World Batteries. Freedonia Industry Study #1347. Brochure Table of Contents. Study Publication Date: December 2000 Price: $4,600 Pages: 448

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1 Freedonia Industry Study #1347 World Batteries Study Publication Date: December 2000 Price: $4,600 Pages: 448 World Batteries, a new study from The Freedonia Group, provides you with an in-depth analysis of the major trends in the world market for batteries and the outlook for product segments and major markets -- critical information to help you with strategic planning. This brochure gives you an indication of the scope, depth and value of Freedonia's new study, World Batteries. Ordering information is included on the back page of the brochure. Brochure Table of Contents Study Highlights... 2 Study Table of Contents and List of Tables and Charts... 4 Sample Pages and Tables from: Economic and Market Environment... 6 World Overview... 7 Supply and Demand by Country & Region... 8 Industry Structure... 9 Company Profiles List of Companies Profiled Forecasting Methodology About the Company Advantages of Freedonia Reports About Our Customers Related Studies Ordering Information... 16

2 Study Highlights Aggregate world demand for primary and secondary battery products is projected to increase 7.9 percent per year through 2004 to $60 billion. Although the differences are not substantial, global demand for secondary (rechargeable) batteries will exhibit somewhat faster growth than primary (disposable) types through the early years of the new century. Batteries will face increasingly stiff functional competition from alternative "micropower" energy sources such as microturbines and fuel cells, especially in such applications as backup power supplies, lowemission motor vehicles and industrial motive power. The largest battery producing countries in the world are Japan, the US, China, Germany, France and the UK, each with annual shipments in excess of $1 billion. Major global suppliers of primary batteries include Duracell (subsidiary of Gillette), Energizer Holdings and Rayovac of the US; Matsushita Electric Industrial (via its widely recognized PANASONIC brand name) and Sanyo Electric of Japan; VARTA of Germany; and Philips Electronics of the Netherlands. Freedonia Industry Study 2

3 Study Highlights World Battery Demand, 1999 Western Europe 24.0% North America 27.7% Japan 17.6% China 6.1% Other Asia/Pacific 12.1% Rest of World 12.5% World Battery Demand (million US dollars) % Annual Growth Item /94 04/99 Population (million persons) $ battery/capita World Battery Demand Sample Table By Region: North America Western Europe Japan China Other Asia/Pacific Rest of World By Type: Primary Secondary Copyright by The Freedonia Group, Inc. Order form on last page 3

4 Table of Contents Tables and Charts are featured for each region and country. Historical data and forecasts are presented for 1994, 1999, 2004 and For each country/region, the following is given: Gross Domestic Product (bil 1997$) $ GDP/capita Population (million persons) $ battery/capita Battery Sales Primary Secondary net exports Battery Shipments Primary Secondary Primary Battery Sales By Use: Consumer Industrial & Other By Type: Alkaline Zinc-Carbon/Zinc-Chloride Other vehicles/000 capita Motor Vehicles in Use (million) $ automotive batteries/vehicle $ consumer & other batteries/capita Secondary Battery Sales By Use: Automotive Consumer Industrial & Other By Type: Lead-Acid Nickel-Based Lithium-Based Other I. EXECUTIVE SUMMARY Summary Table...3 II. III. ECONOMIC & MARKET ENVIRONMENT General...4 World Economic Outlook...5 Recent Economic Performance...6 Macroeconomic Outlook...9 Table - Gross Domestic Product by Region Personal Income & Expenditure Trends Table - Per Capita GDP by Region Fixed Investment & Industrial Output Trends Table - Industrial Sector Indicators by Region World Demographic Outlook Table - Population by Region World Motor Vehicle Outlook Motor Vehicle Registration Trends Table - Motor Vehicle Registrations by Region Motor Vehicle Production Trends Table - Motor Vehicle Production by Region Electric/Hybrid Vehicle Outlook World Electrical/Electronics Sector Outlook Battery Pricing Trends Table - Real Growth in World Battery Shipments Chart - World Batteries Pricing Patterns Battery Technology Trends Battery Construction & Operation Conventional Battery Chemistries Advanced Battery Chemistries Fuel Cells & Other Alternative Power Sources Environmental & Regulatory Issues SUPPLY & DEMAND General World Battery Markets Regional Markets Table - World Battery Demand by Region Chart - Battery Demand/Per Capita GDP Relationship, User Markets Table - World Battery Demand by Use Chart - World Battery Demand by Use, Freedonia Industry Study

