The global large-and-advanced battery market is expected to reach $30.9 billion by 2019
(PRWEB) June 17, 2015
Wellesley, Mass., June 17, 2015 – Improved microelectronic battery charger controller technology has allowed for smaller, higher energy density battery cells, an improvement which has commercialized portable products such as hybrid electric vehicles, laptop and tablet computers, smartphones and cordless hand tools. BCC Research reveals in its new report that as this synergy continues to develop, areas within the advanced battery industry will experience the explosive growth usually associated with emerging industries.
The global large-and-advanced battery market totaled nearly $23.7 billion in 2014, and is projected to approach $30.9 billion by 2019, reflecting a five-year compound annual growth rate (CAGR) of 5.5%. The largest segment, the hybrid electric vehicle (HEV) and plug-in electric vehicle (PHEV) battery application market, should total $14.5 billion in 2019, up from almost $10.3 billion in 2014. It is also the
fastest- growing segment, with a CAGR of 7.1%. Portable computer, tablet, smartphone, tools and portable military/aerospace batteries, the second-largest segment, reached $8.9 billion in 2014 and should reach nearly $10.9 billion by 2019, with a CAGR of 4.2%.
“Large and advanced battery” is an arbitrary designation developed by BCC Research to describe a market-driven battery classification. 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, as well as technologically advanced.
This definition excludes all primary (non-rechargeable) batteries and all lead-acid automotive batteries, as well as all A, C and D cylindrical batteries and button cells. Most non-automotive lead-acid batteries are included. Many portable product batteries are included, such as in computers, smartphones, tablets and portable tools.
Examples of higher energy density cells usage include plug-in vehicles, as well as utility-load leveling systems and wind-power energy storage. Higher energy density cells are attractive because they require fewer materials for a given energy capacity and can be produced at lower costs.
“Higher energy density enables vehicles with increased range and/or payload as well as a more environmentally friendly battery that uses fewer raw materials,” says BCC Research analyst Donald Saxman. ”They also contain proportionately lower amounts of flammable electrolytes, which substantially improve safety considerations.”
Large and Advanced Battery Technology and Markets (FCB024G) discusses first-generation, next-generation, specialty, and developmental systems, along with analyses of markets such as motive power, portable product power, stationary power and hybrid electric vehicles.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at [email protected]
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email [email protected]