Global financial crisis adversely affected the world economies during 2008 and 2009. Lack of funds affected investments and resulted in decreased industrial output, higher unemployment rates, and consumer spending. The scenario eventually led to decline in the global battery market. Demand for batteries witnessed a noticeable drop in the consumer, industrial, and automotive end-use segments. During the period, battery manufacturers also experienced soft demand from OEMs as well as the aftermarket sectors. The bleak scenario forced manufacturers to implement various cost-saving strategies such as reduction in inventory levels, constriction in promotion expenditure, and by diversifying product offering. The market is likely to rebound in the immediate-term and demonstrate noticeable growth in the coming years driven by rapid growth in the electronics market, innovative product launches, and increasing role of rechargeable batteries in the automotive sector.
Asia-Pacific represents the largest as well as fastest growing regional market for rechargeable batteries worldwide, as stated by the new market research report on Rechargeable Batteries. Presence of a robust consumer electronics sector as well as other battery end-user sectors makes the region the prominent market for rechargeable batteries. The region also accounts for a large portion of world battery production led by China that represents the most preferred nation for leading manufacturers because of the sheer cost advantage offered by the country in terms of abundant and cheap labor force. Europe represents other major market for rechargeable batteries.
Lithium-Ion category constitutes the largest product segment of rechargeable batteries. Today, consumers are relying more and more on lithium-ion batteries as a viable option for next-generation portable electronics such as mobile handsets as well as plug-in and hybrid electric vehicles. The trend is expected to continue through the coming years. Lithium-Ion Polymer category represents the fastest growing segment, flaunting a compounded annual growth rate of more than 13.0% over the analysis period.
Rechargeable batteries represent one of the principal sources of power in everyday life. Today, rechargeable batteries are not used only in mobile phones and laptop PCs but also in power tools, industrial cranes and transit buses as well as in hybrid cars. 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. Burgeoning sales of digital cameras that need large battery power are also projected to spur the market. With the usage of advanced electronic devices set to reach new heights in coming years, the rechargeable battery market is forecast to experience a robust rise.
Another noteworthy trend in the rechargeable batteries market is the crucial role played by these batteries in the automotive sector. Various types of rechargeable batteries, especially the Lithium-ion batteries, are likely to expand significantly in the automotive sector driven by gaining prominence of plug-in hybrid electric vehicles (HEVs) due to environmental pressures and increasing oil concerns. Many regions across the globe including Japan, the US and Europe, are engaged in developing and deploying the novel vehicle technology. Numerous 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.
Major players profiled in the report include Battery Technology Inc., BYD Company Limited, Danionics A/S, Duracell International Inc., Energizer Holdings Inc., E-One Moli Energy Ltd., Eveready Industries India Ltd., FDK Corporation, GP Batteries International Limited, GS Yuasa Corp., Hitachi Maxell Ltd, LG Chem, Panasonic Corporation, Sanyo Electric Co. Ltd., SANYO Energy (U.S.A.) Corporation, Saft Groupe SA, Samsung SDI Co. Ltd., Sony Corp., Spectrum Brands Incorporated, TCL Hyperpower Batteries Inc., Uniross Batteries, Valence Technology Inc., and VARTA Consumer Batteries GmbH & CoKGaA.
The research report titled “Rechargeable Batteries: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the rechargeable batteries markets, impact of recession on the markets, current market trends, competitive scenario, key growth drivers, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants.
The report provides annual sales estimates and projections for rechargeable batteries for the years 2007 through 2015 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key battery chemistries analyzed include Nickel-Cadmium, Nickel-Metal Hydride, Lithium-Ion, and Lithium-Ion Polymer. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.