The global market for large and advanced batteries increased from $8.4 billion in 2006 to $8.9 billion in 2007. It should reach $11.4 billion by 2012, a compound annual growth rate (CAGR) of 5.1%.
The global market for new components used in hybrid electric vehicles was worth $1.6 billion in 2005 and is expected to continue growing at a CAGR of 24% through 2010.
Hybrid car owners are the most loyal buyers, with 47% purchasing another vehicle of the same make. The average consumer loyalty for all vehicle classes is 35%.
Energy and clean energy have moved to center stage when considering environmental responsibility and economic stimulus. The old ways of the automotive companies no longer seem to fit the 21st century. There is a renewed emphasis on clean energy and cost-effective transportation that is combined with developing affordable and available hybrid and electric vehicle (HEV) technology. The goal of BCC Research in compiling and publishing the 2008 Hybrid and Electric Vehicle Progress Review is to provide key players with all the important news and analysis from this industry in one publication. This review of the 2008 HEV industry details the high points of hybrid electric vehicles, plug-in hybrid electric vehicles, fuel cells, batteries and the infrastructure of this rule-changing form of transportation and mobility. All the major news stories in HEV technology during 2008 are reviewed, including studies analyzing the feasibility of electric charging grids and other supporting infrastructure for electric vehicles. Trends in the market, emerging technologies, product reviews and challenges facing the industry are all covered in this review.
SCOPE OF THE REPORT
The scope of this report is broad and includes:
Descriptions of concept vehicles currently being designed by AFS Trinity Power, Honda Motor Company, Land Rover, Toyota Motor Company and General Motors
Current and pending legislation and governmental energy policies that will affect growth in the industry
Comparison of worldwide regional markets for HEV technology
Discussion of technological advancements in electric and hybrid engines, transmissions and battery systems
Key market drivers and challenges for the industry.