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Strategic Analysis of Battery Technologies for Electric and Hybrid Vehicles in South Korea
Frost & Sullivan, Dec 2010, Pages: 105
This research service includes analysis of battery technologies for electric and hybrid vehicles in South Korea. It includes market overview of definitions of hybrids and electric vehicles, schematic representation of mild hybrids, full hybrids and electric vehicles, hybrid and electric vehicle strategies of OEMs in South Korea, introduction of hybrids and electric vehicle models, industry challenges, market drivers and restraints, product and technology roadmaps. It also includes battery market that includes market life cycle analysis, market size and forecasts for hybrids and electric vehicles, market breakdown by type of alternative powertrain and type of batteries
Research Overview
This Frost & Sullivan research service titled Strategic Analysis of Battery Technologies for Electric and Hybrid Vehicles in South Korea provides an overview of the hybrid and electric vehicle (EV) market and type of battery technologies adopted in South Korea. It also includes market forecasts by type of motor, hybrid type, EV type, market drivers and restraints, partnership and distribution network and supplier profiles. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: basic (A), sub-compact (B), compact (C), mid-size (D), large (E), large plus (F), multi-purpose vehicle (MPV), pick-up (PUP) and sport utility vehicle (SUV).
Market Overview
Lithium-ion Polymer Batteries to Dominate the Battery Market for Hybrid and Electric Vehicles in South Korea
Hybrid and EVs are riding a wave of popularity, as increasing social responsibility and environment consciousness are driving consumers to invest in fuel-efficient and low-emission vehicles. Original equipment manufacturers (OEMs) and suppliers will be keen to make the most of this trend and showcase their Green image by promoting zero-emission vehicles. Their endeavours are expected to expand the market size of hybrids from approximately 13,100 in 2010 to 131,500 in 2016 and EVs from 150 in 2010 to nearly 74,000 in 2016. Consequently, Frost & Sullivan estimates the lithium-ion polymer battery volume for hybrid and EVs to increase from approximately 6,200 in 2009 to 201,500 in 2016 at a compound annual growth rate (CAGR) of 65 per cent. The volume of lead-acid batteries is likely to increase from 13,780 in 2009 to 368,800 in 2016 at a CAGR of 55 per cent.
To tap the hybrid and EV market optimally, battery manufacturers have to tweak their technology. As hybrid and EV manufacturers are not completely satisfied with the current batteries, market participants will be compelled to develop advanced battery technologies such as Zinc Air batteries that help increase range and top speed, especially in EVs. “Presently, lithium ion battery is still at research and development stages and the technology has not been proven yet,” says the analyst of this research. OEMs need to develop a variety of hybrid and EV models to compete with conventional vehicles. New technologies and rapid improvements in hybrid powertrains, resulting in greater fuel efficiency, reliability, lifespan and improved performance, is a step in that direction.
Power electronics suppliers have a wide range of opportunities for the integration of battery monitoring units for battery application in hybrid and EVs. The battery control unit is integrated along with the battery and will be controlled by a centralised hybrid or EV controller. “Batteries are likely to be the main storage units and will influence the future design and testing of vehicles for OEMs,” notes the analyst. “OEMs and suppliers have to collaborate closely to develop batteries to catalyse the commercialization of alternative powertrain vehicles.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Basic (A)
- Sub-compact (B)
- Compact (C)
- Mid-size (D)
- Large (E)
- Large plus (F)
- Multi-purpose vehicle (MPV)
- Pick-up (PUP)
- Sport utility vehicle (SUV)
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