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Global battery control technology market: 7.5% CAGR growth expected between 2012-2016

Press Release   •   Aug 21, 2013 16:34 BST

The Global Battery Control Technology market is to grow at a CAGR of 7.52 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing application of battery control technology in various industries. The Global Battery Control Technology market has also been witnessing the use of battery control technology to increase the performance of battery systems. However, high cost of electric vehicles could pose a challenge to the growth of this market.

The increase in performance of battery systems, with the usage of battery control technology is one of the major trends observed in the market. For instance, the commercialization of micro-processor-controlled battery chargers had led to increased performance of battery systems. The various performances improved by the usage of battery control technology include increased battery cycle time and extension of battery life. This has a positive effect on various end-user segments such as Portable Electronic Products, Automotive, Traction, and Stationary Applications. Thus, the increase in performance of the battery systems is one of the major trends observed in the Global Battery Control Technology market.

One of the major drivers is the emergence of new battery control applications. The increased usage of battery control technology in various end-user segments such as Automotive, Traction, and Stationary Applications has led to the development of efficient battery systems in those segments. As a result, the increase in battery control technology applications will in turn increase the growth of the Global Battery Control Technology market in the future.

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