Press Release

Electric Vehicles Drives Advanced Battery Market Growth


May 31st, 2012

Global Information Inc. would like to present a new market research report, "Advanced Batteries Market to 2020 - Demand for Electric Vehicles to Drive Growth, Asia Pacific to Remain the Major Producer" by GBI Research.

Global Advanced Batteries Market to Show an Encouraging Growth in a Short Term

The growing consumer demand for safe, reliable and economical energy storage devices has led to growth in the market for advanced batteries which are rechargeable in nature. Secondary or rechargeable batteries held a share of approximately 76% of the total batteries market in 2011. These advanced batteries mainly include Li-ion batteries, Nickel Metal Hydride (NiMH) batteries, and Nickel Cadmium (NiCd) batteries. The Li-ion batteries are seeing a better response from the energy storage market compared to the other two nickel-based batteries due to their being the latest technology in the market, with higher energy density and better performance than previous technologies.

NiCd batteries are in the process of being phased out as they offer only half the capacity of NiMH batteries for the same weight or volume, and only one-fourth that of Li-ion batteries. The NiCd market is shrinking due to its poor price-performance ratio compared with other battery chemistries. The NiMH batteries are also slowly being replaced by the Li-ion batteries because NiMH batteries being a mature technology have very limited scope of innovation left and the Li-ion batteries are providing better performance.

The global advanced batteries market is expected to grow from $16.7 billion in 2011 to $56.2 billion in 2020 at a Cumulative Annual Growth Rate (CAGR) of 14.4%.

image1

Increasing Electric Vehicles Demand to be the Major Driver for Advanced Batteries Market Growth

Decreasing oil and gas reserves globally and increasing oil prices are forcing customers to move to sustainable, less polluting energy sources. One of the most significant shifts is the potential switch from petroleum based vehicles and transport to electric alternatives. Electric energy requires storage in different energy storage devices for running electric vehicles and this will fuel the demand for advanced batteries in the future. The current Electric Vehicles (EV) market mainly constitutes Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Electric Vehicles (PHEVs), along with all other electric vehicles.

According to a Deutche Bank report, it is expected that within 10 years, 70% of HEVs, and 100% of PHEVs and all-electric vehicles will run on lithium-ion batteries.

Asia-Pacific to Lose Its Market Share in Li-ion Batteries Market and Gain Market Share in Nickel-based Batteries

The Asia-Pacific region has historically been the market leader in the Li-ion batteries market, with China, Korea and Japan being the major producers. However, North Americas batteries market is expected to grow at a higher growth rate compared to Asia-Pacific over the forecast period, gaining around 29% of the global Li-ion batteries market share by 2020, compared to just 9% in 2011, though Asia-Pacific will remain the market leader with a share of 53%. Despite this growth, North America is expected to drastically lose its share in the Nickel-based batteries market to Asia-Pacific by 2020. The North America is expected to have only around 9% of the total global nickel-based batteries market in 2020, from around 34% in 2011. The growing consumption pattern for these batteries in the Asia-Pacific countries is the major reason behind this expected shift.


Global Information Inc.(GII) - specializing in market research provision for the vertical industries, GII offers expert independent recommendations of publications from hundreds of the globe's leading market research firms.

Product Code : 242969