Wednesday 17 April 2013, Amsterdam
The global market for Lithium-ion (Li-ion), Nickel-Metal Hydride (NiMH) and Nickel-Cadmium (NiCd) batteries will expand by 119% by 2020, thanks largely to the irresistible growth of electronic portable devices such as smartphones and laptop computers, forecasts a new report.
The firm’s latest report anticipates this combined market will climb from a total market value of US$9.5 billion in 2012 to US$20.8 billion in 2020, increasing at a Compound Annual Growth Rate (CAGR) of 10.3%.
Consumer demand for compact but high-power devices has proven a major industry driver in recent years, and thanks to a rising mobile workforce, we expect the mobile IT and telecoms device markets to offer significant sales growth opportunities for advanced batteries in the future.
The market for Li-ion batteries, commonly used in portable electronics including Samsung’s best-selling Galaxy S3 and Amazon’s Kindle Fire, was nearly twice as valuable as the NiMH market in 2011, the report states, with this trend set to continue.
According to the new report, li-ion batteries may also have a strong future in the automotive sector as the adoption of electric and hybrid cars steadily increases. The increasingly successful commercialisation of these vehicles, combined with the development of higher capacity and longer lasting batteries, is a promising market thanks to soaring fossil fuel prices and carbon emissions targets.
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