ENERGY STORAGE TO BE $50BIL MRKT

Energy Storage Market Rises to $50 Billion in 2020, amid Dramatic Changes Driven by plug-ins, transportation applications will be worth $21 billion, closing the gap on electronics’ $27 billion market…

July 15, 2014 (Lux Research)

“Energy storage, driven largely by electronics and plug-in vehicles, will grow at a compound annual growth rate of 8% to $50 billion in 2020, with dramatic shifts coming from the transportation industry…Transportation applications will outpace electronics growth – attaining an 11% CAGR to become a $21 billion market by the end of the decade…[Electronics] will remain the single largest market valued at $27 billion…With global sales of 59 million, a 53% market share and $6.1 billion in annual revenue, micro-hybrids will, for the first time, overtake the conventional internal combustion engine and emerge the most popular drivetrain by 2020...With modest sales of 440,000 units, electric vehicles still will use $6.3 billion worth of energy storage…The United States will lead EV sales for most of the decade, peaking at 167,000 units in 2019…[China will nearly catch up with 2020 sales of 145,000]…[The smartphone market will grow] at a 12% CAGR to $8.4 billion in 2020. Tablet computers follow with a 6% CAGR to $12 billion…Driven by solar integration, residential represents the biggest opportunity in stationary energy storage applications – leaping from less than $0.1 billion to $1.2 billion in 2020…” click here for more

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