Technological development, the increase in disposable income of customers, the development of new applications for batteries, and the decrease in the price of raw materials further aided the battery market. Lucintel, a leading global management consulting and market research firm, has analyzed the global battery market to develop a comprehensive research report entitled “Growth Opportunities in the Global Battery Market 2011-2016: Trends, Forecast and Market Share Analysis”.
As per the study, Li-ion batteries are expected to witness double digit growth rate, in terms of units produced, while alkaline battery will show minimum growth over the next five years. The use of Alkaline will be replaced by Ni-MH and Li-ion in consumer durables, while lead acid will still be used as SLI in automobiles. The use of Li-ion and Ni-MH will increase in automobiles and Electrical Vehicles.
In the case of other applications, Li-ion will have strong penetration in medical and defense applications, while lead acid and Ni-MH will continue to be the preferred and source of renewable (rechargeable) energy storage. Lucintel’s analysis finds that Asia Pacific (APAC) and North America (NA) will witness a rise in battery volumes, with APAC grow rate outpacing that of NA. Europe and the Rest of the World (ROW) will grow at a lower rate, with ROW remaining lowest in terms of value. APAC is expected to witness the majority of its growth as a result of increases in production rates of automobiles and consumer electronics.
This Lucintel research report provides insights regarding growth opportunities in the battery market, its various segments, its background and characteristics. The report provides a detailed manufacturing process analysis, a review of regulatory framework and a discussion of environmental concerns. The industry’s leading manufacturers are highlighted and their relative market share is discussed. The report also provides the reader with Lucintel’s forecast for the market, supported by an analysis of the industry’s trends, key drivers and challenges.