Product category:
Engineering Industry Reports and Surveys
News Release from: The Freedonia Group
Edited by the Engineeringtalk Editorial
Team on 22 October 2004
Consumer electronics fuels world battery
growth
Global demand for primary and secondary batteries is forecast to increase 6.5% annually until 2008 to $65.1 billion.
Global demand for primary and secondary batteries is forecast to increase 6.5% annually until 2008 to $65.1 billion Above-average market gains will be recorded in China and other developing countries of Asia, Eastern Europe, Africa/Middle East and Latin America, stimulated by an acceleration in economic growth, ongoing industrialisation efforts and rising personal income levels
This article was originally published on Engineeringtalk on 28 Sep 2004 at 8.00am (UK)
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Battery demand in the USA, Western Europe and Japan is expected to strengthen as well, fuelled by generally favourable economic conditions and higher income levels, leading to increased sales and use of a wide variety of battery-powered products.
These and other trends are presented in "World batteries", a new study from The Freedonia Group.
Sales of secondary batteries will outpace demand for primary cells, and among secondary batteries, non-lead-acid types will outperform lead-acid batteries through 2008.
Growth in the use of energy-hungry electronic products like digital cameras and multifunction handheld devices will drive demand for lithium ion, lithium polymer and nickel-metal hydride batteries.
Demand for primary batteries will also climb at a faster pace than during the 1998-2003 period, with improved economic conditions and higher income levels contributing to an ongoing shift in the product mix from basic, lower-cost zinc-carbon and zinc-chloride batteries, to longer lasting, more expensive alkaline types in developing parts of the world Lead-acid batteries will continue to be the most popular chemistry in value terms, accounting for roughly one-third of all primary and secondary battery demand in 2008.
Suppliers will benefit from stronger growth in automotive output, increases in the number of motor vehicles in use, and higher product demand in applications such as backup power supplies and industrial motive power.
Consumer-related battery sales will outpace other market segments, spurred by strong increases in demand for products used to power high-drain portable electronic devices, particularly in more affluent developed countries.
Demand for batteries used in industrial and other applications will also be healthy, fuelled by a pickup in global fixed investment and manufacturing activity.
"World batteries" is available for $5400 from The Freedonia Group.
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