Report: Traction Battery Industry to Exceed $55 Billion by 2022

4 years ago by Eric Loveday 4

This Here is What's Considered a Traction Battery

This Here is What’s Considered a Traction Battery

Take all forward-looking reports with a grain of salt.

It’s simply impossible to predict what the world will hold 10 years from now, but that doesn’t stop research firms from trying.

This is Too

This is Too

This latest report, presented by Market Research, focuses solely on traction batteries.  A traction battery is defined here as any battery-type power source used to propel some sort of transport device (i.e. heavy industrial, light industrial/commercial, mobility for the disabled, two wheeler, pure electric cars, hybrid cars, golf carts, military, marine and so on).

So, it’s evident that traction batteries are not only used in automobiles.

With that out of the way, let’s move on to the findings presented by Market Research.

  • The rapidly growing market for traction batteries will exceed $55 billion in only ten years.
  • Battery sets (cost) up to $500,000 each with great sophistication needed for military, marine and solar aircraft use.
  • The largest replacement market is for e-bikes today.
  • Replacement batteries will not be dominated by cars when these batteries last the life of the cars—something likely to happen within ten years.
  • Vehicle manufacturers are often employing new battery technology first in their forklifts or e-bikes, not cars.
  • There is huge progress with car batteries as well—indeed oversupply is probable in this sector at some stage.
  • The second largest volume of electric vehicles being made in 2010 is mobility aids for the disabled but in ten years time it will be hybrid cars.
  • The market for car traction batteries will be larger than the others but there will only be room for six or so winners in car batteries.

Most of these findings sit well with us and we’d sure like to see one of those $500,000 battery packs.

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4 responses to "Report: Traction Battery Industry to Exceed $55 Billion by 2022"

  1. bloggin says:

    With the limitless free power of the sun, it is the consistent evolution of more efficient solar cells and battery storage technology that makes battery power our future primary source of power and propulsion.

    When all new construction, commercial and residential, is required to contain X percent of solar panel coverage per surface area, that powers the structure or sells it back to the grid, we will be on our way.

    1. Anderlan says:

      As time goes on, “solar plus batteries versus central grids” looks more and more like “cell phones versus landlines.” I mean, the parallels keep getting tighter.

  2. Anderlan says:

    “Most of these findings sit well with us and we’d sure like to see one of those $500,000 battery packs.”

    “I’ve got an idea for an electric jet” -Elon Musk playing Elon Musk in Iron Man 2.

  3. Nelson says:

    I still don’t understand why the Volt battery cells aren’t slanted to reduce overall height. Doing this would increase the length no more then the height of a cell.
    All I want for that suggestion is a new Volt 2.0 with battery slant cells. 🙂

    NPNS!
    Volt#671