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Global Fuel Cells, Market Size and Growth
The growing consumer demand for a reliable energy storage option has resulted in a series of inventions in the advanced battery markets. In recent years, significant progress has been made in increasing the expected battery life and in developing battery technologies that are capable of effectively powering various battery electric vehicles, plug-in hybrid electric vehicles and others. The most popular advanced battery technologies like lithium-ion and nickel metal hydride batteries have been growing at a significant rate in the past few years. They have grown at an average growth rate of 3.1% in the last five years. Other advanced batteries with new technologies like Zinc-air and vanadium redox batteries that possess high power capacities and light weight are expected to show an increasing demand pattern in the future.

The application based advanced batteries market has generated considerable revenue in the year 2008. The costs of advanced batteries mainly vary with their applications in the market. The current cost of lithium-ion automotive batteries made with early pilot equipment is approximately $2,000/kWh.

In recent years, advanced batteries have brought in a huge change in the global battery markets. Several entirely new classes of advanced batteries have been developed and commercialized in the last few years. These include Nickel Metal Hydride (NiMH) batteries, Lithium-ion (Li-ion) batteries, Zinc-air (Zn-air) batteries, Zinc Bromine (Zn-Br) batteries and Vanadium Redox Batteries (VRB).

This continuous improvement has given rise to a host of areas where the advanced battery industry could experience an enormous growth associated with various emerging industries.
This latest Fuel Cells market data and analysis was taken from the research report "Global Advanced Batteries Market Analysis and Forecasts to 2015published by Global Markets Direct - for more information on this report, Click Here

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