London, 21 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Emerging Battery Technologies Market 2014-2018, which is expected to grow at a CAGR of 57.6 percent during the period 2013–2018.
With the increase in demand for energy and energy storage devices globally, the importance of batteries has increased exponentially in recent times. Batteries are used for energy storage and are used in various applications, including mobile phones, laptops, cameras, power tools, and electric vehicles. Much research has been done in recent years to increase the expected battery life and to develop new battery technologies that can effectively power a wider variety of applications.
“Countries such as Japan and Korea recognize that the advancement in battery technology is a key component of their competitiveness and provide massive support to the Advanced Batteries industry,” says Faisal Ghaus, Vice President of TechNavio.
“Government support is essential to accelerate the development of this sector, which would otherwise occur more gradually if it was left completely up to market forces. This support is further accelerating the manufacturing and deployment of electric vehicles by providing loans for the retooling of facilities to produce advanced technology vehicles, and it has provided funding for loan guarantees for advanced energy technologies.”
Key Market Drivers
- Increase in Demand for Consumer Electronics and Portable Devices
- Growing Energy Consumption
- Need for Efficient Energy Storage Systems
Key Market Trends
- Government Support
- Increasing Competition among Existing Players
- Growing Demand for Electric Vehicles Including HEVs and PHEVs
Key Market Vendors
- Ambri
- Aquion Energy
- Boulder Ionics
- EnerVault Corp.
- PolyPlus
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
