Global Primary Battery Market Size Grows Steadily at a CAGR of 6.82%

Introduction

A primary battery is a battery (a galvanic cell) that is designed to be utilized once and then discarded, in contrast to a secondary cell, which can be recharged and reused (rechargeable battery). Typically, the electrochemical reaction in the cell is irreversible, rendering the cell non-rechargeable. The battery's power-generating chemicals are consumed through chemical processes when a primary cell is used; after these reactions are completed, the battery stops producing electricity.

Primary batteries are environmentally friendly and offer various benefits, such as dependability, instant readiness, and high energy and storage capacity. Therefore, they are utilized in cardiac pacemakers that are surgically implanted. They are also utilized in various consumer goods, including door locks, remote-controlled garage door openers, home smoke detectors, and television and stereo remote controls.

Market Dynamics

Increasing Adoption of Primary Batteries in the Healthcare Sector Drives the Global Market

The demand for mobile devices is increasing rapidly. Combining a high-energy pulse with a battery reduces the size of conventional mobile devices by one-fifth. High-end, complex portable devices, such as portable defibrillators and electrocardiograms, require durable power sources and batteries (EKGs). The technology of pulse power stores and releases energy as needed.

The development of portable lifesaving medical devices, such as defibrillators, pacemakers, cochlear implants, and spinal cord stimulators, has further boosted the demand for primary batteries in the market. The aging global population and advances in medical technology have been instrumental in the healthcare industry's adoption of batteries. Thus, the rising demand for portable medical devices will hasten the global market's expansion.

Declining Cost of Li-ion Battery Creates Tremendous Opportunities

Lithium-ion is anticipated to become the preferred battery chemistry in all primary battery end-use industries, including consumer electronics and healthcare. Lithium-ion batteries are widely utilized in cell phones, tablets, and laptops, among other devices, and their demand has skyrocketed over the past decade worldwide.

In addition, it is anticipated that the average price of lithium-ion batteries will continue to decline and reach approximately USD 100/kWh by 2025, making them significantly more cost-competitive than other primary battery types. The trend is anticipated to increase the use of lithium-ion batteries in new and exciting markets, such as remote automobile door locks, remote-controlled garage door openers, home smoke detectors, and consumer electronics remotes, over the forecast period.

Regional Analysis

Asia-Pacific is the most significant global primary battery market shareholder and is expected to expand substantially during the forecast period. Asia-Pacific has historically been a market leader and is anticipated to continue to be one of the leading regions in the global primary battery market throughout the forecast period. Due to the region's prominence in manufacturing toys, electronic devices, like remote controls and watches, and medical devices, like glucose and blood pressure monitors, this is the case. In addition, China has long dominated the global battery manufacturing industry, and its dominance is expected to persist throughout the forecast period. The growth of the primary battery market in China is expected to be driven by the country's emergence as a manufacturing superpower and its massive expansion of consumer electronics production.

North America, which includes the United States and Canada, continues to be a leader in primary battery research and innovation worldwide and is among the major consumers of primary batteries because of rising military spending, consumer electronics, and consumer and manufacturing activity. As healthcare costs continue to rise, patients, particularly those with chronic illnesses, prefer portable medical equipment that can provide the necessary care outside an institution. According to the United States Census Bureau, there were approximately 54.10 million people aged 65 and older in the United States in 2020, and this number is projected to increase to 84.813 million by 2050.

In addition, according to data published by the National Cancer Institute, approximately 1,806,590 new cancer cases were diagnosed in the United States in 2020, and 606,520 people died. The country's surging prevalence of chronic diseases such as cancer and cardiovascular disease is anticipated to increase the demand for portable medical devices, thereby driving the primary battery market.

Key Highlights

• The global primary battery market size was valued at USD73 billion in 2022. It is estimated to reach USD 37.53 billion by 2031, growing at a CAGR of 6.82% during the forecast period (2023–2031).
• Based on type, the global primary battery market is bifurcated into primary alkaline batteries, primary lithium batteries, and other types. The primary alkaline battery segment dominates the global market.
• Asia-Pacific is the most significant global primary battery market shareholder and is expected to expand substantially during the forecast period.

Competitive Players

1. Duracell Inc.
2. FDK Corporation
3. Energizer Holdings Inc.
4. Ultralife Corporation
5. Camelion Battery Co. Ltd.
6. Panasonic Corporation
7. Toshiba Corporation
8. GP Batteries International Ltd.
9. Saft Groupe SA.

Recent Developments

Recent Developments

• July 2023: EnerSys, the world leader in stored energy solutions for industrial applications, revealed that it signed a non-binding MoU with Verkor SAS, a European leader in battery technology, to explore the possibility of developing a lithium battery gigafactory in the United States.
• May 2023: A year after committing, the battery startup Log9 inaugurated India's first commercial lithium-ion (Li-ion) cell manufacturing line, fulfilling its obligation to its investors. The plant, located in Jakkur, Bengaluru, will produce batteries for electric vehicles (EVs) and energy storage, with a concentration on lithium-titanium-oxide (LTO) and lithium iron phosphate (LFP) cell production

Segmentation

1. By Type
   1. Primary Alkaline Battery
   2. Primary Lithium Battery
   3. Other Types
   4. Zinc-Carbon Batteries
   5. Silver Oxide Batteries
2. By Application
   1. Consumer Electronics
   2. Medical Devices
   3. Industrial Applications
   4. Military and Defense
3. By Distribution Channel
   1. Online Retail
   2. Offline Retail
4. By End Use
   1. Residential
   2. Commercial