According to a new technical market research report, Battery Control Technology: Global Markets (FCB026D) from BCC Research, the global market for battery control technology was valued at nearly $86 billion in 2011 and is expected to increase to $124 billion in 2016, a five-year compound annual growth rate (CAGR) of 7.7%. The battery control market can be broken down into three segments: battery chargers, smart batteries, and battery conditioners.
Battery chargers accounted for $48.2 billion in 2011 and the segment is expected to increase at a CAGR of 7.6% to reach nearly $69.6 billion in 2016.
The segment made up of smart batteries, worth $32.5 billion in 2011, should experience a CAGR of 8.5% to reach more than $49 billion in 2016.
The last segment, made up of battery conditioners, totaled $5.2 billion in 2011 and in 2016 should reach a value of $5.8 billion, a CAGR of 2.2%.
Rechargeable batteries are routinely used in portable product and stationary power applications, which include computers, cellular phones, and uninterruptible and emergency power supplies. More recently, rechargeable batteries have evolved from relatively low-performance industrial vehicles to electric vehicles that rival internal combustion vehicles in performance and exceed their efficiency. This revolution in battery power has been possible through a systems approach that includes advanced batteries, "smart" microcontroller battery chargers, and power conditioners. This affects the commercial and consumer electronics market, the transportation market, and the electrical power-generation market, among others.
This report is intended to provide a unique analysis of the global battery control market and will be of interest to manufacturers of battery chargers and battery charger components, as well as a variety of portable products, stationary power sources, and vehicle makers.
Ultimately, the market for batteries drives the market for battery control technology. Batteries are used to accumulate and transport electrical energy. These functions, power storage and power portability, make batteries essential to today's industrial and consumer-oriented society.