Wilmington, Delaware, April 10, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Primary Lithium Batteries Market By Type (Lithium-Thionyl Chloride, Lithium-Manganese Dioxide, and Others), and End-Use (Electrical And Electronics, Automotive, Industrial, and Others): Global Opportunity Analysis And Industry Forecast, 2023-2032”. According to the report, the global primary lithium batteries market was valued at $2.5 billion in 2022 and is projected to reach $3.9 billion by 2032, registering a CAGR of 4.7% from 2022 to 2032.
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Prime determinants of growth
The adoption of primary lithium batteries in medical devices plays a crucial role in driving the demand for the primary lithium batteries market. As the healthcare industry continues to evolve and innovate, the demand for primary lithium batteries is expected to witness growth. The reliability, longevity, and performance characteristics of primary lithium batteries make them a preferred choice for powering a wide range of medical devices, contributing to the overall growth of the primary lithium batteries market. However, primary lithium batteries, especially those containing lithium metal, can pose environmental challenges. Improper disposal of these batteries may lead to the release of hazardous materials, impacting soil and water quality. Despite this restraint, the primary lithium batteries market continues to thrive due to the increasing demand from various sectors, such as consumer electronics and healthcare. Ongoing research and development efforts in batteries technology aim to mitigate environmental impacts and improve the overall sustainability of batteries solutions.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2.5 billion |
| Market Size in 2032 | $3.9 billion |
| CAGR | 4.7% |
| No. of Pages in Report | 105 |
| Segments Covered | Type, End-Use, Region |
| Drivers |
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| Opportunity |
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| Restraint |
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The lithium-manganese dioxide segment dominated the market
By type, the lithium-manganese dioxide segment held the highest market share accounting for more than two-fifths of the global primary lithium batteries market revenue at a CAGR of 5.0% and is estimated to maintain its leadership status throughout the forecast period. Lithium-manganese dioxide batteries are widely used in various consumer electronics, including digital cameras, portable audio devices, handheld gaming consoles, and electronic toys. Their high energy density and long shelf life make them suitable for powering these compact and portable devices.
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The automotive segment dominated the market
By end-use, the automotive segment held the highest market share accounting for more than half of the global primary lithium batteries market revenue at a CAGR of 4.6% and is estimated to maintain its leadership status throughout the forecast period. Many modern vehicles come equipped with keyless entry systems that use electronic key fobs. These key fobs often contain a small primary lithium coin cell batteries to power the remote locking/unlocking functions and other features.
Asia-Pacific dominated the market
Region-wise, Asia-Pacific held the highest market share accounting for more than two-fifths of the global primary lithium batteries market revenue at a CAGR of 5.0%, and is estimated to maintain its leadership status throughout the forecast period. Lithium-manganese dioxide batteries are widely used in various consumer electronics, including digital cameras, portable audio devices, handheld gaming consoles, and electronic toys. Their high energy density and long shelf life make them suitable for powering these compact and portable devices.
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Leading Market Players: -
- Energizer Holdings, Inc.
- Duracell
- Panasonic Corporation
- Tadiran Batteries
- Saft Groupe S.A.
- EVE Energy Co., Ltd.
- Ultralife Corporation
- GP Batteries International Limited
- Maxell Holdings, Ltd.
- Renata SA
The report provides a detailed analysis of these key players in the global primary lithium batteries market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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