These electric vehicles offer improved fuel economy, lower emissions, and a quieter ride than comparable traditionally powered internal combustion engine (ICE) vehicles, with several key variations in driving range capabilities.
This combination will particularly appeal to consumers in the North American market where fuel costs are rising and range anxiety continues to be a concern (whether perceived or real).
As many automakers move into the plug-in vehicle market, they will find they are competing with a wide range of competitive options and brand loyalty.
Additionally, new research is showing that in the United States consumers are still wary about high upfront costs for electric cars with lithium ion batteries and government incentives will continue to play an important role in the consumer marketplace for many years to come.
Pike Research forecasts that the market for plug-in hybrid and battery electric passenger cars and light duty trucks will grow at a compound annual growth rate (CAGR) of 106% between 2010 and 2015, resulting in sales of more than 3.24 million vehicles during that period.
This Pike Research report analyzes opportunities and challenges in the emerging market for PHEVs and BEVs. The report provides a comprehensive examination of electric drivetrain and battery technology, advanced battery research, government incentives and regulations, and key drivers of market growth.
The study includes detailed lists of expected vehicles coming soon, forecasts through 2015 for light duty vehicle sales and production, hybrid, plug-in hybrid, and battery electric vehicles in world regions, as well as vehicle segments and selected manufacturers for the United States. Key market players are also profiled.
Energy Storage Systems for Ancillary Services
Stationary energy storage will have a large role to play in the electricity grid of the future. Demand is being driven by several key trends, including the proliferation of intermittent renewable energy sources such as wind and solar, the onset of the smart grid concept and a shift to plug-in hybrid and electric vehicles. Energy storage systems (ESS) are being developed by technology providers in a wide range of solutions, from batteries, flywheels and mechanical storage. One key emerging area within the ESS market is the Ancillary Services sector, which includes applications such as frequency regulation, spinning reserve, voltage control, and other fast response services.
ESS systems providing ancillary services offer sustained energy requirements of typically less than one hour, and often minutes or seconds, and a response time that is often near-instantaneous. The technologies best suited to provide ancillary services are lithium ion (Li-ion) batteries and flywheels, although Pike Research anticipates that a range of technologies and configurations will compete in this market.