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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