The global market for electric vehicle power sources is continuing to grow in most market sectors, according to “Electric Vehicle and Fuel Cell Power Sources: Technologies and Global Markets,” a recent report from BCC Research. The foundation for much wider electric vehicle (EV) use is now well established, and private and government-backed plans are well-financed for the introduction of large numbers of next-generation vehicles. As the market for battery-powered vehicles flourishes, the emerging market for fuel cell-powered vehicles is just beginning.
The global EV power sources market in 2013 was worth more than $11.9 billion at the manufacturers’ level. This market is expected to spread at a compound annual growth rate (CAGR) of 11.1% between 2014 and 2019.