Energy storage market to double by 2015

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Bangalore: The market for electric-vehicle energy storage devices is expected to grow from $7.7 billion in 2010 to $14.5 billion in 2015, according to a report from Lux Research, reports Candace Lombardi from the CNET News. The predicted big growth in the overall market for batteries, fuel cells, and ultracapictors is not going to come from an increase in electric vehicles, but from the explosion of smart grids, as per the research. In its report "Emerging Technologies Power a $44 Billion Opportunity for Transportation and Grid," Lux Research predicts that the overall market will grow from $21.4 billion in 2010 to $44.4 billion by 2015. Smart-grid storage will make up the largest energy storage market growing from $5.4 billion in 2010 to $15.8 billion in 2015, according to Lux Research. There will also be a pointed increase in growth for plug-in and electric-vehicle batteries, but not exactly in the area one might think. Batteries made for electric bikes and scooters will grow from a $6.4 billion market in 2010 to $10.9 billion in 2015, as the vehicles themselves increase in popularity. "Policy makers, auto manufacturers and the media have locked their attention on battery technologies for plug-in and electric vehicles. But in fact e-bikes and scooters will drive the biggest growth for these batteries in the next five years," Jacob E. Grose, Lux Research Analyst and the report's lead author, said.