Secondary Battery: How Can Investing in this Industry Be a Profitable Move for Your Business?

Highlights:

• Introduction
• Applications of lead-acid batteries
• Advantages of nickel metal hydride batteries
• Reasons behind rising popularity of lithium-ion batteries
• Innovations and advancements in secondary battery technology

Batteries play an extremely vital role in different sectors of the global economy. They are widely used in consumer electronics, manufacturing, construction, and logistics industries. Over the years, as dependence on batteries has increased, the preference for secondary batteries has grown. Secondary batteries, or rechargeable batteries, are batteries which can be charged, discharged, and recharged multiple times as opposed to primary batteries which need to be discarded upon discharge. Technological advancements in the global secondary battery industry have led to the development of different types of secondary batteries.  

Which sectors and industries employ lead-acid batteries?

The most commonly used secondary batteries of all, lead-acid batteries are primarily used for energy storage and backup power. Lead-acid batteries are extensively used in the automotive industry, mainly in ignition systems of vehicles. The motor vehicles segment of the secondary battery industry is expected to be the fastest growing segment with a CAGR of 10.1% by 2032. This growth in the motor vehicles segment is chiefly due to the widespread use of lead-acid batteries. Apart from the automotive industry, lead-acid batteries are also used in renewable energy systems, telecommunications, UPS systems, medical equipment, etc. The low cost and versatility of these batteries are their biggest strengths which have made them highly popular.

Why are Nickel Metal Hydride (NiMH) batteries so popular?

Nickel Metal Hydride (NiMH) batteries are an essential component of consumer electronic devices. They are used in high-drain applications such as digital cameras, smartphones, laptops, etc. This is due to their high energy density and low discharge properties which make them perfect for such applications. Also, as compared to lead-acid batteries, these batteries contain less amount of toxic materials which make them environmentally friendly batteries. In some cases, Nickel Metal Hydride (NiMH) batteries are also used for powering forklifts and similar transportation systems and industrial vehicles.

Why are lithium-ion batteries the future of secondary battery industry?

The rising environmental concerns regarding climate change and global warming has led to a growth in demand for cutting down the carbon emissions caused by industries and vehicles. In an effort to reduce vehicular emissions, various automobile companies have invested heavily in electric vehicles as they offer a sustainable mode of transportation. Hence, many experts consider electric vehicles technology as the future of urban mobility. Out of all the types of rechargeable batteries, lithium-ion batteries have become the leading choice for electric vehicle manufacturers. There are certain crucial advantages which set lithium-ion batteries apart from others.

Firstly, lithium-ion batteries last at least ten times longer than their traditional counterparts. Also, the maintenance required for lithium-ion batteries is much less. Moreover, when compared to lead acid batteries, lithium-ion batteries offer double the power for the same weight, thus making them energy-efficient and lightweight. Recharging lithium-ion batteries is a simple process and the time required is also less. Lithium-ion batteries have proven to be highly temperature tolerant compared to other batteries, meaning they work efficiently even in the harshest of conditions. Apart from these advantages, lithium-ion batteries are customizable and can be modified to suit the different needs of the equipment. All these factors have made lithium-ion batteries the front-runner in electric vehicle applications.

Advancements in secondary battery technology

Technical studies and R&D activities by several leading engineering institutions and research centers have led to the development of certain rechargeable battery technologies which are sure to rule the roost in the near future. One such example is the development of lithium-sulfur batteries. Studies have shown that lithium-sulfur batteries have at least four times the energy density of lithium-ion batteries which makes them perfect for space exploration and aviation industry.

Development of solid-state batteries is also a major breakthrough as far as rechargeable battery technology is concerned. Solid-state batteries have proven to be extremely safe and are much lighter in weight as compared to other batteries. Also, the shelf-life of solid-state batteries is higher than traditional cells which is why they are being increasingly considered for electric vehicle applications.

In the last few years, different materials have been tested for their applicability in secondary battery technology. Sodium-ion batteries have shown positive results and are in the preliminary stage of testing in electric vehicles. Some experts have also suggested the use of silicon instead of graphite in lithium-ion batteries which will make them safer and more efficient. Magnesium and hemp are two other materials which are also being used to develop advanced versions of rechargeable battery solutions.

To sum it up, different types of secondary batteries have been developed over the years. These types, including lead-acid, nickel metal hydride, lithium-ion, etc., have become extremely popular in various industries owing to their crucial advantages. At the same time, R&D activities by major companies and engineering schools have led to the development of advanced battery technologies.

To have deeper understanding of the different aspects of the secondary battery industry, talk to our experts today!

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