While the worldwide market for portable power products is expected to remain somewhat stagnant for the next couple of years, a rather healthy growth spurt could see the battery and fuel cell market rise nearly 50% in the year 2013.
This forecast comes from a study done byNextGen Research. The study, “Batteries and Fuel Cells: Portable Power for Portable Devices,”shows that the market for such portable power products will mirror the global economy: contracting in 2009 and seeing negligible growth in 2010, with more robust growth beginning in 2012. Overall, NextGen Research projects the global market for batteries and fuel cells for portable products will grow from $46 billion in 2009 to almost $64 billion in 2013.
“This is a staid, conservative market, where developments are evolutionary, not revolutionary,” explains Larry Fisher, Research Director of NextGen Research. “This does not bode well, because portable devices increasingly require more power, and battery designers and manufacturers do not have a near-term solution to ameliorate the problem. The latest generation of smartphones serves as a prefect illustration, with consumers complaining loudly about the shrinking battery life of these devices.”
Aside from the making the point that portable device technologies have outraced those of portable power, the study by NextGen showed that going green continues to be a hot trend for the portable power market. Mr. Fisher noted batteries also will be growing more eco-friendly in the coming years. “Environmental concerns are driving manufacturers to reduce or eliminate the use of cadmium, mercury, and other dangerous substances in their batteries. At the same time, the drive to recycle spent batteries is just beginning to take hold.”