NOTE: I DO NOT believe high tech solutions are the future of energy if we want a sustainable future. Lux Research has crunched some numbers for those of you following the high tech 'brass rings'... I am not one of them.
LUX - Energy Storage Fully Charged to Drive a $44 Billion Market
The momentum behind emerging power storage technologies will drive a 15.7% compound annual growth rate (CAGR) through 2015, says 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.
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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.
Read more at Lux Research
