Battery Technology Market Research Reports, Analysis & Trends
Battery technology industry is a part of the battery industry which comprise companies that manufacture batteries of different types, functionality and size. Basically, a battery, also known as a galvanic cell, is an energy storage device, where electrical energy is trapped within the battery in chemical form by forcing positively charged ions to inhabit only one of two electrodes within the battery which is the cathode, and negative ions to inhabit the other electrode which is the anode. So, when the battery is connected to an electrical circuit, the positive ions pass through the battery to the other electrode, while electrons are forced to flow through the electrical circuit in the opposite direction and provide the electricity needed to run our electrical devices. Batteries are simply a controlled chemical reaction that is designed to provide electrons on the anode electrode to power an electrical circuit.
The Global Battery Control Technology industry market is expected to grow at a CAGR of 7.52% between 2012 and 2016 and the main key drivers for this growth includes the increasing application of battery control technology in various industries and the increased performance of battery systems. But, according to few industry analysts' skepticism, the high cost of electric vehicles could pose a big challenge to the growth of this market. Another driver for this growth is the emergence of new battery control applications, such as the battery control technology in various end-user segments such as Automotive, Traction, and Stationary Applications that has led to the development of efficient battery systems, therefore, the increase in battery technology is expected to see a huge amount of generation of revenue in the near future.
Current Trends in Battery Technology Market
The global battery demand is continuously growing in automated gadgets and portable electronic devices and the newer and more advanced systems keep getting introduced in the market. According to Global Industry Analysts, the demand for batteries is projected grow over coming years as private consumers and businesses need batteries to power the various devices necessary for day-to-day living. The battery technology, however, is an increasingly innovative and phenomenal industry to be in as the global battery control technology market was considered mature by the late 90s, and other factors such as advancements in microelectronic battery charger controller technology lead to the rise of new battery categories and eventually boosted the commercialization of existing battery systems. Battery control technology is, therefore, a sector with vast growth potential, especially linked to emerging industries, the markets being the recently computerized system and utilization of computers networks, as most devices are portable and run on battery energy.
According to Global Industry Analysts, the world rechargeable batteries market is expected to reach the value of over $21.5 billion by the end of 2017. Here, the market growth is going to be fueled by growing power needs linked with the growing reliance on electronic portable equipment. Electronic devices such as smartphones, mobile computing devices and digital cameras are constantly increasing the demand for rechargeable batteries. In addition the Global Industry Analysts estimates that the global consumer batteries market will be worth close to $55.5 billion by the end of 2017.
Major Battery Technology Industry Players
Major players in battery technology include Duracell, Ever Ready, Nippo, Columbia ParCar Corp., ChargePoint Inc., Compal Electronics Inc., Curtis Instruments Inc., Cypress Semiconductor Corp., Daimler AG, D&B Power Associates Inc., Dell Inc, Ford Motor Co., GE Energy LLC, General Motors Corp., Honda Motor Co. Ltd., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., SANYO Electric Co. Ltd., Sony Electronics Inc., and Toyota Motor Corp.