The Primary Battery Market to grow by USD 6.22 billion from 2022 to 2027

NEW YORK, Aug. 4, 2023 /PRNewswire/ -- The primary battery market size is estimated to grow by USD 6.22 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6.36%. The growth momentum will progress during the forecast period. The primary battery market in APAC will grow significantly during the forecast period. China is the major contributor to the market growth in the region. In China, the yearly disposable income per capita is rising. The use of expensive electronics like digital cameras has surged as a result. Most of the world's smart meters will be in APAC. Most smart meters have been installed, mostly in China. These smart meters frequently make use of Saft-provided main lithium batteries. Hence, these factors are expected to drive market growth in the region during the forecast period. For more insights on the historical period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Primary Battery Market - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on end-user (defense, medical, and others), type (alkaline battery, lithium battery, and others), and geography (APAC, North America, Europe, South America, and the Middle East and Africa).

The market share growth by the defense segment will be significant during the forecast period. The new generation of lightweight primary batteries offers various benefits to advanced armed forces. Almost all weapon systems utilized by the US Department of Defence use primary batteries, particularly portable equipment. These batteries are lighter and offer more energy, which is advantageous for a soldier who must carry 15–25 kilograms of batteries alone. The demand for primary batteries will rise because of rising military spending on cutting-edge weapons and an increase in the use of surveillance unmanned aerial vehicles (UAVs).

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Primary Battery Market – Market DynamicsKey Drivers

The growing demand for portable medical equipment is a key factor driving the market growth.

Primary lithium batteries power all types of medical devices which include surgical saws, drills, and infusion pumps.

Furthermore, Vendors are offering a wide range of batteries with different outputs.

Pulse power and batteries deliver long-term power solutions and find their use in high-end, sophisticated portable devices.

The battery varies in power or energy needed according to the different functions of medical devices.

Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

Legislative support for battery recycling is a major trend in the market.

Governments are implementing regulations to recycle batteries that contain harmful material.

This helps in extracting useful metals from scraped batteries which allow manufacturers to overcome cost issues associated with the production of new batteries.

The increasing demand for end-user segments such as hearing aids and consumer electronics

For example, the Department of Energy (DOE) in the US announced an investment of USD 20.5 million in the recycling of lithium-ion batteries.

Significant Challenges

The threat from rechargeable hearing aid solutions may restrict the market growth.

These devices have large power supply requirements when compared with other electronic devices.

The major concerns for users of hearing aids are battery life, pricing, and ease of use.

Furthermore, the development of such products is increasing the adoption of alternative batteries and challenging market growth.

Hence, these factors are expected to drive market growth during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Primary Battery Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the primary battery market between 2023 and 2027

Precise estimation of the size of the primary battery market and its contribution to the market in focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the primary battery market across APAC, North America, Europe, South America, and the Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of primary battery market vendors

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The battery market is estimated to grow at a CAGR of 17.22% between 2022 and 2027. The size of the market is forecast to increase by USD 229.86 billion. Furthermore, this report extensively covers market segmentation by application (portable batteries, automotive batteries, and industrial batteries), type (lithium-ion battery, lead acid battery, nickel metal hydride battery, nickel-cadmium battery, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The shift in the automotive industry to EVs is a key factor driving the market growth during the forecast period.

The aviation battery market size is estimated to grow at a CAGR of 7.26% between 2022 and 2027. The market size is forecast to increase by USD 317.81 million. Furthermore, this report extensively covers market segmentation by battery type (nickel-based batteries, lithium-based batteries, and lead-based batteries), distribution channel (OEM and aftermarket), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The increasing demand for air transport is a key factor driving the market growth during the forecast period.

Primary Battery Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.36%

Market growth 2023-2027

USD 6.22 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.28

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

Europe at 31%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Amara Raja Batteries Ltd., Camelion Batteries GmbH, Dongguan Large electronics Co. Ltd., EaglePicher Technologies LLC, Energizer Holdings Inc., EnerSys, EVE Energy Co. Ltd., Fujitsu Ltd., GP Industries Ltd., Hitachi Ltd., Integer Holdings Corp., Panasonic Holdings Corp., Samsung SDI Co. Ltd., Sony Group Corp., The Duracell Co., Toshiba Corp., TotalEnergies SE, Ultralife Corp., VARTA AG, and Zhejiang Mustang Battery Co. Ltd

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global primary battery market 2017 - 2021

4.2 End-user Segment Analysis 2017 - 2021

4.3 Type Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by End-user

6.1 Market segments

6.2 Comparison by End-user

6.3 Defence - Market size and forecast 2022-2027

6.4 Medical - Market size and forecast 2022-2027

6.5 Others - Market size and forecast 2022-2027

6.6 Market opportunity by End-user

7 Market Segmentation by Type

7.1 Market segments

7.2 Comparison by Type

7.3 Alkaline battery - Market size and forecast 2022-2027

7.4 Lithium battery - Market size and forecast 2022-2027

7.5 Others - Market size and forecast 2022-2027

7.6 Market opportunity by Type

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 Japan - Market size and forecast 2022-2027

9.12 UK - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Amara Raja Batteries Ltd.

12.4 Dongguan Large electronics Co. Ltd.

12.5 Energizer Holdings Inc.

12.6 EnerSys

12.7 Fujitsu Ltd.

12.8 Hitachi Ltd.

12.9 Panasonic Holdings Corp.

12.10 Samsung SDI Co. Ltd.

12.11 Sony Group Corp.

12.12 The Duracell Co.

12.13 Toshiba Corp.

12.14 TotalEnergies SE

12.15 Ultralife Corp.

12.16 VARTA AG

12.17 Zhejiang Mustang Battery Co. Ltd

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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