Global Primary Battery Market to Witness Growth Through 2020, Due to Favorable Characteristics of Primary Batteries: Technavio

LONDON--()--Technavio analysts forecast the global primary battery market to grow at a CAGR of around 4% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global primary battery market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top six vendors operating in the market. The vendors included in the report are component manufacturers and suppliers.

According to Thanikachalam Chandrasekaran, a lead analyst at Technavio for energy storage research, “The growth of the market is primarily driven by the increasing use of primary battery in applications such as hearing aids, watches, radios, and toys. Growth prospects of the global primary battery market are highly dependent on the cost, quality, environmental norms, and technological efficiency of these batteries.”

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Technavio energy sector analysts highlight the following three factors that are contributing to the growth of the global primary battery market:

  • Increased demand for portable medical equipment
  • Improved consumer spending
  • Favorable characteristics of primary batteries

Increased demand for portable medical equipment

The demand for portable medical devices is increasing day by day. High-energy pulse along with the battery make a portable device 60% smaller than the usual portable devices. Pulse power technology accumulates energy and releases it when needed. Pulse power along with batteries deliver long-term power solutions to high-end portable sophisticated devices such as portable EKG and defibrillators. This rise in portable medical devices is driving the primary battery market and it is expected to boost the market during the forecast period.

Tadiran Batteries, a manufacturer of lithium battery technology, recently developed a high-energy lithium battery that is significantly smaller in size, compared to the regular-sized batteries. These small-sized batteries intend to make portable devices more efficient. Lithium batteries were first used in pacemakers in 1960s. Now, primary lithium batteries, power almost all types of medical devices such as surgical saws, drills, and infusion pumps.

Each medical device has different functionalities and the power or energy needed by the device varies depending on the functionality. Vendors such as Saft are providing a wide range of batteries with different outputs to cater to this need.

Improved consumer spending

Improving consumer spending will support the sales of high-drain electronics, boosting demand for both primary and secondary replacement batteries. Rising incomes contributed to higher consumption in Asia in 2015. This trend is expected to continue given that the size of the middle class population in APAC is anticipated to expand to 3228 million units by 2030 from 525 million units in 2009.

Developing economies such as China and India offer a lucrative market for battery vendors. The market in these regions is characterized by a vast population, high disposable income, and an open economy. Brazil and Mexico, the two largest countries in Latin America, are expected to witness tremendous growth in per-capita annual disposable income during 2015-2020. “The increase in consumption patterns helps in the growth of the electronic devices and gadgets such as trimmers, electric shavers, and remote controls, which will directly drive the primary battery market,” says Thanikachalam.

Favorable characteristics of primary batteries

One of the vital strengths of the alkaline battery chemistry is its capacity to power day-to-day devices such as alarm clocks, electric shavers, remote controls, and radios. As a result, there is a growing demand for these batteries. Primary batteries have a higher energy density, are easily available, and have a long shelf life. These batteries (AAA, AA, C, D, and 9V) are suitable for heavy duty and general-purpose applications.

Primary batteries are non-rechargeable disposable batteries. On an average, a primary battery can power a device for two to four months, after which it needs to be replaced. Therefore, the demand for these batteries is almost steady throughout the year. Moeover, primary batteries do not require recycling because they do not have mercury content. Widespread availability, coupled with a varied choice offered by manufacturers according to applications (different series of alkaline batteries are available for medium-drain, high-drain, and low-drain applications), creates large-scale demand for alkaline batteries.

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The research study covers the present scenario and growth prospects of the global primary battery market for 2016-2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com