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Palo Alto, CA, United States, 2007/12/17 - New analysis from Frost & Sullivan, World Secondary Lithium Ion Battery Market, finds that the market earned revenues of $5.89 billion, and unit shipments of secondary lithium-ion batteries were pegged at nearly 1.76 billion. This estimates to reach nearl.
On a global level, the secondary lithium-ion battery market is set to achieve significant growth from features of lithium-ion batteries, which are superior in comparison to existing battery chemistry. Currently, the battery market experiences increased investments in technological developments and innovations that are likely to make these batteries more efficient.
New analysis from Frost & Sullivan (powersupplies.frost.com), World Secondary Lithium Ion Battery Market, finds that the market earned revenues of $5.89 billion, and unit shipments of secondary lithium-ion batteries were pegged at nearly 1.76 billion. This estimates to reach nearly 3.99 billion units in 2013.
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"Technical innovations such as thin-film batteries and high energy density lithium-ion batteries create bright growth prospects for lithium-ion batteries," notes Frost & Sullivan Research Analyst Suba Swaminathan. "High energy and power density, along with low weight of these batteries, are some of the key factors that propel market demand."
In addition, the increased use of sophisticated multi-tasking consumer electronic gadgets in recent years fuels the need for high-power batteries that are also low in weight. This is set to bolster growth in the secondary lithium-ion battery market.
Meanwhile, the surge in demand for high efficiency power source for portable industrial applications augments the need for lithium-ion batteries. The performance of these batteries in consumer applications creates significant awareness of the features of lithium-ion batteries and is likely to find greater utilization in industrial applications. The market is in the maturity stage with regard to consumer applications, with pronounced growth expected in the industrial and automotive applications in the next five to seven years.
Despite these positive trends, existing safety concerns related to the utilization of lithium-ion batteries in high temperatures are likely to dampen growth in the market. "Lithium-ion batteries have an inherent ability to become unstable at temperatures above 130 degrees Celsius," explains Swaminathan. "When these batteries reach such high temperatures, they can cause an explosion and result in severe damage to the application device and the user."
In view of this situation and the consequent increased focus on research activities, lithium-ion batteries that can withstand high temperatures without causing thermal runaway expect to hit the market in the next two to three years.
World Secondary Lithium Ion Battery Market is part of the Power Supplies and Batteries Growth Partnership Service, which also includes research on the world consumer secondary lithium battery market, world ultracapacitor market, world industrial secondary battery market as well as the world micro fuel cell market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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