5 IV. Consumer Automotive Industrial & Other World Battery Production Producing Countries Table - World Battery Shipments by Region Chart - Battery Shipments by Region, Battery Products Table - World Battery Shipments by Product Primary Table - Primary Battery Demand by Chemistry Secondary Table - Secondary Battery Demand by Chemistry International Trade Flows Table - Battery Net Exports by Region NORTH AMERICA General United States Canada Mexico V. LATIN AMERICA General Brazil Other Latin America VI. WESTERN EUROPE General Germany France United Kingdom Italy Other Western Europe Austria Belgium The Netherlands Spain Sweden Switzerland All Other West European Countries VII. EASTERN EUROPE General Russia Other Eastern Europe VIII. AFRICA/MIDEAST IX. ASIA/PACIFIC General Japan China Other Asia/Pacific Australia Hong Kong India Indonesia Singapore South Korea Taiwan All Other Asia/Pacific Countries X. INDUSTRY STRUCTURE General Industry Composition & Market Share Chart - Total World Batteries Market Share by Company, Chart - World Primary Batteries Market Share by Company, Chart - World Lead-Acid Batteries Market Share by Company, Chart - World Non-Lead-Acid Secondary Batteries Market Share by Company, Research & Product Development Manufacturing Marketing & Distribution Table - Selected Strategic Partnerships Financial Requirements Mergers, Acquisitions & Industry Restructuring Table - Selected Acquisitions & Divestitures Table - Selected Battery Products Manufacturers Revenue Data, Company Profiles Order form on last page 5

6 Economic & Market Environment The Market Environment Section discusses key indicators that drive demand for batteries, including the world outlook for motor vehicles and battery technology trends, and Freedonia s uniquely developed macroeconomic indicators. Fuel Cells & Other Alternative Power Sources ECONOMIC & MARKET ENVIRONMENT This information provides you with an understanding and an analysis of the climate in which the global batteries industry operates and helps you build your market strategy to sustain longterm growth. The relentless demands of society for ever more powerful, ever more environmentally friendly energy supplies have in recent years resulted in an intensive examination of a variety of non-battery alternative sources of portable and stationary power. Fuel cells have received the most attention in the popular and SAMPLE PAGE business media, which is somewhat ironic considering that they are probably the furthest away from large-scale commercialization. Aside from previously mentioned low-emission vehicles, fuel cells have the potential to compete (or perhaps in even ultimately supplant) batteries in various of the latter s bedrock applications, including back-up power supplies and portable electronic device operation. Like batteries, fuel cells generate electric energy through a chemical reaction. Unlike batteries, however, which store energy that is subsequently used up upon discharge (i.e., the chemical reaction taking place), fuel cells can produce power continuously as long as fuel and oxygen are supplied to the cell. In the most basic terms, fuel cells may be defined as electrochemical devices that combine atmospheric oxygen with hydrogen or hydrocarbon fuels and directly convert chemical energy into electrical energy. The fuel and oxygen are not stored in the fuel cell, but continuously flow into the unit, where they react at near-ambient temperature and pressure to produce electrical energy. Since fuel cells use atmospheric oxygen as one of the reactants, they have a potentially high specific energy and power density, which, along with their generally benign impact on the environment, accounts for the recent surge in interest in the devices. Fuel cells also resemble batteries with respect to their fundamental operating components -- anode, cathode and electrolyte. Operationally, fuel cells are essentially electrolysis (the splitting of water into hydrogen and oxygen) working Copyright by The Freedonia Group, Inc. 6 Freedonia Industry Study

