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Report Highlights
- Overall sales in the lithium battery market were worth $9 billion in 2008, and decreased to $8.6 billion in 2009. By 2014, sales are projected to increase to $9.9 billion, for a 5-year compound annual growth rate (CAGR) of 2.8%.
- The largest segment in the market, the secondary, was valued at $7.9 billion in 2008. This is expected to decrease to $7.5 billion in 2009, and is projected to reach more than $8.6 billion in 2014, for a 5-year CAGR of 2.9%.
- Sales in the primary lithium battery segment were worth $1.1 billion in 2008, and were to remain flat in 2009. By 2014, they are projected to increase to $1.3 billion, for a 5-year CAGR of 2.7%.
INTRODUCTION
STUDY GOALS AND OBJECTIVES
Originally, the term “battery” referred to a number of individual electrochemical cells; therefore, a single cell, like the familiar cylindrical flashlight power source, was not considered a battery at all. Now, a battery refers to any electrochemical storage mechanism.
- First, several of lithium batteries’ largest and highest growth markets entered a period of retraction. Even as “must–have” portable products, like iPhones, grew in popularity, battery–powered laptop and cell phone sales fell.
- This was due to global recessionary forces, including unemployment, difficulty obtaining consumer credit, and lower commercial demand. At the same time, gasoline prices peaked and fell from a high of more than $4 per gallon to less than $2 per gallon. Combined with the recession, this resulted in deeply lower demand for fuel–efficient vehicles, especially hybrid electric vehicles (HEVs). There were major concerns about the future of developmental plug–in EVs. Two leading would–be plug–in sources (GM and Chrysler) filed for bankruptcy.
- On the other hand, government intervention more than offset some of these issues, especially for the early–stage U.S. lithium battery industry. First, the newly elected administration of President Barack Obama announced plans to fund billions of dollars in U.S. lithium battery development. Next, the administration canceled billions of dollars’ worth of funding for Bush–era fuel–cell– and hydrogen–power–vehicle development funding. This has not yet affected non–U.S. fuel–cell–vehicle development and, indeed, several U.S. manufacturers of fuel cell vehicles have vowed to continue. However, it certainly helped reduce the impact of one of the lithium–battery–powered vehicle’s greatest competitors. The Obama administration also implemented new CAFE fuel–efficiency standards that will provide a significant incentive for wider HEV and EV use. Finally, the U.S is working toward an industrial policy to help reduce the effects of global warming.
- Meanwhile, the Bolivian government is negotiating with several companies from several nations with the aim of developing the vast Bolivian lithium salt deposits. If this results in working mines, any anticipated global demand would be satisfied. Meanwhile, other lithium resources are preparing to come on line. The possibility that widely commercialized lithium EV batteries would create a lithium battery shortage now seems unlikely.
- Since most lithium batteries are currently manufactured in Japan or China, many leading lithium battery companies are concentrated in the Far East. Lithium battery material companies include South American, U.S., and Canadian companies. Most lithium salts currently come from Chile, but Bolivia has vast reserves that could soon be developed. Lithium battery research and development takes place worldwide, but especially in the Far East, the United States, Europe (especially France), and Canada. In 2008 and 2009, there has been an aggressive move toward the wide commercialization of large–vehicle–size, lithium–ion cells. Even without government incentives, U.S. companies were preparing to manufacture and/or assemble large numbers of lithium batteries. Now, U.S. companies are proposing lithium battery projects worth billions of dollars. At the same time, there are more and more multinational lithium battery partnerships, including partnerships between U.S. and European or Far Eastern companies.r Doing the Study (Continued)
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Report Highlights
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The U.S. lithium battery material market was worth more than $3.4 billion in 2000 and grew to over than $5.6 billion in 2006. To put this in perspective, BCC estimates that the entire U.S. battery market was worth nearly $33 billion in 2006 (much of this for lead-acid automotive batteries).
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Nonrechargeable (primary) lithium batteries were worth $975 million in 2006 and the world market should grow to a projected $1.2 billion (constant 2006 dollars) in 2012, a compound annual growth rate (CAGR) of 3.7%.
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The rechargeable secondary lithium battery market was approximately $4.6 billion in 2006 but should grow to more than $6.3 billion by 2012, (CAGR) of 5.6%.
Report Highlights
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The U.S. lithium battery material market grew to more than $2 billion in 2003. Rising at an average annual growth rate (AAGR) of 4.7%, this market will reach $2.7 billion in 2009.
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Put into perspective, the entire U.S. battery market will be worth more than $13 billion in 2004 (much of this for lead-acid automotive batteries).
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Nonrechargeable (primary) lithium batteries were worth $312 million in 2002 and the U.S. market should grow to a predicted $522 million in 2009, at an AAGR of 5.7%.
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The rechargeable secondary lithium battery market was approximately $1,410 million in 2002 but should grow to more than $2.1 billion by 2009.
Report Highlights
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The U.S. lithium battery market is estimated at $1.9 billion in 2001.
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Growing at an average annual rate (AAGR) of 9%, the market is expected to reach nearly $3 billion in 2006.
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Secondary batteries dominate the market. Sales are estimated at $1.6 billion in 2001, and are likely to rise at an AAGR of 10.1% to $2.6 billion in 2006.
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Primary batteries make up a small portion of sales—$0.3 billion in 2001—and are expected to grow at an AAGR of only 2.5% to $0.4 billion in 2006.
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Growth for the market as a whole through 2011 is expected to average 10.3% per year, with secondary batteries, at an AAGR of 11.4%, to lead the way once again.
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