Monday December 9, 2013 0 commentsBOULDER - Worldwide sales of advanced batteries totaled $10.8 billion in 2012, a significant increase over the previous year, according to a new report by Navigant Research.
The report notes that the advanced battery market is in the midst of a massive expansion due to the growth of the consumer electronics segment and from new markets for batteries in electric vehicles and stationary energy storage systems.
"While traditional lead-acid batteries still reign in the automotive starter and uninterruptible power supply markets, each of the major new markets for batteries - automotive traction, stationary energy storage, consumer electronics, cordless power tools, medical systems and defense systems - favors advanced batteries, which offer superior performance in the areas of cycle life and energy density," said Sam Jaffe, Navigant's senior research analyst.
"The consumer electronics sector accounts for more than three-quarters of the market for advanced batteries, but Li-ion batteries for EVs are expected to grow strongly in coming years."
The report noted that the market for advanced battery manufacturing is highly diverse, with more than a dozen significant manufacturers but none holding more than 13 percent of market share.
An executive summary of the report, "Advanced Battery Tracker 4Q13," is available for free download at Navigant's website.