The advancement of plug-in hybrid and other electric car technology is waiting on advances in lithium-ion battery technology, and the research and deployment of those next-generation batteries is expected to generate big money.
That's among the conclusions of a technical market research report from BCC Research. (Keep in mind that these reports can be self-serving by hyping products and industries seeking investors.)
Today, the global market for "large and advanced" batteries is $8.9 billion. That is expected to increase an average of 5.1% annually to $11.4 billion by 2012, according to the report.
Next to experimental new research, the largest increase in the market is projected to come from hybrid electric vehicles, including plug-in vehicles. This segment of the market is expected to grow from $789 million to $1.5 billion, an increase of 14.3%.
This is another example of a growth industry that is fostered by the green revolution. Both Barack Obama and Hillary Clinton have proposed programs that would increase research and development on green technologies and a new "green collar" workforce. Republican candidates have also talked about the potential of creating jobs through energy investments, though with less specificity or allegiance to clean and renewable fuel technology.
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