Global rechargeable battery market growth is positively influenced by factors like growing demand for lead-acid battery replacement from automotive industries across the world, which will drive the market at 8.2% CAGR during 2015 to 2019. Analysts say main difference between NiMH and Li-ion batteries is the material used for power storage. Li-ion batteries consist of carbon and highly reactive lithium, which can store a lot of energy than that of NiMH batteries. NiMh batteries utilize hydrogen for energy storage, In addition to nickel and another metal such as titanium keeping a lid on the hydrogen ions.
According to the Global Rechargeable Battery Market 2015-2019 report, the uncertain economic scenario in Japan over the last five years has compelled Li-ion manufacturing companies to shift their production base from Japan to China. The Japanese economy has been registering slow economic growth because of reduced investments and declining exports. Hence, increased number of Li-ion battery manufacturing bases in China will drive the market growth.
In this latest and global rechargeable battery market research report, analysts estimate the lead-acid battery segment to dominate over all other segments during the forecast period. This segment is envisaged to account for more than 53% of the total market share by 2019 and is influenced by factors like its cost effectiveness and increased power surge capabilities.
Upcoming trends like the growing influence of consumer electronics segment are rapidly gaining popularity as it helps to increase the demand for Li-ion batteries in the electronics segment. The augmented demand for various devices like mobile phones, laptops, notebooks, and cameras is expected to result in the increased demand for Li-ion batteries. Since these batteries have the best weight-to-energy ratio, they are highly compatible with consumer electronic goods. This increasing applicability of Li-ion batteries is expected to impel market growth during the forecast period.
The key vendors analyzed in rechargeable battery market are: BYD, C&D Technologies, East Penn Manufacturing, Enersys, Exide Technologies, GS Yuasa, LG Chem, Panasonic, Samsung SDI and VARTA Microbattery. Further, the rechargeable battery market report states that growing environmental concerns and increased awareness about the toxic content in NiCd batteries among end-users have led to a ban on NiCd batteries in Europe.