In particular, new battery chemistries developed for industrial, automotive and military applications make the battery market dynamic and vibrant.
New analysis from Frost & Sullivan (batteries.frost.com), World Primary Lithium Battery Market, finds that the market earned revenues close to $1.10 billion in 2007. This is expected to reach $1.77 billion by 2014.
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"High energy density, wide operating temperature and efficient performance at rugged atmosphere influence the preference for primary lithium batteries," says Frost & Sullivan Industry Analyst Suba Arunkumar. "Increasing industrial automation and automation of the manufacturing sector further bolsters the need for primary lithium batteries."
The market, however, is highly competitive among the different primary lithium battery chemistries. Additionally, the threat from secondary lithium-ion batteries also influences the growth of certain primary lithium batteries used in select consumer applications.
Nonetheless, the market is in a growth stage for industrial, automotive and military applications, which will offer strong demand for primary lithium batteries in the next five to seven years. Other factors that support the battery market in general are the declining reliability of electricity transmission grids, the demand for dependable and rugged power sources to operate remote power, and the need for backup emergency power during the orderly shutdown of highly critical equipment.
"An area of concern with primary lithium batteries is the tendency to emit toxic gases and hazardous elements if electrolytes are leaked," notes Arunkumar. "These batteries cause environmental pollution when disposal is not taken care of properly and hence, manufacturing, utilization and disposal of these batteries involve many regulations to be complied, which can affect demand."
For now, the market forecast is positive with the world primary lithium battery sector expected to witness growth for the next four to five years after which alternative chemistries may be a serious threat to lithium batteries.
World Primary Lithium Battery Market is part of the Battery Growth Partnership Service program, which also includes research in the following markets: World Thermal Battery Market, World Secondary Lithium-ion Battery Market, World Micro Fuel Cell Market and others. All research services 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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