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Batteries & Other Energy Storage Solutions: Latest Industry Trends and Statistics

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Global Battery Industry

Global battery demand continues to grow in tandem with the plethora of automated gadgets and portable electronic devices continually being launched on the market. Energy technology density rises at a yearly rate of around 5%, making battery chemistries slower to develop than electronic goods, with processing power that doubles every 18 months, according to Global Industry Analysts. Demand for batteries is projected grow over coming years as private consumers and businesses need batteries to power the various devices necessary for day-to-day living.

Technology

While the global battery control technology market was considered mature by the late 90s, other factors (such as advancements in microelectronic battery charger controller technology) has lead to the rise of new battery categories and boosted the commercialization of existing battery systems. BCC Research points to the importance of improved battery control technology for the commercialization of products such as multi-functional handheld products, mobile phones, electric vehicles and computers.

Battery control technology is, therefore, a sector with vast growth potential, especially linked to emerging industries. Collaboration between battery designers and battery converters, conditioners and chargers is set to contribute to the introduction of new batteries and battery control techniques, resulting in increasingly high-performing products.

Key Segments

The world rechargeable batteries market has a forecast worth of almost $21.5 billion for 2017, according to research from Global Industry Analysts. Market growth will be fuelled by growing power needs linked with the growing reliance on electronic portable equipment. Electronic devices such as smartphones, mobile computing devices and digital cameras are constantly increasing the demand for rechargeable batteries.

Global Industry Analysts estimates the world consumer batteries market will be worth close to $55.5 billion by 2017. Market expansion is driven by growing demand for portable electronic devices, rising levels of consumer income, a trend towards using Lithium polymer batteries in devices such as mobile phones, increasing adoption of rechargeable batteries and expanding end-use device markets.

Economic growth will continue to fuel primary and secondary consumer battery demand over coming years. The growing popularity of battery-enabled consumer devices along with consumer buying power will drive demand for high-performance batteries. China will lead the global consumer battery market both in terms of volume and growth. This is due to rising consumer income, widespread industrialization and economic growth.

Other emerging consumer battery markets with strong potential include South Korea, India, Iran, Argentina, Poland and Indonesia. Growth in mature markets such as Japan, the US, and the EU will record a slower rate of expansion through 2017. These markets will account for a significant share of the world consumer batteries market by that time, driven by growing demand for battery-enabled consumer electronic products.

Regional Market Share

The US primary and secondary battery market is forecast to grow at a yearly rate of almost 5% through 2015 to reach almost $17 billion, reports Freedonia. Market growth is fuelled by demand for replacement batteries to operate electronic devices, with high-performance batteries in great demand. The motor vehicle sector will also create battery demand as the industry continues to rebound, with growth in the hybrid and electric vehicle sector proving of particular benefit to battery sales. Industrial sector demand will also have a positive impact on the battery market. Price moderation will, however, limit gains in the battery market along with advancements in battery design resulting in longer life spans, leading to less frequent battery replacement. US battery shipments are forecast to increase at 5% a year to reach $13 billion in 2015. Factors contributing to the increase include increasing use of hybrid and electric vehicles, calling for higher production levels of Li-Ion batteries. Competition from foreign suppliers will limit gains, with the US battery trade deficit set to deepen between 2012 and 2015.

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