LONDON, Aug. 19, 2015 /PRNewswire/ -- Global demand for primary and secondary batteries is forecast to rise 7.7 percent per year to $120 billion in 2019. Rapidly expanding production of hybrid and electric vehicles (H/EVs), particularly in Western Europe and the US, will fuel purchases of high-cost batteries used to power such vehicles. In developing regions, improving levels of disposable income and consumer spending will support sales of high-drain electronics (e.g., cell phones, personal computers), boosting demand for both primary and secondary replacement batteries. A shift to better performing primary batteries (including alkaline and lithium types) as incomes rise is also expected to drive market advances in the developing world. In the industrial battery market, expanding investment in energy storage systems to provide backup power and/or frequency regulation will spur sales.
China, India to post strongest performance
China will remain the largest national market for batteries through 2019. Rising output from the country's massive manufacturing sector -- particularly in the motor vehicle and electrical and electronic product industries -- will support double-digit yearly advances in the local battery market. Investments to expand electrical generation capacity will bolster demand for batteries used in energy storage applications. India is also forecast to post double-digit annual gains in battery sales through 2019, driven by rising personal incomes that will increase the affordability of battery-consuming products such as consumer electronics and automobiles.
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