The battery industry is expanding rapidly, although revenue growth is modest

BOULDER, Colo.--The advanced battery industry saw continued growth in 2013, as demand for batteries as an alternative means to power vehicles, grid management equipment, and devices increased in multiple industries around the world. Click to tweet: According to a new tracker report from Navigant Research, shipments of advanced battery cells reached 6.7 billion in 2013 – a 10 percent increase over 2012 shipments.

"While the battery industry saw significant increases in the overall number of batteries shipped and the energy capacity they represent, revenue growth was modest because of declining prices," says Sam Jaffe, principal research analyst with Navigant Research. "The center of the advanced battery industry remains in China, where the majority of these batteries were manufactured and shipped around the world."

In terms of power capacity, the world consumed 40.1 gigawatts (GW) of batteries in 2013, the vast majority of which were used to power small devices. This number is significantly higher than the 28.6 GW of power capacity sold in 2012, according to the report. The primary reason for this growth is increased sales of automotive batteries, which have a much higher power-to-energy ratio when compared to other battery applications.

The report, "Advanced Battery Tracker 2Q14", identifies developments and trends in the advanced batteries market by tracking the shipments of batteries around the world for 2013. The Tracker focuses on new market activity and market share analysis for all major application segments that utilize advanced batteries, including automotive, stationary energy storage, consumer electronics, medical, defense, and power tools. Comprehensive documentation is provided for energy capacity (MWh), power capacity (MW), cells shipped, and revenue for advanced batteries across all global regions and across all technologies. An Executive Summary of the report is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.