BOSTON, Massachusetts, March 3, 2016 /PRNewswire/ --
The electric bus (e-bus) market is growing at a CAGR of 20% in terms of unit sales. The rapid growth is a game changer for the battery market as electric buses require large-sized batteries ranging from 74 kWh (fast charging e-bus) to over 300 kWh (slow charging e-bus). This is why IDTechEx Research forecasts that the e-bus battery market will overtake the consumer electronics sector by 2020. Indeed, the brand new IDTechEx Research report "Lithium-ion Batteries for Electric Buses 2016-2026" predicts large e-bus battery market will grow to $30bn by 2026, potentially making it the largest segment of the overall battery market (Figure 1).
This prospect is defining the battle lines in the battery value chain. Indeed, we expect that this sector will alter the entire value chain for battery production from material suppliers, battery manufacturers through to original equipment manufacturers (OEMs).
Note that electric buses make and break the fortunes of other energy storage technologies. They became the largest market for supercapacitors until they were designed out causing a market decline. We expect to see substantial innovation in this sector going forwards. The race is on to develop higher energy, faster and safer large-sized energy storage technologies.
This brand new report from IDTechEx Research "Lithium-ion Batteries for Electric Buses 2016-2026" gives an in-depth market analysis on the dynamics of lithium-ion batteries currently used in electric buses and provides forecast on future developments and market share for the different lithium-ion chemistries. The report covers the main lithium-ion variants used in electric buses (under 8 ton and over 8 ton hybrid and electric buses), demand and sales forecast from 2016 to 2026, market share and size and key players in the battery and electric bus industry. The role of other energy storage systems such as supercapacitors, lithium capacitors, fuel cells, advanced and post lithium batteries and flywheels and how they would affect the battery market for electric buses are all discussed. Key questions relating to driving factors of adoption, market shares, limitations, battery chemistry types and many more are addressed.
SOURCE IDTechEx Research