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Global Rechargeable Batteries Market to Reach US$21.4 Billion by 2017, According to New Report by Global Industry Analysts, Inc. Read more:

GIA announces the release of a comprehensive global report on Rechargeable Batteries markets. Global market for Rechargeable Batteries is projected to reach US$21.4 billion by the year 2017. Growth will be primarily driven by the ever growing need to satisfy power requirements of virtually all modern electronic portable equipment. Robustly growing demand for energy-hungry electronic devices, such as digital cameras, mobile computing devices, high-end smartphones, bodes well for the future of the market.

San Jose, CA (PRWEB) April 02, 2012

Follow us on LinkedIn – Batteries are indispensable, omnipresent sources of energy that virtually power every portable electronic device and automated gadgets used in the modern world. A healthy future is expected for the market, given the fact that power is an absolute necessity for any society and that recharging an empty battery is critical in sustaining all equipment operations. Advancements in battery chemistries are comparatively slower in comparison to electronic devices such as computers, which double in processing power every 18 months. In case of batteries, the rise in energy density on an average is 5% per annum. Europe represents the global leader in battery research, with several active R&D projects underway among industrial research centers and universities, unlike in Japan where most of the research is carried out by leading battery companies. Poised to witness the strongest gains in research funding are Li-Ion batteries, given the promising potential of this battery technology to meet the growing energy guzzling computing needs of portable consumer products and to meet reliability and scalability demands of electric powertrains in modern vehicles. Incremental advancements in weight, form factor, life span and cost of Li-Ion batteries will open up newer growth avenues in the marketplace.

Consumer electronics industry has and will continue to remain a lucrative end-user of rechargeable batteries. Modern telecommunication devices such as mobile phones are being increasingly equipped with advanced features such as multi-media messaging and TV viewing that utilizes a sizable part of battery power within a short duration, requiring recharging. With the usage of modern electronic devices set to reach new heights in coming years, the rechargeable battery market is forecast to witness stable growth. Another potential laden application area is the automotive industry. The role of rechargeable batteries in the automotive sector is projected to witness rapid growth in the coming years. Different types of rechargeable batteries, especially the Lithium-ion batteries, are expected to expand significantly in the automotive sector. Due to environmental pressures and increasing oil concerns, plug-in hybrid electric vehicles (HEVs) are gaining prominence as a sophisticated heavy-duty and light vehicle technology. Many regions across the globe including Japan, the US and Europe, are engaged in developing and deploying electric vehicle technology. Several electric car models are expected to use Lithium-ion batteries that are more powerful and lighter than nickel-metal hydride batteries used in hybrids such as the Toyota Prius.



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