Global battery market grew 5% per annum between 1990 and 2014

BRUSSELS (Scrap Monster): According to consulting firm Avicenne Energy, the global battery market has registered a growth of 5% per annum between 1990 and 2014. While addressing the 20^th International Congress for Battery Recycling (ICBR), held on September 23^rd to 25^th in Montreux, Switzerland, Christophe Pillot of the consulting firm noted that the global battery market was worth $60 billion in 2014.

Lead acid batteries and Li-ion batteries led the overall sales in 2014. Lead acid batteries reported a total sale of $35 billion during 2014, whereas Li-ion battery sales totaled $19 billion during the year. On the other hand, Nickel –Metal Hydride (NiMH) battery sales exceeded nearly $2 billion. Nickel Cadmium (NiCd) battery sales totaled around $1 billion.

According to rough estimates, the battery sales figures are expected to remain at almost the same levels in 2015. The consulting firm expects big jump in sale of Li-ion batteries during the current year. The YTD sales of Li-ion batteries have already exceeded previous year’s total sales. The sales of this battery type have already exceeded $24 million so far this year.

Automotive industry remained the major consumer of batteries during 2014. The total sales of start light batteries for vehicles and boats amounted to $20 billion. The sale of industrial batteries totaled $13 billion, whereas those of portable batteries totaled $11 billion.

The Conference also highlighted the need for exploring new technologies for recycling lithium from electric vehicles. The demand for lithium is expected to double in the forthcoming years, making it necessary to develop more robust recycling processes to recover the metal from huge volumes of materials arriving at scrap yards.