Global demand for batteries has never been higher than it is now, and a new report has claimed that demand will only increase in the near future. Experts are now estimating 7.7 percent annual growth through 2019 for the battery industry, thanks largely to the huge growing demand for high-drain devices in China and India. Increases in household income in these countries has meant far more smartphones, laptops and tablets being sold, all of which need batteries. Sales of hybrids and electric cars in North America and Western Europe are also factor in the increased demand.
Although cars aren’t the biggest part of the demand for batteries, it is demand for vehicle batteries that is doing the most to further research into battery technology, including manufacturing techniques, due to the fact that there is no more high-drain a consumer product than an electric car. This had led to some important advances, like Tesla’s new Gigafactory. When completed, it is supposed to cut battery per kWh costs by a whopping 30 percent. Given that batteries tend to be the most expensive part of an electric car, this is a big deal, and a hugely important step toward making electric cars more mainstream.
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