Navigant Research: Advanced Batteries Sales Reach $10.8 Billion in Market Value in 2012 [Health & Beauty Close - Up]
(Health & Beauty Close - Up Via Acquire Media NewsEdge) The advanced battery market is in the midst of a massive expansion, due to growth in the core consumer electronics segment, as well as the emergence of new markets for batteries in electric vehicles (EVs) and stationary energy storage systems.
In particular, global manufacturing capacity for lithium ion (Li- ion) batteries has grown rapidly in recent years, as several governments have subsidized factories in Asia and North America to boost supplies for EVs. According to a new tracker report from Navigant Research, worldwide sales of advanced batteries totaled $10.8 billion in 2012, a significant increase over 2011.
"While traditional lead-acid batteries still reign in the automotive starter and uninterruptible power supply markets, each of the major new markets for batteries - automotive traction, stationary energy storage, consumer electronics, cordless power tools, medical systems, and defense systems - favors advanced batteries, which offer superior performance in the areas of cycle life and energy density," said Sam Jaffe, senior research analyst with Navigant Research. "The consumer electronics sector accounts for more than three-quarters of the market for advanced batteries, but Li-ion batteries for EVs are expected to grow strongly in coming years."
The market for advanced battery manufacturing is highly diverse, with more than a dozen significant manufacturers, none of which holds more than a 13 percent market share, according to the report. The top two suppliers, Samsung SDI and LG Chem, are based in South Korea. Only one of the top manufacturers is headquartered in North America, and one in Europe, the report finds.
The report, "Advanced Battery Tracker 4Q13", identifies developments and trends in the advanced battery market by tracking the shipments of batteries around the world for 2012. The Tracker focuses on new market activity and market share analysis for all major application segments that utilize advanced batteries, including automotive, consumer electronics, defense, medical, power tools, and stationary storage. Comprehensive documentation is provided for storage capacity (MWh), power capacity (MW), cells shipped, and revenue for advanced batteries across all global regions and across all technologies. An Executive Summary of the report is available for free download on the Navigant Research website.
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for changing and often highly regulated industries.
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