7 World Overview The World Supply and Demand Section highlights the key issues that have affected the global battery market over the past ten years and summarizes contributing growth factors. This information helps you: Focus your sales and marketing efforts on high growth areas. Propose new areas for development Battery Demand per capita (US $) SUPPLY & DEMAND Battery Products - Primary Global demand for primary battery products is projected to increase 7.4 percent per annum through 2004 to $23 billion, which compares quite favorably to both recent and longer term historical norms. Helping to fuel gains will be such fundamental factors as secular expansion of developing country markets and generally favorably cyclical dynamics within the industrialized world. But by far the principal factor driving growth in the primary battery market will be the ongoing conversion from basic and less expensive zinc-carbon/zinc-chloride dry cell batteries to more advanced, higher-priced alkaline types. Although this conversion process has been underway for some time now (and is, in fact, complete or near completion in many if not most developed countries), the potential exists for the pace to be picked up over the next several years as more product becomes available, particularly within the developing regions. A related factor at work here is the advent of so-called superpremium alkaline batteries in the late 1990s, designed to power higher-drain electronic devices traditionally the domain of rechargeables. Such products are even higher-priced than more conventional alkalines, and to the extent that they receive widespread consumer BATTERY acceptance DEMAND / PER will even CAPITA further GDP promote RELATIONSHIP, the overall 1999 size of the primary battery market (logarithmic in value terms. scale, Leading both axes) global suppliers of primary batteries include Duracell (subsidiary of Gillette), Energizer Holdings (spun off from Ralston Purina in April 2000) and Rayovac of the US; Hong Matsushita Kong Electric Industrial (via its widely recognized PANASONIC brand name) and Sanyo Electric of Japan; Singapore Japan VARTA of Germany; and Philips Electronics of the Netherlands. US Switzerland Italy South Korea Spain Other Eastern Europe Other Latin America Other Asia/Pacific SAMPLE PAGE SAMPLE TABLE Africa/Mideast 1 Indonesia GDP per capita ( US$) Order form on last page 7

8 Supply & Demand by Country & Region The Countries Sections analyze primary and secondary battery supply and demand. Canada - Primary Battery Outlook & Suppliers NORTH AMERICA The market for primary batteries in Canada will increase 6.2 percent annually through 2004 to $250 million, slower than forecast growth in rechargeables demand but consistent SAMPLE with recent historical PAGE gains. Although overall macroeconomic growth is expected to slow moderately from the generally brisk rates prevailing over most of the mid/latter 1990s period, consumer spending is expected to be one of the strongest components of the Canadian economy going forward. This portends favorably upon potential demand for products like primary batteries, which are utilized primarily in consumer-related applications. This is all the more so considering that ownership rates for many if not most types of dry cell-powered electrical and, especially, electronic equipment is believed to United Kingdom: Secondary Battery Markets be less intensive in Canada than in the US, implying some room for catching up. (million U.S. dollars) The small Canadian primary battery manufacturing industry boasts less than $100 million in annual output. Among the major multinationals, Energizer maintains Item 1989 production 1994facilities 1999 in the 2004 country, although 2009 Duracell began to phase out its Canadian manufacturing operations in Population (million persons) South Korea: Battery Supply & Demand vehicles/000 capita (million 525 U.S. 555 dollars) Motor Vehicles in Use (million) $ automotive batteries/vehicle Item $ consumer & other batteries/capita Secondary Battery Sales Gross Domestic 526 Product 761 (bil $) By Use: $ GDP/capita Automotive Consumer Population (million persons) SAMPLE TABLE50.1 & Other Industrial $ battery/capita By Type: Lead-Acid Battery Sales Primary Nickel-Based Secondary Lithium-Based Other net exports Copyright by The Freedonia Group, Inc. Battery Shipments Primary Secondary Copyright by The Freedonia Group, Inc. 8 Freedonia Industry Study

