Lithium-Ion Battery Market to Boom
Source: Reuters (4/21/11)
"Rechargeable battery makers are betting on strong growth, from $11 billion last year to $32 billion in 2015."
Samsung SDI, which counts Apple and Samsung Electronics among its major battery clients, predicted the global lithium-ion battery market would swell to $32 billion in 2015 from $11 billion last year.
The estimate is more bullish than some analysts' predictions, reflecting prospects for the fast-growing electric car battery sector.
Samsung SDI also estimated electric vehicles would account for 7% of the global automobile market by 2015, rising to 17% by 2020.
Samsung SDI shares ended 4.8% higher after climbing as much as 5.8% to a fresh record high.
The company said earlier this month that it planned to spend $359 million on battery production this year in order to boost capacity.