LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global primary battery market predicts a CAGR of around 5% during the period 2018-2022.
The report segments the global primary battery market by battery type (alkaline battery and lithium battery) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global primary battery market, according to Technavio energy researchers:
- Growing demand for portable medical equipment: a major market driver
- Legislative support for battery recycling: emerging market trend
- In 2017, the Americas held a share of around 38% of the global primary battery market
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Growing demand for portable medical equipment: a major market driver
The growing demand for portable medical equipment is one of the major factors driving the global primary battery market. The demand for portable devices has been increasing. High-energy pulse and a battery can make mobile devices three-fifths smaller than typical mobile devices. Pulse power and batteries provide long-term power solutions to high-end, sophisticated portable devices such as portable defibrillators and electrocardiograms (EKGs). Pulse power technology accumulates energy and releases it when required.
According to a senior analyst at Technavio for research on energy storage, “Primary lithium batteries provide power to nearly all types of medical devices such as surgical saws, drills, and infusion pumps. Each medical device has different functions, and the battery varies in power or energy needed depending on the function. Thus, the increasing demand for portable medical devices will drive the growth of the global primary battery market.”
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Legislative support for battery recycling: emerging market trend
Primary batteries are the most regularly used type of batteries for many applications. Governments around the world are formulating regulations to recycle batteries, which have harmful materials such as alkaline cells to prevent groundwater and environmental contamination. Recycling can extract useful metals from scraped batteries. This permits manufacturers to overcome cost issues associated with the production of new batteries. Government legislation on battery recycling mainly aims to create environment-friendly and economically sustainable business models and guarantee recycling efficiency. Different recycling methods for different battery technologies provide different benefits.
Global market opportunities
In 2017, the Americas held a share of around 38% of the global primary battery market. This was because of an increase in the use of consumer electronics and other products such as hearing aid devices, watches, and clocks. The Americas was followed by EMEA and APAC respectively. By 2022, the Americas is anticipated to hold nearly 37.00% share of the global primary battery market. This will be because of the shift toward secondary batteries.
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