DUBLIN–(BUSINESS WIRE)–The “Primary Battery Market – Growth, Trends, Impact of COVID-19, and Forecast (2022-2027)” report has been added to from ResearchAndMarkets.com offer.
The primary battery market is expected to register a CAGR of over 5% during the forecast period 2022-2027, reaching approximately USD 20.05 billion by 2027, from USD 14.5 billion in 2020.
Camelion Battery Co. Ltd
Energizer Holdings Inc.
GP Batteries International Ltd
Saft Group SA
Main market trends
Primary alkaline battery to dominate the market
The primary alkaline battery is expected to maintain its dominance over the forecast period. These types of batteries have a high specific energy and are economical, environmentally friendly and leak-proof even when fully discharged. Alkaline can be stored for up to 10 years, has a good safety record, and can be transported on an airplane without being subject to International Air Transport Association (IATA) and other regulations.
Alkaline batteries offer higher power output, longer shelf life, and last longer than carbon-zinc batteries, and have emerged as a replacement for carbon-zinc batteries since 1960.
Over the years, North American and European regions have been the main demand for alkaline batteries. However, due to factors such as the shift away from carbon-zinc batteries, the demand for alkaline batteries in Asia-Pacific and South America is expected to remain high.
There have been major advancements in the performance of alkaline batteries over the past few decades. These advances are the result of changes in packaging and manufacturing techniques rather than improvements in the basic chemical system.
In addition, alkaline batteries are environmentally friendly and can be disposed of as garbage. In addition, they do not require active collection and recycling. However, the batteries that have been manufactured are mercury-free and therefore do not present any environmental pollution or danger when disposed of. This creates a positive demand for these batteries since other consumer rechargeable batteries must be properly collected and recycled.
In December 2021, Volt Resources announced that it would supply graphite and develop new technologies to improve the performance of alkaline batteries through a partnership with New York-based alkaline battery producer Urban Electric Power.
Asia-Pacific will dominate the market
Asia-Pacific accounted for the largest share of the global primary battery market in 2020. The region is also expected to maintain its dominance over the forecast period.
The sale of primary batteries is expected to increase, but at a slower pace than that of secondary batteries. In addition, alkaline batteries are expected to strengthen their dominance in the primary battery market and continue to witness the fastest growth, primarily due to the increasing demand for zinc-based batteries. Alkaline batteries are preferred for their higher power and longer life than zinc-carbon/chloride batteries.
Domestically, China has been dominating the overall global battery market for a very long time and is also expected to maintain its leading position in the market during the forecast period. China’s rise as a manufacturing powerhouse and its rapid growth in consumer electronics manufacturing is expected to boost the country’s major battery market.
Japan’s buying parity has steadily increased over the past decade. Rising purchasing parity, combined with the introduction of new primary battery-powered electronic devices, has led to an increasing demand for primary batteries for consumer electronics in Japan. Local manufacturers meet most of the demand for batteries.
India is the fifth largest country in the world in terms of military expenditure. Due to geopolitical tensions with neighboring countries, mainly Pakistan and China, India is expected to continue increasing its military spending during the forecast period, which will drive the demand for primary batteries in the defense sector . In November 2021, the Indian Defense Acquisition Council (DAC) authorized the procurement of locally produced military equipment worth INR 79.65 billion.
Due to the impact of the Covid-19 pandemic, the demand for medical equipment in the healthcare sector has increased exponentially. The demand for essential medical equipment such as pulse oximeters, multimeters and other essential medical equipment that uses primary batteries has also increased due to the pandemic. India and China have been hit hard by the pandemic in the region, which has led to market growth.
Main topics covered:
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD Billion, to 2027
4.3 Trends and recent developments
4.4 Government policies and regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 Porter’s Five Forces Analysis
5. MARKET SEGMENTATION
5.1.1 Primary Alkaline Battery
5.1.2 Primary lithium battery
5.1.3 Other types
5.2.1 North America
5.2.4 South America
5.2.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/6ak3cl