The global primary battery market was valued at more than $14 billion in 2015 and is expected to surpass $17 billion by 2020, says Technavio.
Technavio’s energy storage portfolio has announced its latest market research report on primary batteries for the forecast period, 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global primary battery market during the forecast period. Some of the top vendors listed in this industry analysis include Duracell, Energizer, Hitachi Maxell, Sony, Toshiba, and Saft.
In terms of geographical analysis, the Americas will account for the largest share of the global market and is expected to reach revenues of almost $7 billion by 2020. The US will emerge as the key revenue-generator in this region.
“Consumers in the global market for primary batteries prefer purchasing locally manufactured batteries in spite of the availability of branded alternatives. Fueled by the easy availability and affordable prices of locally manufactured primary batteries, consumers are increasingly shifting towards locally manufactured primary batteries. Vendors in the market are trying to keep pace with the changing dynamics of the market by launching new, improved products and by shifting their manufacturing bases to offshore locations,” says Thanikachalam Chandrasekaran, a lead analyst at Technavio for research on energy storage.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increased demand for portable medical equipment
The recent upsurge in the demand for portable medical equipment is propelling the demand for primary batteries in the global market. Each medical device has different functionalities, and according to the functionality, it varies in the power or energy needed. High-energy pulse along with the battery make a portable device 60% smaller than the usual portable devices. Pulse power along with batteries deliver long-term power solutions to high-end portable sophisticated devices such as portable EKG and defibrillators.
Improved consumer spending
Improving consumer spending is anticipated to support sales of high-drain electronics, which will, in turn, drive the demand for both primary and secondary replacement batteries. Rising incomes contributing to higher consumption in Asia. This is fueling the consumption, with households increasingly using debt for spending. Developing economies such as China and India, where the spending on consumer electronics is high, 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. The rise in demand for gadgets such as trimmers, electric shavers, and remote controls is also an incentive for growth of the global primary battery market.
Favorable characteristics of primary batteries
One of the important 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. AAA, AA, C, D, and 9V batteries are ideal for both, heavy duty and general-purpose applications. Primary batteries do not require recycling, unlike rechargeable batteries owing to the absence of any mercury content. The availability of varied choices for medium-drain, high-drain, and low-drain applications coupled with its widespread availability is one the fundamental drivers for the growing adoption of primary batteries globally.
Some of the other prominent vendors identified in this report are EXCELL Battery Group, Quallion, Panasonic, GP Batteries, Dongguan Large Electronics, Shenzhen Shirui Battery, Gao Huan photoelectric technology, Wuhan Fanso Technology, Enersys, and Varta (Consumer batteries).
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Primary Battery Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Lithium Ion Battery Market 2016-2020
- Global Unmanned Aerial Vehicle Battery Market 2016-2020
- Global Battery Energy Storage Market for Smart Grid 2016-2020
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