Portland, OR -- (SBWIRE) -- 06/13/2017 -- Global battery technology market includes primary batteries used in electronic keys, watches, remote controls, toys etc. and secondary batteries used in automotives & aviation and portable & stationery batteries. The global advanced energy storage system market is expected to attain market revenue of $10.8 billion by 2018 at a CAGR of 10% between 2013 and 2018.
The battery technology market is a key constituent of the advanced energy storage system market; therefore, the market is expected to have a sustainable growth rate. It is estimated that there would be 40% increase in demand for electricity between 2010 and 2040. The ever increasing demand for electricity is one of the prime drivers for the market as power can be efficiently stored in the batteries.
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However, some legislation such as the EU Batteries Directive limits the use of some substances such as mercury, lead and cadmium as these substances are not environmentally friendly. This is a major restraint for the market growth as manufacturers have limited resources to explore and produce new and better batteries. Manufacturers are trying to overcome this challenge by engaging in research and development to use other substances for batteries.
Some of the companies profiled in this report are Hitachi Maxell Corp., Exide Corp., American Battery Charging Inc., Honda Inc., China Bak Battery, Inc., Sony Corp., Fujitsu Ltd, General Electric Co., Google Inc., and Honeywell Batteries.
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KEY MARKET SEGMENTS
BY CONTROL TECHNOLOGIES
-Smart Battery System
-Automotive battery control market
-Traction marine and aviation battery control market
-Portable product battery control market
-Stationary battery control market
-On-road electric vehicle battery control markets
BY BATTERY TYPES
-Lead acid battery
-Nickel cadmium battery
-Nickel metal battery
BY POWER SYSTEMS
-Fuel cell batteries
-Proton exchange membrane fuel cells
-Alkaline fuel cells
-Phosphoric acid fuel cells
-Solid oxide fuel cells
-Molten carbonate fuel cells
-Flywheel energy storage
-Energy saving technology providers