The high demand for rechargeable batteries will make the global market reach the projected $21.4bn by 2017.
The rechargeable batteries are necessary for power requirements in modern electronic equipments and automotive sector, and the demand is projected to witness rapid growth in the following years, especially for Lithium-ion batteries.
Great significance in this process has the increasing oil prices and environmental pressures , which will lead to expansion of plug-in hybrid electric vehicles as a sophisticated heavy-duty and light vehicle technology. Japan, Europe and the U.S. are already engaged in developing the electric vehicle technology, based especially on Lithium-ion batteries which are more powerful and lighter than nickel-metal hydride batteries used in hybrids such as the Toyota Prius.
Lithium-ion batteries represent the largest product segment of rechargeable batteries, being used not only in phones and laptops but also in power tools, industrial cranes and transit buses as well as in hybrid cars. Lithium-Ion Polymer category represents the fastest growing segment, with a compounded annual growth rate of more than 13.0% over the analysis period.
The new market research report on Rechargeable Batteries shows that Asia-Pacific represents the largest as well as fastest growing regional market for rechargeable batteries worldwide.