9 Industry Structure Sample page from Freedonia Industry Study Gain #1111 a better World global Security understanding Products of & Systemscompetition and analyze your your company's position in the industry with information about: industry composition & market share mergers & acquisitions research & development marketing & distribution manufacturing financial requirements INDUSTRY STRUCTURE Marketing & Distribution Perhaps in no aspect of battery producers competitive strategy alternatives do differences in generic product type make more of a difference than they do in marketing. In many segments of the industry -- in particular consumer-oriented primary (and most especially alkaline) batteries -- establishing and maintaining company and/or tradename visibility with consumers is so important that attaining SAMPLE PAGE such a status in effect erects another barrier to entry, one comparable (or even higher) to economies of scale in manufacturing. For example, Duracell, Energizer Holdings (via the ENERGIZER and EVEREADY tradenames), Matsushita (via PANASONIC) and Rayovac all leverage their extensive brand name recognition into a position of dominance in the primary battery industry. Other batterymakers desiring to reap the benefits of the leaders high name recognition -- including many Third World producers -- engage in extensive private label manufacture. A similar situation exists in the replacement market for automotive SLI batteries, where brand name recognition is also important (albeit also sometimes in the form of private label brands like Sears DIEHARD, manufactured by Johnson Controls). Thus marketing strategies for consumer-type batteries center around pricing, point-of-sales programs, promotional campaigns (coupons, rebates, etc.) and advertising. Battery displays in stores are important marketing tools, as are brand name symbols like Energizer s ENERGIZER BUNNY. Marketing batteries to industrial, government and other nonconsumer sectors requires an almost entirely different set of strategies. For more commodity-type batteries price, quantity discounts, delivery schedules and long term contract negotiations are prevalent. Specialty batteries, by contrast, must meet specifications which are usually prepared by the purchaser s technical personnel. Marketing tools employed in selling batteries to nonconsumer customers include Copyright by The Freedonia Group, Inc. Order form on last page 9

10 Company Profiles The profiles section analyzes 39 companies active in the world battery industry. These profiles represent a sampling or cross-section of the types of companies involved in the industry. COMPANY PROFILES Divisions, subsidiaries, joint ventures, etc., are discussed under appropriate parent companies. Sources for profiles included: Information provided by key staff members in the respective companies Annual reports 10-K reports Security analysts reports Corporate product literature VARTA AG Am Leineufer Hannover Germany VARTA Batteries Incorporated 300 Executive Boulevard Elmsford, NY VARTA is a holding company which, through its subsidiaries, is engaged in the manufacture and sale of batteries. The Company operates in three divisions: Portable Battery, Automotive Battery and Other. VARTA s 1999 sales totaled SAMPLE PAGE $1.1 billion ($317 million in Germany, $561 million in the rest of Europe, $173 million in America, $42 million in the Asia/Pacific region and $16 million in all other areas). The Company employed 8,040 in The Company is active in the global battery industry through its Portable Battery and Automotive Battery divisions. Through the Portable Battery division, VARTA is a leading European producer of primary and rechargeable batteries for use in such mobile electronic devices as cellular telephones, hearing aids, laptop computers and digital cameras. The Company s Automotive Battery division produces lead-acid and lead-calcium-silver batteries for use in a wide variety of vehicles, including automobiles, motorcycles, buses, farm and construction equipment, and motor boats. Portable Battery Division -- VARTA s Portable Battery division designs, produces and markets batteries for use in mobile electronic devices using a variety of Copyright by The Freedonia Group, Inc. 10 Freedonia Industry Study

