mainly by falling growth and sensitivity risk. Lower growth risk is a result of more efficient batteries, which lower ownership costs for consumers, and result in strengthened demand for industry products. Additionally, improved electric vehicle batteries make manufacturers more resistant to volatile oil prices, thereby lowering sensitivity risk.
While the overall decrease in risk
stry growth figures and trends in low-cost 3D g
ly 60 co-authors worldwide with expert analysis : Sections on China, Africa, metals, and the future
rsassociates.com
is low, the entire manufacturing sector benefits from a strengthened automobile sector. These 10 segments are estimated to generate a combined $431.1 billion in revenue during 2013, accounting for 7.6% of manufacturing output and 3.1% of US GDP. As a result, stable demand for automobile manufacturers could po- tentially ripple across the manufacturing sector, leading to strengthened revenue and job growth. For instance, metals and chemicals manufacturers will benefit from growth in automobile manufactur- ing because they supply the intermediary materials used to manufacture automo- bile components and parts.
What the Future Holds
In coming years, growth among electric vehicles manufacturers could potentially fuel overall growth of the automobile-manufacturing sector. In particular, advances in electric vehicle battery technology can lower the cost of vehicle ownership, which will increase consumer demand for electric vehicles. Cheaper batteries also reduce the impact of high oil prices on downstream demand for cars, lowering the revenue volatility of automobile manufacturers. Both of these factors will bolster the long-term sustainability of the automo- bile-manufacturing sector, which in turn benefits other manufacturers along the supply chain. However, if technological developments stagnate, EVs and PHEVs will continue to have high ownership
costs, leading these products to have limited market penetra- tion. As a result, effective research and development will remain vital to the success of electric vehicles and the overall automobile-manufacturing sector. ME
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June 2013 |
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