LONDON, June 26, 2018 /PRNewswire/ --
One of the big topics in the metals arena is the path of vehicle electrification around the world as governments look for ways to reduce vehicle emissions as part of a broader aim to lower pollution levels.
- Global vehicle population growth to continue, but powertrain to undergo major change.
- Internal Combustion Engine (ICE) vehicle demand to peak in mid-2020s, with fuller Hybrid Electric Vehicles (HEVs) and full Battery Electric Vehicles (BEVs) taking up the reins.
- Vehicle electrification and automotive battery story almost invariably overlooks the dominant current role of lead-acid batteries.
- It is not just a case of new automotive lead-acid batteries as the replacement of failed units will continue to grow well beyond any decline on the OE side.
- Lead-acid batteries also enjoy a big presence in many non-automotive (industrial) applications.
- Still plenty of room for lead-acid battery dominated lead demand to grow into the next decade.
Having risen through most of the last century, the world's vehicle population has continued on an upward path and CRU expects growth to continue until the mid-2030s. However, the structure of the global vehicle market will undergo major change in the intervening years, with a more diverse range of 'new energy' vehicles (NEVs) required. By the mid-2020s, both fuller HEVs (Hybrid Electric Vehicles) and full BEVs (Battery-power Electric Vehicles) could begin to take a notably larger global OEM vehicle market share away from more conventional ICE (Internal Combustion Engine) vehicles.
Almost all of the analytical and media focus is on the rise of lithium-ion batteries (LIBs) to provide the greater power needs for these NEVs. Of course this will require higher supplies of the raw materials used to make LIBs, resulting in bullish demand and price outlooks for lithium, cobalt and nickel. CRU's new service, Battery Metals Market Outlook (BMMO), provides much more detailed analysis on the above points.
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