A key factor driving the growth of the market is the rising demand for medical equipment. Equipment related with surgeries and operations require batteries that have a long battery life and can be disposed after use. This makes primary lithium batteries one of the appropriate solutions for use in medical devices. Thus, the global primary lithium battery market is expected to gain momentum during the forecast period.
This market research report on the global primary lithium battery market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rising demand from remote oceanographic applications as one of the key emerging trends in the global primary lithium battery market:
Global primary lithium battery market: Rising demand from remote oceanographic applications
Technological enhancements in oceanographic equipment has created a new array of opportunities for primary lithium batteries companies. The design and technology used in the marine industry are changing at a rapid pace resulting in an increase in the demand for machine parts that use less space, weigh less, and can increase product life. Furthermore, growing applications such as drifting and mooring in the marine industry are giving rise to applications that require high current pulses for a short span of time and low background currents. Providing the best high current pulses, long shelf life, and energy density, primary lithium batteries are gaining popularity in the marine equipment industry.
“Oceanographic equipment function in harsh conditions and typically require batteries that can operate in extreme conditions and provide reliable power for a longer time period. Additionally, operations of the marine equipment are generally done in remote areas where failure in equipment results in operational failure. Hence, battery proves to be the most crucial part of the marine equipment. Primary lithium batteries have the capability to perform under extreme conditions and deliver high cell voltage, low self-discharge rate, and better storage capabilities,” says a senior analyst at Technavio for research on energy storage.
Global primary lithium battery market: Segmentation analysis
This market research report segments the global primary lithium battery market by application (consumer electronics, industrial, and others) and geographical regions (APAC, EMEA, and the Americas).
The consumer electronics segment held the largest market share in 2017, accounting for nearly 40% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of over 45%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share by nearly 2%.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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