Add UK-based Frost & Sullivan as the latest research firm to forecast a big jump in lithium-ion battery sales, implying that a jump in plug-in vehicle sales is in the making.
Frost & Sullivan says global li-on battery sales will jump sixfold to $12.84 billion in 2019, up from $2.13 billion in 2012. Working as a tailwind of sorts are factors such as oil-price volatility, government incentives for plug-in vehicle purchases, infrastructure improvements and lower prices that go hand-in-hand with higher production numbers. No specifics were broken out on numbers of hybrids, plug-in hybrids or electric vehicles.
Last May, Munich-based Roland Berger Strategy Consultants warned of a potential overcapacity in lithium-ion battery production, estimating that industry sales will reach $9 billion by 2015. That year, RBSC predicts, battery supply will be about twice as high as demand. AESC, LG Chem, Panasonic/Sanyo, A123 Systems and SB LiMotive will have almost three-quarters of the global lithium-ion battery market by 2015, Roland Berger said last year.
Check out Frost & Sullivan's press release below.