According to the latest market study released by Technavio, the global rechargeable battery market is predicted to reach close to USD 112 billion in revenue by 2020.

This research report titled ‘Global Rechargeable Battery Market 2015-2019’ provides an in-depth analysis of the market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

Request sample report: http://bit.ly/1nbdiJv

“In 2019, the lead-acid battery segment will continue dominate the global rechargeable battery market with close to a 53% share. During the same period, the growing implementation of solar ESS projects and surge in Li-ion battery demand from EVs, have led to an increase in the share of the Li-ion battery technology. Decreased cost of Li-ion batteries, longer replacement cycle, improved warranty periods, and higher output efficiency are some of the key factors that are predicted to drive the growth of Li-ion battery technology until 2020,” said Sayani Roy, lead energy storage research analyst for Technavio.

Technavio segments the global rechargeable battery market by application:

  • Lead-acid batteries
  • Li-ion batteries
  • NiMH batteries
  • NiCD batteries
  • Others

Largest contributor: lead-acid segment of the rechargeable battery market

The global lead-acid battery market is projected to grow steadily during the forecast period, driven by reasonably low-cost and high power surge capabilities. Owing to the growing telecommunication industry in Southeast Asia, APAC emerged as the leading revenue contributor for the global stationary lead-acid battery market in 2015. The characteristics of lead-based batteries are ideal for telecom-based applications. With the emergence of 4G and long-term evolution (LTE) telecom towers, many countries are increasingly investing in the telecom sector. As these technologies require continuous and reliable power supply, the resulting demand will drive the global stationary lead-acid battery market in the coming years.

Second largest contributor: Li-ion segment of the rechargeable battery market

The Li-ion battery market has grown significantly in the past ten years. In 1991, Sony was the first company to commercialize Li-ion batteries. Li-ion batteries have proven themselves as the ideal choice of power source in the consumer electronics market ever since. High energy density and low self-discharge and maintenance make Li-ion batteries more popular than other rechargeable batteries.

The application base of these batteries is widening and is expected to comprise medical devices, power tools, and ESS in the next four years. Many countries have set targets to increase the number of EVs to reduce dependence on fossil fuel reserves and meet carbon emission targets. The development of charging infrastructure and increased government incentives will fuel EV adoption during the forecast period. In addition, worldwide expansion of renewable energy and smart grids has stimulated adoption of storage battery systems to improve power supply stability, which has increased the demand for Li-ion batteries.

NiMH battery segment valued at close to USD 4 billion in 2014

NiMH batteries are low-cost batteries that are readily available and mainly used in portable devices. These batteries have high energy density and the components used are environmentally friendly. The modern NiMH batteries offer up to 40% higher energy density compared to NiCd batteries. However, the NiMH battery is less durable than the NiCd battery. In addition, the performance of NiMH batteries is affected due to its high self-discharge, which is considerably greater than that of the NiCd.

Despite these factors, the NiMH battery is replacing the NiCd battery in markets such as wireless communications and mobile computing. Consumers are also encouraged to use NiMH rather than NiCd batteries due to the growing concerns about the disposal of spent batteries.

Browse related reports:

  • Global Battery Energy Storage Market for Renewables 2015-2019
  • Global Stationary Lead Acid Battery Market 2015-2020
  • Global Lead Acid Battery Market for ESS 2015-2019

Purchase any three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact enquiry@technavio.com with your requirements and a link to our subscription platform.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.