Electric Accumulators Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

Electric accumulators, commonly known as rechargeable batteries, are extensively used in various industrial sectors. They find applications in fields such as activated carbon, audio-visual equipments, and coating machines among many others. These accumulators include motor vehicle lead-acid, nickel-cadmium (NiCad) and the newly developed nickel-metal hydride (NiMH), and lithium ion polymer (LiPoly or LiPo) type batteries. The market for electric accumulators is concentrated in the European region followed by Asia Pacific. Regions such as North America and the rest of world exhibit an average growth. This industry is expected to grow at twice the rate compared to the past trend.

The changing global demography in terms of growing population and increased disposable income has expanded the scope of consumption. Technological advancements drive the industries to develop and employ products like electric accumulators which are easy to store and use. Also, rapid industrialization in developing countries has contributed to an increase in the demand for such convenient products.

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However, despite the feasibility and widespread use of electric accumulators, the market is restricted by environmental by-laws, lack of appropriate infrastructure, and chemical limits in various industries and countries. Regions like Europe and some parts of North America have stringent environmental laws against hazardous substances and specify chemical concentration limits which often create a problem in developing and disposing electric accumulators. Similarly, there is the constraint of proper infrastructure in progressive nations, which restricts the growth of the electric accumulator market.

Untapped opportunities exist in various sectors like heavy industries and paper and
plastic to name a few. The booming automobile sector also holds opportunities for the accumulators market. Various automobile industries have started utilizing the recently developed product types of electric accumulators. Parker Hannifin is acclaimed as the largest producer of electric accumulators. Among other major players, some names are - Nippon Accumulator Co. Ltd., Nakamura Koki Co. Ltd., and Tobul Accumulator Inc.

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