11 Companies Profiled Alcatel SA Groupe Saft Saft America Inc. Tadiran Batteries Ltd. BOLDER Technologies Corp. C&D Technologies Inc. Delphi Automotive Systems Corp. Douglas Battery Manufacturing Co. Eagle-Picher Industries Inc. BlueStar Battery Systems Corp. East Penn Manufacturing Co. Inc. Eastman Kodak Co. Matsushita Ultra-Tech Battery Corp. Ener-Tek International Inc. Alupower Inc. Lithion Products Inc. Yardney Technical Products Inc. Energizer Holdings Inc. Eveready Battery Co. Inc. Energy Conversion Devices Inc. GM Ovonic LLC Innovative Transportation Systems AG Ovonic Battery Co. Inc. Rare Earth-Ovonic Metal Hydride Co. Inc. Sovlux Battery Acumuladores Narvit Limitada Exide Corp. Chloride Motive Power Batteries Ltd. GNB Technologies Inc. Lion Compact Energy Tudor India Ltd. Fabbrica Italiana Accumulatori Motocarri Montecchio SpA FIAMM-GS SpA Furukawa Electric Co. Ltd. Siam Furukawa Co. Ltd. Gillette Co. Duracell Inc. Gold Peak Industries (Holdings) Ltd. GP Batteries International Ltd. Grupo IMSA SA de CV ENERMEX SA de CV Enertec Mexico GES America LLC Hitachi Ltd. Maxell Corp. of America Invensys plc BTR plc Fabryka Akumulatorow sa Hawker Group Power Conversion Inc. Semelec VHB Industriebatterien GmbH Japan Storage Battery Co. Ltd. AGM Batteries Ltd. Capitol Battery Ltd. FIAMM-GS SpA GS Battery USA Inc. GS Melcotec Co. Ltd. Johnson Controls Inc. Amara Raja Batteries Ltd. Enertec Mexico GES America LLC Interstate Battery Systems of America Inc. Koor Industries Ltd. LG Group Matsushita Electric Industrial Co. Ltd. Matsushita Ultra-Tech Battery Corp. Panasonic EV Energy Co. Ltd. Moltech Corp. Energizer Power Systems Motorola Inc. NEC Corp. Pacific Dunlop Ltd. Philips Electronics NV Ralston Purina Co. Rayovac Corp. Samsung Group Sanyo Electric Co. Ltd. Soft Energy Co. Sony Corp. Swatch Group Ltd. Renata SA Toshiba Corp. A&T Battery Corp. VARTA AG Enertec Mexico VB Autobatterie GmbH Yuasa Corp. Order form on last page 11

12 Forecasting Methodology Freedonia does not just collect and reprint data; Freedonia develops data. Our analysts thoroughly investigate an industry by extensively interviewing key industry participants and analyzing information from sources such as associations, government and trade literature. Once this research is complete, Freedonia establishes one set of forecasts. All writing, editing and forecasting is done in-house to assure quality and consistency. In cases where data does not exist, Freedonia develops the data based on input/output ratios, bills of materials and flow charts. The following chart summarizes Freedonia's methodology. The Freedonia Economics Group Consistent framework of indicators on... Motor Vehicles in Use Gross Domestic Product World Population... and many others Freedonia In-house Research Quantitative forecasting Industry structure & market share analyses Product analyses & forecasts Methodology for World Batteries Extensive Interviews Key participants Industry experts End-users Proprietary Electronic Database Trade publications Government reports Corporate literature Online databases... and many others 12 Freedonia Industry Study

13 About The Freedonia Group The Freedonia Group, Inc. is a leading international industry study/ database company. Since 1985, Freedonia has published over 1,600 titles covering areas such as plastics, chemicals, coatings and adhesives, building materials, industrial components and equipment, health care, packaging, household goods, security, and many other industries. Freedonia has produced a wide variety of titles, including: Fuel Cells World Electronic Components Automotive Aftermarket in North America Micropower World Electric Vehicles Because Freedonia is a reliable information source, our forecasts are cited in numerous publications such as The Wall Street Journal, The Financial Times, Advanced Battery Technology and The Battery Man. Advantages of Freedonia Reports In-house operations Because all of our staff work at the same location, interaction between analysts and departments provides a strong system of checks and balances. Consistency Our Economics Group develops indicators that are used by all analysts. Therefore, every Freedonia study is based on a consistent set of economic assumptions (GDP, world population, motor vehicles in use, etc.). Reliable forecasts Because all of our forecasts consider the environment in which a product or industry is operating, as well as threats and opportunities to the market, Freedonia forecasts are reliable indicators of future performance. One-on-one interviews All studies are produced by conducting interviews with key industry participants and end-users. Proprietary electronic database Freedonia s analysts can tap into an extensive in-house electronic database containing corporate literature (including private company information), trade publications, government reports and many other sources of information. Order form on last page 13

