Navigant Research Report Finds Improved Value Propositions, Emissions Targets, and Declining Battery Costs Are Driving the Market for Advanced Batteries for Light EVs

Volumetric energy density and battery life are the most important
properties to consider when pursuing new advanced battery breakthroughs

BOULDER, Colo.–(BUSINESS WIRE)–#Batteries–A new report from Navigant
Research examines the growing global market for advanced batteries
in light electric vehicle (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. Click
to tweet: According to a new report from @NavigantRSRCH,
improved value propositions for LEV customers, emissions goals, and
declining costs of advanced batteries, are all driving the market for
advanced batteries for LEVs forward.

“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. An Executive
Summary of the report is available for free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, Market Data: Advanced Batteries for Light EVs, is a
summary and reflects Navigant Research’s current expectations based on
market data and trend analysis. Market predictions and expectations are
inherently uncertain and actual results may differ materially from those
contained in this press release or the report. Please refer to the full
report for a complete understanding of the assumptions underlying the
report’s conclusions and the methodologies used to create the report.
Neither Navigant Research nor Navigant undertakes any obligation to
update any of the information contained in this press release or the
report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
lindsay.funicello.paul@navigant.com