The global primary battery market size reached US$ 16.4 Billion in 2022. By 2028, It will reach US$ 23.8 Billion, exhibiting a CAGR of 6.15% during 2023-2028.
BROOKLYN, NEW YORK, UNITED STATES, April 19, 2023 /EINPresswire.com/ — According to the latest report by IMARC Group, “Global Primary Battery Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2023-2028”, the global primary battery market size reached US$ 16.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.8 Billion by 2028, exhibiting a growth rate (CAGR) of 6.15% during 2023-2028.
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Primary batteries, commonly known as dry cells, are single-use and non-rechargeable galvanic enclosures that store electricity for convenient usage. They are environment-friendly and offer various advantages, such as instant readiness, reliability, high energy, and storage. Primary batteries are used in cardiac pacemakers, which are surgically embedded into the human body. They are also utilized in several consumer products, including door locks, home smoke detectors, remote-control garage openers, remote controls for televisions and stereo sets, etc. Primary batteries find widespread applications in smart meters, intelligent drill bits in mining, animal-tracking, tire pressure gauges of vehicles, small light beacons, wristwatches, and electric keys.
Market Trends and Drivers:
The escalating demand for low battery drainage equipment across the globe and the rising utilization of mobile consumer units are among the preliminary factors driving the primary battery market. Besides this, the increasing production of various medical devices, such as surgical tools, defibrillators, robots, hearing aids, infusion pumps, monitors, and meters, is further augmenting the market growth.
Moreover, the elevating need for alkaline primary batteries, owing to their operational capabilities of work over several temperatures, efficient voltage deliverability, longer shelf life, and high energy density, is also catalyzing the global market. Apart from this, the development of various weapons and missiles in the defense sector is acting as another significant growth-inducing factor. Furthermore, the growing product popularity in the agriculture industry to power sensors, irrigation systems, wind generators, and water pumps is anticipated to propel the primary battery market over the forecasted period.
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Primary Battery Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global primary battery market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Camelion Batterien GmbH, FDK Corporation (Fujitsu Limited), GP Industries Limited (Gold Peak Industries Limited), Integer Holdings Corporation, Maxell Ltd. (Hitachi Ltd.), Panasonic Holdings Corporation, Duracell Inc., EaglePicher Technologies, Energizer Holdings Inc., Saft (TotalEnergies SE) and Ultralife Corporation.
Key Market Segmentation:
The report has segmented the global primary battery market based on type, end use industry and region.
Breakup by Type:
• Primary Alkaline Battery
• Primary Lithium Battery
Breakup by End Use Industry:
Breakup by Region:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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