Traditional Internal Combustion Engine (ICE) powertrains, diesels, are no longer able to keep pace with the stringent emissions requirements being laid down by governments around the world. These requirements are paving the way for Battery Electric Vehicle (BEV) sales to grow from 1.3% in 2018 to 16.4% in 2029, creating an Electric Vehicle (EV) installed base of over 100 million, predicts global tech market advisory firm, ABI Research.
“Simultaneously, automakers are seeking to alleviate consumer fears around EV range by rapidly increasing battery capacity, using new battery technologies, such as silicon-dominant anodes and solid-state designs, to increase cell-level energy density from 250 Watt-Hours per Kilogram (Wh/kg) to more than 500 Wh/kg within the next 10 years,” says James Hodgson, principal analyst at ABI Research.
The expected growth in EVs and the energy density of their batteries represent a considerable challenge to the energy industry, with energy demand for electric passenger vehicles expected to grow from 1,121 Gigawatt Hours (GWh) in 2018 to 19,141 gWH in 10 years.
“While this represents a potential of almost US$20 billion in energy sales by 2028, it also places extraordinary demands on national energy grids, with Transmission System Operators (TSOs) struggling to accommodate the onboarding of BEVs due to the limitations in infrastructure at the last mile, particularly with line constraints, transformer limitations, and the syncing of renewable energy supply with usage,” says Hodgson.