Friday, February 07, 2014: Batteries are indispensable power sources used in electronic devices. Driven by the need for reliable portable energy, battery manufacturers are focusing on developing newer and more powerful battery chemistries capable of yielding benefits such as optimum power performance, higher energy densities, and energy efficiency. Electronic device OEMs typically prefer lithium-ion batteries in the production of mobile phones, smartphones and tablets. Demand for batteries with high-energy density, long life, lightweight and eco-friendly features is driving growth in the Li-ion battery market. Emerging application for Li-ion batteries in the automotive industry is its use in Electric Vehicles (EVs), Hybrid Electric Vehicles (HEVs), and plug-in hybrid vehicles (PHEVs). Lithium-ion battery is set emerge as the battery chemistry of choice for xEVs in the coming years, taking over Ni-MH batteries that has been the preferred battery chemistry for HEVs. Li-ion batteries are emerging as an ideal replacement for Ni-MH batteries, given their longer life span and ability to store double the amount of energy for the same weight. Strong growth in electric vehicle production therefore augurs well for the Li-ion batteries market.
Market for Nickel metal hydride (NiMH) batteries is mature and provides limited scope for technology development. NiMH batteries are facing stiff competition from Li-ion battery technology, particularly in the automotive end-use sector. In the high-drain segment, Li-Ion and Li-Ion polymer batteries are replacing NiMH batteries due to their key performance characteristics such as lightweight, small size, moderate discharge rate and high storage capacity. Nevertheless, nickel-based chemistries, such as NiMH offer a price-efficient solution for several applications, given its performance characteristics and considerably lower price per kWh. Within the industrial segment, NiMH batteries are forecast to register considerable demand for powering appliances requiring rugged batteries, including railway applications, power back-up applications, and power tools.
As stated by the new market research report on Rechargeable Batteries, Lithium-ion polymer battery represents the fastest growing product market supported by expanding applications in notebook computers, and digital cameras. Asia-Pacific represents the largest and the fastest growing market worldwide. Growth in the region is led by India, China and South Korea.
Major players covered in the report include Battery Technology Inc., BYD Company Limited, Duracell International Inc., E-One Moli Energy (Canada) Ltd., Energizer Holdings Inc., Eveready Industries India Ltd., FDK Corporation, GP Batteries International Limited, GS Yuasa Corp., Highpower International Inc., Hitachi Maxell Ltd., Johnson Controls Inc., LG Chem Limited, Panasonic Corporation, Saft Groupe SA, Samsung SDI Co., Ltd. and Sony Corporation 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, drivers, 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 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.
