GBI Research:Global Energy Storage Market to 2020 – Targeting Transportation Sector Applications

Smartphone Love Affair to Help Double Global Advanced Battery Market Revenue by 2020
 
LONDON - April 5, 2013 - PRLog -- The global market for Lithium-ion (Li-ion), Nickel-Metal Hydride (NiMH) and Nickel-Cadmium (NiCd) batteries will expand by 119% by 2020, thanks largely to the irresistible growth of electronic portable devices such as smartphones and laptop computers, forecasts a new report from business intelligence providers GBI Research.

The firm’s latest report* anticipates this combined market will climb from a total market value of US$9.5 billion in 2012 to US$20.8 billion in 2020, increasing at a Compound Annual Growth Rate (CAGR) of 10.3%.

Consumer demand for compact but high-power devices has proven a major industry driver in recent years, and thanks to a rising mobile workforce, GBI Research expects the mobile IT and telecoms device markets to offer significant sales growth opportunities for advanced batteries in the future.

The market for Li-ion batteries, commonly used in portable electronics including Samsung’s best-selling Galaxy S3 and Amazon’s Kindle Fire, was nearly twice as valuable as the NiMH market in 2011, the report states, with this trend set to continue.

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According to GBI Research, li-ion batteries may also have a strong future in the automotive sector as the adoption of electric and hybrid cars steadily increases. The increasingly successful commercialisation of these vehicles, combined with the development of higher capacity and longer lasting batteries, is a promising market thanks to soaring fossil fuel prices and carbon emissions targets.

This report provides market potential for key energy storage technologies such as advanced batteries, fuel cells, pumped storage, flywheels and ultracapacitors

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GBI Research’s team of industry experts.

GBI Research is a market-leading provider of business intelligence reports, offering actionable data and forecasts based on the insights of key industry leaders to ensure you stay up-to-date with the latest emerging trends in your markets.

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