Online research website, Reportlinker.com has announced the findings of its latest report offering, which analyses the US market for primary and secondary batteries.
The study was conducted on the basis of the past demand for the years 2000, 2005 and 2010 keeping market influencing factors in mind. A total of 35 companies were taken into account in order to forecast market conditions for 2015 and 2020.
The report concluded that the overall US market for batteries will increase by 4.8% every year to reach $16.7 billion by 2015. Growing demand for replacement batteries and expensive, high quality batteries is expected to bring in the revenues. Owing to a rebound in the automotive industry including production of electrical and hybrid vehicles, the demand for batteries in vehicles and industries is also expected to rise in the future. However, revenues are likely to be affected due to a fall in the prices of batteries.
While the primary batteries market alone is expected to rise by 3.1% annually to reach $5.4 billion by 2015, the secondary batteries market is likely to increase by 5.7% yearly to $11.3 billion by 2015. Although alkaline batteries will account for 70% of the demand for primary batteries, primary lithium batteries will also increase in demand by 2015 as the growing population of people at 65 years of age and above will require primary lithium batteries for their hearing aids. Lithium-based rechargeable batteries are likely to lead the sales increase in the secondary battery market with lead acid batteries accounting for 62% demand. In spite of the projected increases the trade deficit in the US battery market is likely to increase by 2015 as foreign battery manufacturers have captured a strong position in the production and sales of various types of batteries.
Source: http://www.reportlinker.com/