30 Million EV Battery Packs in 2027?
There are expected to be about 10 million EV battery packs shipped in 2022 globally, according to research firm Juniper Research. The company forecasts that number will rise to 30 million in 2027.
While much of this growth is going to come from the electric car market, the biggest jump in battery pack shipments is expected to come from the commercial EV market. The commercial EV market is expected to go from 1.4 million (2022) to 7 million (2027) in the next five years, a five-fold increase.
“Mass electrification of fleet vehicles is required for meeting corporate decarbonisation goals and will drive investment into electric vehicles from enterprises. In turn, this provides an opportunity for manufacturers to develop batteries designed for energy-intensive commercial use cases.”
Full electric vehicles (BEVs) accounted for 8.6% of global auto sales in May. If you do a simple calculus and multiply that BEV market share by three (since Juniper Research’s simple conclusion is that EV battery pack output will triple from 2022 to 2027), that shows BEVs reaching 25.8% of global vehicle sales in 2027.
Realistic? Is Juniper Research on the right track? Is it all just a guess at this point?
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