Advanced battery technology under its expansive coverage consists of lithium-ion batteries, lithium-iron phosphate market. A lithium battery is by far the best battery in advanced battery market. Market drivers for growth of advanced battery technologies market include the benefits reaped by lithium-ion batteries in terms of energy efficacy and considerable cost-savings. Advanced batteries are one-upping on conventional batteries in powering electric vehicles owing to their longer shelf-life, compactness and energy efficacy, a potential market driver for growth of Advanced Battery Technologies Market.
Limitations in material design consideration do not reflect a robust picture and steps have to take to address these problems in order to cope up with energy specifications required in electric cars, consumer electronics, wearable and electric boats and aircrafts. Lead Acid and lithium-ion batteries will hold fort for the next ten years but advanced and post-lithium batteries will make a significant impact on the market once the underlying conditions are met. Segmentation by Large and advanced battery systems comprises lead acid batteries and Ni-Cd batteries.
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Segmentation by second-generation large and advanced battery systems comprises Ni-metal hydride batteries, Li-ion batteries and lithium polymer batteries. Segmentation by specialty large and advanced battery systems include silver-zinc secondary batteries, silver cadmium batteries, Nickel Hydrogen Secondary batteries, Ni-Zn batteries and metal air batteries. Developmental large and advanced battery technologies systems market include sodium sulfur batteries, high-temperature lithium batteries, redox and flow batteries, Nickel-Iron batteries, Calcium Metal sulphide batteries, sodium-chloride batteries and lithium sulfur batteries.
Future prospects with presence in the high-growth areas represent a potentially augmented market for the advanced battery technologies. New variants of advanced batteries have been ushered in the market including nickel-metal hydride and zinc-air prototypes. Microelectronic charger technology and battery charger control technology and clean room technology have brought into focus, a new breed of batteries belonging to lithium-ion and lithium polymer jeopardizing future prospects for Nickel-Cadmium (Ni-Cd) and portable lead acid batteries.
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Advanced batteries are a notch higher than traditional batteries with limited applications and a sea of opportunities exists for advanced battery technology market. With state-of-the art inventions such as lithium phosphate, sodium phosphate and sodium sulphur labeled as the new lithium-ion compositions, the current crop of lithium-ion designs are biting dust. Giant sodium sulfur batteries are being commissioned by electric utilities. 2008 and 2009 saw recessionary forces including lower gasoline prices that abruptly ceased the growth of nickel metal battery-powered Hybrid Electric vehicles (HEV’s) with Chrysler and GM throwing in the towel.
Key industry players include GS Yuasa Corp, Johnson Control Inc, LG Chem Ltd, Panasonic Corp, Samsung SDI Co Ltd and Sanyo Electric Co Ltd., ABSL power solutions Ltd and Advanced Battery Systems Inc., ALcad Ltd, all power battery Ltd, American Electric power, Antique Auto Battery, Anzode Inc, Apple Inc, Applied Power Inc, Arotech Corp, Hong Kong High Power Technology Ltd, Concorde Battery Corp, Covalent associates Inc, Magna International Inc and Atlantic Battery Co Ltd.
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/energy-storage
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