Large and Advanced Battery Technology And Market To Be Worth $11 BILLION In 2014
The global market for large and advanced battery technology was worth an estimated $8.2 billion in 2009, but is expected to increase to nearly $11 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 6%.
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Global Large and Advanced Battery Market Projections by Application, 2001-2014
-- According to a new technical market research report, LARGE AND ADVANCED BATTERY TECHNOLOGY AND MARKETS (FCB024E) from BCC Research (www.bccresearch.com), the global market for large and advanced battery technology was worth an estimated $8.2 billion in 2009, but is expected to increase to nearly $11 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 6%.
The largest segment of the market, advanced portable products, which includes uses for laptop computers, portable hand tools and lawn care batteries, and a wide variety of non-munitions portable military products, is expected to reach $3.7 billion in 2014, after increasing at a CAGR of 4% from the estimated 2009 value of nearly $3.1 billion.
The advanced stationary segment was the second-largest in 2009, and is expected to increase from a value of $2.4 billion in 2009 to more than $3.1 billion in 2014, for a CAGR of 5%.
The third-largest segment in 2009, motive applications, is projected to increase at a CAGR of only 1% through 2014, rising from $1.27 billion to $1.33 billion.
The hybrid electric vehicle and plug-in segment, though relatively small, is expected to increase at the highest CAGR, 15%, from 2009 to 2014, doubling from $1.3 billion to more than $2.6 billion.
The developmental segment will increase at a CAGR of 8.5%, from $113 million in 2009 to $170 million in 2014.
As defined in this report, large and advanced batteries must have three attributes: They must be secondary (rechargeable) electrochemical energy storage devices (batteries), "large" in terms of size and energy capacity, and technologically advanced.
Several entirely new classes of advanced batteries have been commercialized during the last 25 years, including nickel-metal hydride and zinc-air designs. Meanwhile, improved microelectronic battery charger controller technology and clean room manufacturing techniques have allowed the commercialization of entirely new classes of batteries (lithium-ion and lithium-polymer).
This report can provide valuable information in terms of assessing investment in particular technologies and, therefore, should benefit investors directly or indirectly. Battery suppliers also may find market trends of interest in view of establishing growth strategies.
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