The Global Market for Rechargeable Batteries is Projected to Exceed US$33 Billion by 2022

The Shift Towards Electric Vehicles in the Automotive Sector & Technological Advancements Drive Demand for Rechargeable Batteries, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Rechargeable Batteries market. The global market for Rechargeable Batteries is projected to exceed US$33 billion by 2022, driven by the growing momentum towards full scale commercialization of electric vehicles, continuous innovation in lithium-ion battery chemistry and the acute need for robust battery power in next-generation portable devices.

Batteries are a vital power source for a wide range of power-hungry electronic devices. The growing popularity of consumer electronics has widened rechargeable battery applications in devices such as tablets, smartphones, laptops, cell phones, and cameras, among others. There is strong potential for batteries with novel features such as high-energy density, long life, lighter weight and eco-friendly features. Li-ion batteries, in this regard, is growing in popularity and will benefit significantly from the proliferation of next-generation portable devices; EVs, HEVs, and PHEVs. These batteries are set to emerge as the battery chemistry of choice for xEVs in the coming years, taking over NiMH batteries that were preferred earlier. However, across many applications, NiMH batteries remain a price-efficient solution owing to their performance characteristics and lower price/kWh. Li-ion batteries have revolutionized the rechargeable battery market. All mobile, electronic devices and electric cars are creating enormous demand for these batteries. The advanced batteries are capable of providing double the energy of the old versions and are also cheaper. Despite the developments achieved so far, the technology still requires significant improvements to enable successful commercialization of electric vehicles.

Modern Li-ion batteries are only capable of holding up to 30 percent more energy-by-weight which is not sufficient when compared to the performance of petrol tanks in conventional vehicles. Companies are therefore stepping up R&D investments in nanotechnology and advanced electrode designs to make lithium-ion more robust. Electric vehicles are fast gaining ground worldwide and the battery technologies required for powering these electric vehicles are also achieving notable developments. Significant improvements were achieved in the areas of weight, affordability and space required over the years. Majority of e-vehicles today use Li-ion batteries. The technology is also being investigated for further developments by car manufacturers such as Nissan and Tesla which have lately invested significantly in these areas. Noteworthy battery innovations for e-vehicles are concentrated in areas encompassing solid state semiconductors, aluminum-ion, lithium-sulfur, and metal-air battery chemistries.

As stated by the new market research report on Rechargeable Batteries, Asia-Pacific represents the largest and the fastest growing market worldwide led by India, China and South Korea. Lithium-ion battery represents the largest product market supported by the need for high-energy density, long life, lighter weight and eco-friendly batteries in consumer electronics. Lithium polymer batteries also ranks as the fastest growing market with a CAGR of 9% over the analysis period driven by expanding applications in notebook computers and other electronic devices.

Major players covered in the report include Battery Technology, Inc., Beckett Energy Systems, BYD Company Ltd., Duracell Inc., EaglePicher Technologies, LLC, E-One Moli Energy Corp., Energizer Holdings, Inc., Eveready Industries India Ltd., FDK Corp., GP Batteries International Ltd., GS Yuasa Corp., GS Yuasa Lithium Power Inc., Highpower International Inc., Hitachi Maxell Ltd., Jiangmen TWD Technology Co., Ltd., Johnson Controls, Inc., LG Chem Co., Ltd., Panasonic Corp., Panasonic Industrial Devices Sales Company, SANYO Electric Company Ltd., Saft SA, Samsung SDI Co., Ltd., Sony Corp., Spectrum Brands Holdings, Inc., VARTA Consumer Batteries GmbH & Co., KGaA, TCL Hyperpower Batteries, Inc., Ultralife Batteries, Inc., and Valence Technology, Inc., among others.

The research report titled "Rechargeable Batteries: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, growth drivers, product innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). The report also analyzes the global market for Rechargeable Batteries by battery chemistry such as Nickel-Cadmium, Nickel-Metal Hydride, Lithium-Ion and Lithium-Ion Polymer. 

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