AAB Announces HEV Battery Market Study Results
Advanced Automotive Batteries (AAB, Oregon House, CA) announced that the market for advanced hybrid-electric vehicle (HEV) batteries will grow from approximately $70.0 million this year to over $250.0 million by 2005 and is expected to top $500.0 million by 2009, according to a new study, "The 2001 Advanced Automotive Battery Industry Report," to be published by the company in November 2001.
The study analyzes the battery requirements set by all major automakers for HEVs. Nickel-metal hydride (NiMH) is the incumbent technology for these applications due to its longevity under heavy usage. Lead-acid batteries are considerably more affordable, but last less than two years under typical HEV duty. The study discusses the likelihood of other advanced batteries, including lithium-ion batteries to provide sufficient value to compete for this market in the future.
The study also discusses the plans of the major automakers and their battery suppliers for the commercialization of HEVs and HEV batteries. Toyota, Honda, Ford and PSA (Peugeot) are leading the commercialization of HEVs, but most other major automakers expect to offer HEVs in commercial volume by 2006.