14 About Our Customers Freedonia's clients include major US and international companies in the manufacturing, services, consulting and financial sectors. Typical purchasers of Freedonia studies : Key Executives Corporate Planners Market Researchers Financial Analysts Information Centers New Product Developers Merger & Acquisition Specialists Since 1985 we have provided research to customers ranging in size from global conglomerates to one person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia research to help with their strategic planning. Some of Freedonia's customers in the battery industry include: Alcatel, Delphi Automotive, Energizer, Exide Corporation, Invensys, Matsushita Electric and VARTA AG. 14 Freedonia Industry Study

15 Related Studies From Freedonia For more information about these or other Freedonia titles, please contact us at: The Freedonia Group, Inc. Phone: (440) (800) Fax: (440) World Electric Vehicles The world market for full-size electric cars, trucks, vans and buses is analyzed in this study to 2004 and It presents data and forecasts by type (battery-powered, hybrid and fuel cell vehicles); by vehicle class (light and heavy duty); by region (North America, Latin America, Western Europe, Eastern Europe, Asia/Pacific and Africa/Mideast) and for key countries within each region. The study also discusses technological and environmental factors and global market share, and profiles key companies. # / $4,400 Micropower Micropower generation units produce electricity close to their point of use, and may or may not be connected to the central utility grid. They include microturbines, fuel cells, solar cells, wind turbines, and internal combustion engines. Microturbines will soon join engines in commercial viability, although fuel cells have greater longterm potential. This study analyzes the US micropower generation industry to 2005 and 2010 by product, application and end user. It also details market share and profiles key firms. # / $3,800 World Electronic Components World electronic component demand will grow over 9% annually based on further development of the Internet, new generations of handheld and wireless computers, and rising electronic content in original equipment. High-end integrated circuit (IC) devices such as microprocessors and digital logic ICs will lead gains. This study analyzes the $278 billion world electronic components industry to 2004 and 2009 by product, market and region, and for 33 countries. It also details market shares and profiles key vendors. # / $4,500 Automotive Aftermarket in North America The aftermarket for light vehicle components and parts in North America will grow over 4% annually. Gains will be driven by the growing size and age of the light vehicle park, with the increasing durability of newer models a limiting factor. Mechanical products will remain the largest segment while electronics grow the fastest. This study analyzes the $45 billion US, Canadian and Mexican automotive aftermarket to 2004 and 2009 by country and product. It also profiles key players and presents market shares. # / $3,700 Fuel Cells US fuel cell markets will rise over fourfold through 2004, with the market reaching $7 billion in Fuel cells combine atmospheric oxygen with hydrogen or hydrocarbon fuels to produce electrical energy, emitting virtually no pollution. Fuel cells may soon be able to compete with internal combustion engines, gas-fired turbines and storage batteries. This study analyzes the US fuel cell industry to 2004 and 2009 by product/chemistry and application. It also details market share and profiles key companies. # / $3,700 OEM Automotive Electronics in North America The original equipment (OEM) market for auto electronics in the US, Canada and Mexico will grow over 6% per annum. Gains will be fueled by the use of electronics to differentiate vehicle models and markup prices. Navigation and instrumentation will lead gains, with head-up displays, collision avoidance and intelligent air bags also doing well. This study analyzes the North American OEM auto electronics industry to 2004 and 2009 by type and country. It also evaluates market shares and profiles key companies. # / $3,700 Batteries - Private Companies Report Private companies are important second tier participants in each segment of the battery industry, and are leading producers of several niche battery products (e.g., primary lithium). Six private firms generate battery related sales of over $50 million. This report profiles over 160 privately-held firms (e.g., Douglas Battery, Eagle- Picher, East Penn, Moltech, Trojan Battery, Wilson Greatbatch) and lists them by product and location. The report also presents market share, forecasts demand and reviews acquisitions. # / $3,000 Batteries US demand for batteries will grow over 6% annually. The secondary (rechargeable) segment will lead growth, driven by sustained healthy demand for consumer-oriented portables and replacement demand in motor vehicles and backup power supplies. Primary battery gains will be fueled by expanding applications for higher-end lithium and zinc-air types. This study analyzes the $9.4 billion US battery industry to 2003 and 2008 by type and application. It also details market share and profiles key producers. # / $3,600 Order form on last page 15

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