|By Business Wire||
|December 5, 2013 06:15 AM EST||
The advanced battery market is in the midst of a massive expansion, due to growth in the core consumer electronics segment, as well as the emergence of new markets for batteries in electric vehicles (EVs) and stationary energy storage systems. In particular, global manufacturing capacity for lithium ion (Li-ion) batteries has grown rapidly in recent years, as several governments have subsidized factories in Asia and North America to boost supplies for EVs. Click to tweet: According to a new tracker report from Navigant Research, worldwide sales of advanced batteries totaled $10.8 billion in 2012, a significant increase over 2011.
“While traditional lead-acid batteries still reign in the automotive starter and uninterruptible power supply markets, each of the major new markets for batteries – automotive traction, stationary energy storage, consumer electronics, cordless power tools, medical systems, and defense systems – favors advanced batteries, which offer superior performance in the areas of cycle life and energy density,” says Sam Jaffe, senior research analyst with Navigant Research. “The consumer electronics sector accounts for more than three-quarters of the market for advanced batteries, but Li-ion batteries for EVs are expected to grow strongly in coming years.”
The market for advanced battery manufacturing is highly diverse, with more than a dozen significant manufacturers, none of which holds more than a 13 percent market share, according to the report. The top two suppliers, Samsung SDI and LG Chem, are based in South Korea. Only one of the top manufacturers is headquartered in North America, and one in Europe, the report finds.
The report, “Advanced Battery Tracker 4Q13”, identifies developments and trends in the advanced battery market by tracking the shipments of batteries around the world for 2012. The Tracker focuses on new market activity and market share analysis for all major application segments that utilize advanced batteries, including automotive, consumer electronics, defense, medical, power tools, and stationary storage. Comprehensive documentation is provided for storage capacity (MWh), power capacity (MW), cells shipped, and revenue for advanced batteries across all global regions and across all technologies. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Advanced Battery Tracker 4Q13,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.