KUALA LUMPUR, Aug 1 (Bernama) -- The volume of electric vehicle (EV) battery pack shipments will reach 30 million in 2027 from just 10 million in 2022, according to a new study by Juniper Research.
The research identified falling vehicle costs, often directly caused by government subsidies, and increasing awareness around the environmental impact of current mobility services as key drivers behind the growth in EV battery production.
The research predicts that growth will be strongest within the commercial segment, with commercial EV battery pack shipments growing from 1.4 million in 2022 to over seven million by 2027.
Mass electrification of fleet vehicles is required for meeting corporate decarbonisation goals and will drive investment into EVs from enterprises.
In turn, this provides an opportunity for manufacturers to develop batteries designed for energy-intensive commercial use cases.
In a statement, research co-author Damla Sat said: “Developing longer range vehicles by leveraging higher capacity battery packs will be critical to meeting expectations that foster commercial vehicle electrification, but will require extensive investment to develop new battery pack technologies.”
The research predicts that for EVs to reach mass adoption across commercial use cases, including heavy goods haulage and passenger transport, scaling the production of new battery technologies is essential.
This includes solid-state batteries and new chemical mixes.
Juniper Research provides research and analytical services to the global hi-tech communications sector providing consultancy, analyst reports, and industry commentary.
-- BERNAMA
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