According to a recently updated report, the market for large and advanced batteries in the US is growing at an AAGR of 9% and is expected to reach $9.9 billion in 2008.
According to a recently updated report from Business Communications Company, large and advanced batteries in the US represented a $6.4 billion market in 2003. Growing at an AAGR (average annual growth rate) of 9%, this market is expected to reach $9.9 billion in 2008, making it one of the largest and fastest growing technology-driven electrical/electronic sectors.
Much of this growth will be due to hybrid electric vehicles/electric vehicles (HEV/EV) and portable computer sales and development. The HEV/EV battery market is expected to grow at an AAGR of 11.9% to reach $5.3 billion in 2008. Battery technologies dominating this market are lead-acid and nickel metal hydride (NiMH).
NiMH is expected to play a dominant role by 2008. Lithium-ion and lithium-polymer technologies are also expected to play an increasing role in this market by 2008, provided that cost can be reduced through volume production.
Portable computers have become one of the fastest growing segments within the computer market segment. Currently estimated at over $1 billion, the market for batteries for portable PCs is expected to grow at an AAGR of 5.5% to reach $1.3 billion by 2008.
BCC also notes the market potential of stationary applications. Although recent trends are showing slower growth (AAGR of 2%) for utility load levelling applications, growth is expected to come from “field” evaluation of improved or new technologies.
The overall market is expected to reach $595 million by 2008. Slightly higher growth rates are expected for UPS (uninterruptible power supply) and smaller remote stationary applications in view of protecting data from loss during power outages. The US UPS battery market is expected to grow from $530 million to $645 million by 2008.
The highest value large-and-advanced battery type is currently non-automotive (not including starting lighting ignition applications) lead-acid. Large-and-advanced lead-acid batteries in the US currently represent a $3.75 billion market, with traction and EV/HEV applications being the largest lead-acid battery market sectors. BCC predicts overall large-and-advanced lead-acid battery sales growing through 2008 to $4.6 million.
Meanwhile, the large-and-advanced lithium rechargeable (lithium-ion and lithium-polymer) battery segment will continue its rapid growth through 2008. Rising at an AAGR of 13.3%, this market is expected to cross $1.5 billion by 2008.