Global Primary Battery Market to Grow at a 6.3% CAGR from 2023 to 2031, Reaching US$ 2.7 Billion | Exclusive Report by Transparency Market Research

Wilmington, Delaware, United States, May 30, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The Global Primary Battery Market was valued at US$ 1.9 Bn in 2022 and is projected to expand at a CAGR of 6.3% from 2023 to 2031.

Considerable advancement in coin and AAA cell battery technologies is likely to create significant revenue opportunities for companies in the market. Widespread utilization of primary batteries, especially lithium-ion and zinc-manganese dioxide (Zn-MnO2) batteries, in a broad range of commercial and consumer applications is fueling the market growth.

Steady research in new chemistries of lithium-ion cells is broadening primary battery market outlook. High energy density, long shelf-life, and cost-effectiveness are the major product attributes of all types of primary batteries that have attracted end-users in multiple industries, especially in military and special industrial applications. Surge in demand for next-generation primary battery chemistries in medical devices is likely to spur market development in the near future.

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Key Findings of Study

• Surge in Usage of Coin and AAA Cell Batteries in Active Radio Frequency Identification (RFID): Based on type, the coin and AAA cell batteries (for active RFID) segment accounted for an overwhelming market share of more than 90% in 2022. Steady technological advancements in active radio frequency identification (RFID) are propelling growth of the segment.
  
  Rise in utilization of AAA cell batteries in real-time locating system (RTLS) in the healthcare industry is anticipated to augment segment value in the global market in the next few years. Improvements in Wireless Sensor Network (WSN) are positively influencing the market dynamics. Introduction of modern active RFID tags is likely to fuel the segment in the near future.
• Significant Adoption of Primary Battery Technology in Portable Electronics: Usage of primary batteries in a multitude of consumer electronics is increasing at a rapid pace. This is expected to augment the market growth in the next few years. Rapid increase in adoption of miniature electronics in medical and healthcare industries, such as in cardiac pacemakers and wellness wearable devices, is anticipated to bolster the market.
  
  An instance is widespread usage of lithium-based primary battery in implantable pacemaker batteries. Considerable demand for primary battery in a range of smart devices, including smart meters, intelligent mining drill bits, animal-tracking, remote light beacons, and pressure gauges used in vehicles, presents lucrative growth opportunities to battery manufacturers around the globe.

Key Drivers

• Rapid increase in usage of portable and flexible electronics in a number of commercial and industrial applications is anticipated to drive the demand for primary battery
• Considerable expansion of wireless sensor networks and penetration of Internet of Things (IoT) technology in commercial applications are driving the primary battery market

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Regional Growth Dynamics

• Asia Pacific is a lucrative region of the global primary battery market. It held market share of 40.0% in 2022. Surge in demand for portable electronics is likely to bolster the market in the region in the near future. Steady R&D activities in flexible electronics are likely to fuel the market in the next few years.
• Europe is also a promising region, which constituted market share of 20.8% in 2022. Middle East & Africa and Latin America offer significant revenue opportunities to companies in these regions. Growth of the market in Middle East & Africa and Latin America can be ascribed to considerable development of advanced portable electronics and smart devices for medical and military applications in these regions.

Competition Landscape

The business landscape is highly consolidated. Prominent companies operating in the primary battery market are

• BlueSpark
• Imprint Energy
• Enfucell
• Molex, LLC
• Varta AG
• Avery Dennison Corporation
• HID Global Corporation
• Hudson.

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Key Segments

Type

• Zinc Manganese Oxide Printed Battery (up to 10 mAh)
• Coin and AAA Cell Battery (for Active RFID)

Application

• Zinc Manganese Oxide Printed Battery (up to 10 mAh)
  • Temperature Tags
  • Active RFID Tags (Labels)
  • IoT (Internet of Things)
  • Skin Patch
• Coin and AAA Cell Battery (for Active RFID)
  • Disposable
    • Beaconing
    • Transponding
    • Intelligent (hybrid)
    • Battery Assisted Passive (BAP)
    • Real-time Location System (RTLS)
  • Multiple Use
    • Beaconing
    • Transponding
    • Intelligent (Hybrid)
    • Battery Assisted Passive (BAP)
    • Real-time Location System (RTLS)

Region

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East & Africa
  
  

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