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Batteries start to charge up
Disposable battery market starts to dim
NEW YORK -- The United States may be in the midst of an economic slowdown, but when it comes to the consumer electronics market it's still a case of "go, gadget, go!" As innovation in the battery market continues to meet consumer and product demands, SBI's new report, U.S. Batteries Market, estimates a compound annual growth rate of 5 perecent for rechargeable batteries from 2002 to 2007, compared with flat growth for disposables. SBI expects the overall battery market to dip in 2008, followed by steady growth in spite of challenging economic times, topping $9 billion by 2012.
"The emergence of so many portable, battery-operated devices -- particularly computers and cell phones -- has sped up battery innovation for long-lasting, on-the-go power," notes Cathy Minkler, Editor of SBI. "Growing consumer use of these devices has fueled the development of new battery technologies such as pre-charged rechargeables and on-the-go chargers that use batteries to recharge cell phones. Now, batteries that can tap into biodegradable materials, solar power or even nanotechnology represent the new frontier."
Although alkalines are still the most popular type of household-use battery, rechargeables are gaining traction due to consumer concerns about the environmental impact of disposables and recent innovations such as the pre-charged rechargeable battery. Product differentiation and consumer sophistication also present opportunities for retailers that have the knowledge to provide customers with battery products that meet their power needs.
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