Battery Technologies Market To Grow Six-Fold

Research suggests that the emerging battery technologies used in the backup and UPS markets are set to increase 600% by the year 2020. Currently at $143 million, the market is expected to grow to about $896 million by the target date.

The report, provided by Lux Research, states that li-ion batteries will contribute substantially to this growth, reaching $553 million in 2020. Medical, commercial and data centre operators are the major users of the conventional backup and UPS markets, which have a global installation base of 800 GW – roughly about 15% of global peak consumption.

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