Lithium-Ion batteries for recreational vehicles must be extremely durable, reliable, and powerful. The battery for recreational vehicles (RVs), is an energy storage device that supplies electric input energy to the vehicle’s electric components. The batteries of Recreational Vehicles (RVs), are an integral part that support the various internal and external components of electric vehicles. In the near future, the main factors that will influence the demand for Recreational Vehicles Batteries (RVs), are growing electrification and increased recreational activities around the world. Lithium-based batteries for recreational vehicles (RVs), have a higher density and greater capacity than lead acid or other types of batteries. The forecast period will see lithium-based batteries gain popularity. The changing market momentum for recreational vehicles (RVs), also has an impact on the demand for batteries. According to Allied Market Research, the global recreational vehicle batteries market was estimated at $0.43 billion by 2020. It is expected to grow to $0.69 billion by 2030. This represents a 5.1% compound annual growth rate. According to the report, “Factors like the changing outlook on leisure and recreational activities, as well as the rise in electrification activities are expected to drive growth of the recreational vehicle (RV) batteries market.” The market’s growth is impeded by an instable supply of raw materials. However, market players can expect to reap the benefits of strong distributors and dealers networks entering into agreements or contracts with recreational vehicle manufacturers. Today’s active companies include Expion360 Inc., QuantumScape Corporation, (NYSE: QS), Microvast Holdings, Inc., FREYR Batterie (NYSE: FREYR), ESS Tech, Inc., (NYSE: GWH).
Allied Market Research stated that “Leisure is gaining popularity in recent years around the world as everyone is focusing on a positive lifestyle for stress management.” Globally, recreational activities are supported by weather conditions, geopolitics and changes in consumer spending outlook. Citizens around the world have embraced healthier lifestyles and have driven growth in outdoor and active recreation. The U.S.’s Bureau of Economic Analysis published data that shows the outdoor recreation sector accounted for 2.1% of the country’s gross domestic product (GDP). It is expected that recreational activities will continue to grow in popularity. Recreational vehicles are used widely for recreational purposes around the world. In the last few years, the changing lifestyles and increasing health concerns are expected to drive the growth in recreation activities. It is anticipated that recreational activities will increase, which will in turn help to grow recreational vehicle batteries in the near future.
Expion360 Inc. NASDAQ: XPON NEWS: Expion360, Inc., a market leader in lithium batteries and accessories, announced today that it is now UL 1973 compliant on its 60-120Ah battery.
Due to growing demand for lithium batteries they were included in the 2020 edition American Standards Institute (ANSI), Low-Voltage Standard. The RV Industry Association recognizes third-party listing agencies that must list lithium batteries in order to be included in RV products. Their independent stamp of approval covers thermal runaway, having a management system or protection system that provides safety in situations where high/low voltages are reached and high temperatures, as well as cell balance.
Safety is the cornerstone of all our battery designs. John Yozamp CEO stated that meeting UL 1973 compliance was essential for our continued success and a milestone in Expion360. CONTINUED… Read the Expion360 (XPON) full press release by going to: https://investors.expion360.com/news
This week’s market news and developments:
QuantumScape Corporation (NYSE: QS), a leader developing next-generation solid-state lithium-metal battery technology for electric vehicles, has recently announced it’s expansion into Asia-Pacific with a Kyoto, Japan office. The new property will include a state of the art laboratory for battery research, development and testing.
QuantumScape has developed solid-state lithium metal battery technology. It is designed to provide a combination of high driving range and energy density. QuantumScape also offers fast charging capabilities. This is not possible with traditional lithium-ion batteries. The company is a close partner with Volkswagen Group, and has agreements with two major global automakers.
Microvast Holdings, Inc. (NASDAQ: MVST), a global leader in next-generation battery technology for commercial vehicles, recently announced two new lithium ion batteries to its product range, as well as improved Gen 4 battery packs.
The 48Ah and 53.5Ah NMC lithium battery cells are specifically designed to meet different technical requirements. They can be used to power commercial and special vehicles. This is because optimal battery design is difficult due to inherent tradeoffs in power and energy inputs. Both pouch cells can be used in Microvast’s Gen 4 battery packs. They are the same size. Customers have the option to select from standardized cells that can be used for high-power or high energy requirements, without having to modify the powertrain design. This allows customers to find a single solution for many applications.
FREYR battery (NYSE: FREY), which is a developer of next-generation, clean-running battery cells, has recently announced the Norwegian Green Platform initiative (the “Green Platform”) to $11 million (NOK100 million). This grant was made possible by the Research Council of Norway and Innovation Norway. This initiative is designed to create a platform for sustainable battery production.
Together with SINTEF, the Institute for Energy Technology and the consortium of companies, the project “Sustainable Materials for the Battery Value Chain” will be initiated. They will collaborate to reduce their environmental footprints throughout the value chain. This includes active battery material production, cell production, safety, and recycling modeling, as well as the development of batteries. The Green Platform supports companies and research institutions in transforming energy through innovation and research. Both national and international experts have thoroughly reviewed the project.
ESS Tech, Inc. (NYSE: GWH), a U.S. producer of long-duration batteries suitable for commercial and utility-scale energy storage applications, recently declared that it would expand its European operations to meet the strong demand for long-duration energy storage solutions.
ESS will begin European deployments of its long-duration battery systems in the second half 2022. If Europe is to achieve the UN climate change goals of Grid Net Zero by 2040 1,, it will need up to 20TWh of long-duration storage energy storage. LDES will reduce dependence on electricity-generating gas in Europe as the transition to renewables is expected to accelerate after the Russian invasion.