Future of Global Advanced Batteries Market Outlook to 2020: Opportunity Analysis in Electronics and Transportation
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The Lithium-ion (Li-ion) battery market for hybrid electric vehicles (HEVs) is a rapidly emerging market with massive potential. The rapid growth of electric vehicles will offer growth opportunities for Li-ion batteries in the future. Although Li-ion batteries for hybrid electric vehicle are still in an emerging phase, they are most likely to displace Nickel-metal Hydride (Ni-MH) share in the future due to their growing prominence. Currently, Ni-MH batteries dominate the HEV battery market with a 97% revenue share, however, Ni-MH battery technology has reached its maturity and the pace of technological innovation in the market is much slower than that of Li-ion battery technology. Li-ion battery technology, on the other hand, offers better overall performance characteristics, high specific energy density, long cycle life, no memory effect and is compact in physical dimensions and lightweight compared to Ni-MH battery chemistry.
GBI Research estimates that the HEV market will grow rapidly in the future contributing 10% of the new vehicle sales in 2020. The Li-ion battery technology is expected to take over 60% share of HEV battery market by 2020.
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The Ni-MH battery is taking over Nickel Cadmium (Ni-Cd) battery in toys, cordless phones, and household devices segments, while Li-ion battery in power tools. Ni-Cd offers only half capacity than Ni-MH for the same weight or volume and one-fourth of Li-ion batteries. The Ni-Cd market is shrinking due to it poor price-performance ratio compared with other battery chemistries. In 2009, sales of Ni-Cd rechargeable batteries decreased by 43% in the electronics segment, continuing the downward trend. Furthermore, the production of Ni-Cd Batteries is declining as a result of stringent legislations restricting the use of cadmium in many countries. The Environment Directorate of the European Commission, along with certain Nordic countries, has taken to restrict the use of cadmium-containing products.
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Advanced battery manufacturing is dominated by a few key countries, Japan, China and South Korea together produced 98% of the advanced batteries in 2009. China has become one of the largest battery production bases in the world. The Japanese and companies in the west are entering into Joint Ventures (JV) and partnerships with Chinese battery manufacturers. Chinese companies maintain a cost advantage over their competitors through the employment of a labor intensive production process rather by using automated production lines to manufacture batteries. The success of Chinese companies in the advanced battery business has been due to their unique business model — replacing a conventionally capital intensive business model with a labor intensive one.
GBI Research, the leading business intelligence provider, has released its latest research, “Future of Global Advanced Batteries Market Outlook to 2020: Opportunity Analysis in Electronics and Transportation” that provides key data, information and analysis on the market opportunities in the advanced batteries market. The report provides a detailed assessment of sales growth opportunities arising from PHEV market. At the outset, the report analyses the attractiveness of HEV battery market. The report’s coverage of the advanced batteries market is comprehensive with dedicated sections on regulatory framework, and key supplier profiles.
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