Global Large and Advanced Battery Technology Market 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-21 17:26:04
The Global Large and Advance Battery Technology market to grow at a CAGR of 6.9 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in technological advancements. The Global Large and Advance Battery Technology market has also been witnessing the increasing investment in Smart Grid construction. However, the high price for electric vehicle batteries could pose a challenge to the growth of this market.
The governments of various countries have forecast that their nationwide energy demands will double within the next decade. As a result, various countries across the globe have started investing large amounts of money in smart grid technology in order to meet the huge demand for power by 2020. This increased investment in smart grid technology is leading the growth of the Global Large and Advanced Battery Technology market.
This is because of the increase in the scope of usage of various secondary rechargeable batteries in electric vehicles, which is one of the major sectors in the Smart Grid industry. As a result, part of the federal stimulus investment in various countries in smart grid technology is likely to be diverted toward the Global Large and Advanced Battery Technology market.
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