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

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
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