue of payment delay in the construction industry, including legislative responses in other… Read More…

Changing Scene

  • Schneider Electric Advances in Product Environmental Data Transparency

    Schneider Electric Advances in Product Environmental Data Transparency

    April 28, 2025 Schneider Electric has launched its Environmental Data Program. This initiative, which builds on the legacy Green Premium label, provides customers with unique access to information on the environmental impact of its products, enabling them to make better informed, data-based decisions and meet evolving regulatory requirements with confidence. Schneider Electric has frequently been recognized… Read More…

  • nVent Sustainability Report Highlights Progress and Focus on Electrification

    nVent Sustainability Report Highlights Progress and Focus on Electrification

    April 15, 2025 nVent Electric plc announced the release of its 2024 Sustainability Report. The new report highlights nVent’s achievements in each of its sustainability focus areas: People, Products, Planet and Governance. The report also highlights how nVent solutions support electrification, digitalization and sustainability efforts around the world. “nVent is becoming a more focused electrical… Read More…

  • Ontario Introduces Legistlation to Unlock Trade and Labour Mobility Within Canada

    Ontario Introduces Legistlation to Unlock Trade and Labour Mobility Within Canada

    April 18, 2025 As a next step in its plan to protect Ontario by unleashing the province’s economy, the Ontario government is introducing the Protect Ontario through Free Trade within Canada Act to unlock free trade and labour mobility within Canada. This legislation will, if passed, create new opportunities for job creation and investment attraction, supporting economic… Read More…

  • Ontario, P.E.I. Join Nova Scotia With Legislation to Remove Internal Trade Barriers

    Ontario, P.E.I. Join Nova Scotia With Legislation to Remove Internal Trade Barriers

    April 18, 2025 Prince Edward Island and Ontario have joined the Nova Scotia by introducing reciprocal legislation that will help foster an environment of mutual recognition of goods, services and labour mobility between these provinces. “Leaders across the country are expressing interest in removing trade barriers, and I’m very pleased that P.E.I. and Ontario have… Read More…