Primary Battery Market: Current Analysis and Forecast (2020-2030)
Emphasis on Type (Primary Alkaline Battery, Primary Lithium Battery, Other Types); Application (Defense, Aerospace, Medical, Aviation, Others)
The Primary Battery market is expected to grow at a strong CAGR of 10% during the forecast period owing to the rising demand for portable electronic devices. In addition, the growing demand for portable power sources and the support for space, military, and environment improvement programs are accelerating the adoption of zinc-carbon or Leclanche batteries which is also fueling the market size of the primary battery. Furthermore, the recent advancement in primary batteries such as power density, shelf life, and safety resulted in new uses in medical electronics, memory backup, and other long-term applications as well as in an improvement in the lifetime and reliability of battery-operated equipment.
Some of the major players operating in the market include Camelion Batterien GmbH, Duracell Inc., EaglePicher Technologies, Energizer Holdings Inc., FDK Corporation (Fujitsu Limited), GP Industries Limited (Gold Peak Industries Limited), Integer Holdings Corporation, Maxell Ltd. (Hitachi Ltd.), Panasonic Holdings Corporation, and Saft (TotalEnergies SE).
Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, the primary lithium battery segment held a dominating share of the market in 2022”
Based on technology, the primary battery market is bifurcated into the primary alkaline battery, primary lithium battery, and other types. The primary lithium battery segment caters for an extensive share of the market and is expected to grow at a significant rate in the forecasted period as well. It is mainly owing to the shelf life of the lithium batteries being as high as 10 years, with a capability of storage at temperatures as high as 70 degrees C and low-temperature operation has been extended from 0 to 40 degrees C. Moreover, the high specific energy of these lithium batteries, at least twice that of most conventional aqueous primary batteries, and their superior shelf life opened up a wide range of applications such as small coin and cylindrical batteries for memory backup and cameras to very large batteries which were used for back-up power for missile silos.
“Amongst application, the defense held the majority share of the market in 2022”
Based on application, the primary battery market is segmented into defense, aerospace, medical, aviation, and others. The defense segment caters extensive share of the market and is anticipated to grow at an influential CAGR in the forecasted period as well. Factors such as the rising adoption of portable electronic devices such as torpedoes, UAVs/UUVs, and other devices coupled with reliable, portable energy storage keeps soldiers connected, aware, and safe accelerating the demand for the primary battery.
Primary Battery Market Report Coverage
“Asia Pacific Caters Significant Share of the Primary Battery Market in 2022”
The Asia Pacific market is expected to register the highest growth rate in the forecast period. It is mainly owing to the large manufacturing facilities of toys, electronic devices, like remote controls, watches, and medical equipment, like glucose monitors and blood pressure monitors in the region are driving the market size of primary batteries. In addition, the soaring development of portal devices in medical, defense, and consumer electronics across the region is also encouraging the demand for the primary battery market. For instance: The government of Japan is aiming to manufacture domestic portable medical devices not only to reduce the dependency on imports but also to become a major exporter. Some of the government programs aimed at driving medical device manufacturing are Japan’s Revitalization Strategy and Health and Medical Strategy.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Primary Battery market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Primary Battery Market Analysis (2020-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global primary battery market were the three major steps undertaken to create and analyze the adoption of primary battery in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Primary Battery market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Primary Battery market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Primary Battery market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Primary Battery market. Further, we conducted factor analysis using dependent and independent variables such as type, and application of the Primary Battery market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Primary Battery market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Primary Battery market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the primary battery market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Primary Battery market in terms of product offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Primary Battery market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, display type, and end-use in the global Primary Battery market.
The main objective of the Global Primary Battery Market Study
The current & future market trends of the global primary battery market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the primary battery market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the type and application.
- Define and analysis of the regulatory framework for the primary battery industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the primary battery market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Primary Battery market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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