Analyzing the Battery Market in US
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Batteries are everyday necessities, powering everything from escalators to cars to remote controls. The vast extent of their applications and stronger demand from downstream industries will support industry growth in the US over the next five years. Though the price volatility of key inputs such as zinc and lead will keep battery makers on edge, the growing popularity of hybrid and electric vehicles will give them new avenues for growth.
Demand for batteries in the US market is expected to grow substantially in the next five years. The United States is the single biggest market in the world for batteries with a market size of $5 billion annually. The US industrial market is estimated to be $600 million annually, of which the lead-acid battery segment constitutes nearly 92%.
This industry manufactures two types of batteries: storage and primary batteries. Storage batteries are also known as secondary or rechargeable batteries. Primary batteries are non-rechargeable batteries that only have one life. Industry products have a variety of uses in cell phones, medical equipment, households and the automotive and transport sector. Proximity to downstream markets is an important competitive strategy in this industry.
Companies often benefit from cluster formations as this facilitates access to new technological innovations. Because of the wide variety of downstream markets and the relatively small number of companies involved in this industry, the dispersion of establishments does not follow a clear trend. Technical advances in existing primary battery chemistries and the development of new chemistries have allowed primary batteries to become a viable power source for high-drain electronic devices such as digital cameras.
Energizer Holdings Inc., Exide Technologies and Johnson Controls Inc. are some of the major players in the market. Consumer electronics industry has and will continue to remain a lucrative end-user of rechargeable batteries. Modern telecommunication devices such as mobile phones are being increasingly equipped with advanced features such as multi-media messaging and TV viewing that utilizes a sizable part of battery power within a short duration, requiring recharging. With the usage of modern electronic devices set to reach new heights in coming years, the rechargeable battery market is forecast to witness stable growth.
Another potential laden application area is the automotive industry. The role of rechargeable batteries in the automotive sector is projected to witness rapid growth in the coming years.
Another important trend impacting the battery market is the utilization of microprocessor technology to improve a battery's performance and prolong its life. Smart batteries generally comprise those outfitted with an embedded microchip that allows communication and interaction between the battery, the host device and the charger. Benefits of smart battery technology include prolonging runtime by managing and monitoring power output and use, and increasing recharging speed.
Aruvians Rsearch analyzes the Batteries market in the US in its research offering Analyzing the Battery Market in US. The report is a complete analysis of the industry through the leading segments of both primary and secondary batteries. In primary batteries, we analyze the market for alkaline batteries and other primary batteries. Under the secondary battery market, we analyze the market for lead-acid batteries, rechargeable lithium batteries, and other secondary batteries.
The report analyzes the US market for batteries though an industry overview, an analysis of the market demand, as well as an analysis of the market by different types of batteries.
Industry trends across different types of segments are analyzed, followed by an analysis of the industry structure. Import/export of batteries is also looked at.
The industry's future perspective is looked at through a segment-wise market forecast as well as an industry outlook.
An analysis of the major market players such as Exide Technologies, Johnson Controls, and others is carried out through a corporate profile, business segment analysis, financial analysis, industry presence, and a SWOT analysis, completing this comprehensive analysis of the Battery Industry in the US.