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Battery Industry

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Submitted By Shentis40
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Trend Analysis According to Battery University, the global battery market is about $50 billion U.S. of which %5.5 billion is allocated to secondary batteries. Global primary and secondary battery markets are expected to grow due to industrialization, gross domestic product (GDP), and economic growth. Because of the recent economic slowdown, many nations have set recovery plans in place, which would increase the demand for batteries across the global market. Because of China and India’s GDP rates, they have a greater opportunity to have higher growth rates within the battery industry. With the assurgency of digital cameras, phones, portable entertainment devices, computing devices, electronic automobiles, along with the consumer’s ability to buy, the demand for secondary batteries is expect to outperform the primary battery as the world moves forward towards rechargeable devices. Therefore, any new company looking to get into the battery monitoring industry have their work cut out for them. They must come up with new and innovative products/services that will keep up with the ever changing technology. For example, simply inventing a prototype similar to other products within the industry won’t cut it. The company entering the market has to make sure that whatever product that they have must enhance the other products in the market or be something completely different than what has already been seen. The automotive industry also shows potential for secondary batteries as the industry continues to rebound. According to The Report Linker, In China, the automobile sector is considerably growing and it is expected that China will generate a good demand for batteries in the near future. I believe that the automotive industry would be a great sector of the battery monitoring industry to enter because the primary focus is only on one subject. I believe that a new company could better develop their niche for a product for one particular industry versus developing a product to service many industries because perfecting a product or service that no other company could compete with keeps them relevant, and a cut above the rest. Presently, the U.S. and China are two major economies that have the highest market share in the global battery industry, and according to Lucintel’s report “Growth Opportunites in Global Battery Market 2011-201,” the market is expected to reach $86.76 billion (US) by 2016 with a CAGR of 7% over the next five years.

Bibliography
International Information Technology www.reportlinker.com www.researchandmarkets.com www.solarpowerworldonline.com www.batteryuniversity.com

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