How Has The Lithium Primary Batteries Market Size Evolved In Recent Years?
The lithium primary batteries market has seen considerable growth due to a variety of factors.
• The market size of lithium primary batteries has seen a swift expansion in the last few years. The market is projected to progress from a value of $11.5 billion in 2024 to reach $12.72 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 10.6%.
Factors contributing to the growth during the historic period included a heightened demand for consumer electronics, robust economic development in burgeoning markets, an increase in disposable income, and a surge in the demand for air travel.
What Is The Forecast For The Lithium Primary Batteries Market By 2029?
The lithium primary batteries market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the lithium primary batteries market is anticipated to witness solid expansion. The market size is projected to climb to $17.72 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 8.6%.
This projected growth can be linked to the rising demand for lithium primary batteries in portable electronic devices, as well as a growing need from the medical sector. The key developments expected during the forecast period encompass the production of paper-based bio-batteries, the application of artificial intelligence and machine learning techniques, the initiation of battery certification programs, and the emphasis on automation and robotics technologies in manufacturing processes.
What Are The Key Drivers Fueling Growth In The Lithium Primary Batteries Market?
The boom in the lithium primary batteries market is being driven by the escalating demand for consumer electronics. Everyday consumer products such as TV remotes, clocks, and toys frequently utilize non-rechargeable primary batteries like dry batteries and button-type batteries. The Japan Electronics and Information Technology Industries Association, a trade association based in Japan, reported in May 2023 that the total output of electronic equipment in Japan surged to 771,457 units. Furthermore, the manufacture of consumer electronics rose to 32,099 units in May 2023, a noteworthy increase from 25,268 units in May 2022. The high demand from the consumer electronics sector is expected to majorly boost the income produced from the lithium primary batteries market.
How Is The Globa Lithium Primary Batteries Market Divided Into Key Segments?
The lithium primary batteries market covered in this report is segmented –
1) By Type: Lithium/Thionyl Chloride Battery (Li/SOCl2), Lithium/Manganese Dioxide Battery (Li/MnO2), Lithium/Polycarbon Monofluoride Battery (Li/Cfx)
2) By Voltage: Low (Less Than 4.5V), Medium (4.6V To 12V), High (13V And Above)
4) By Operation: Rechargeable, Non-rechargeable
3) By Application: Aerospace And Defense, Medical, Industrial, Other Applications
Subsegments:
1) By Lithium/Thionyl Chloride Battery (Li/SOCl2): High-Energy Density Applications, Long Shelf-Life Applications, Use In Military And Aerospace Devices
2) By Lithium/Manganese Dioxide Battery (Li/MnO2): Consumer Electronics, Medical Devices, Automotive Applications
3) By Lithium/Polycarbon Monofluoride Battery (Li/Cfx): Specialty Applications, High-Temperature And High-Drain Devices, Industrial Equipment And Sensors
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What Trends Are Reshaping The Lithium Primary Batteries Market?
The introduction of a paper-based bio-battery, which draws its power from bacteria, has sparked a surge in demand in the lithium primary batteries market. Paper has distinctive properties that makes it an excellent fit for biosensors. Such unique benefits have led to its application in the creation of a paper-based bio-battery. By incorporating bacteria into the paper batteries, scientists have engineered an affordable, eco-friendly solution to fuel billions of sensors and devices. Currently, the paper battery has a usage life of approximately four months and is designed for single use. Since commercial batteries are both excessively wasteful and costly, and are not compatible with paper substrates, the most optimum solution is to transition to a paper-based bio-battery.
Who Are the Key Players in the Lithium Primary Batteries Market?
Major companies operating in the lithium primary batteries market include:
• Ultralife
• Varta AG
• Maxell Ltd
• GP Industries Ltd
• SAFT
• China Electronics Cooperation
• Contemporary Amperex Technology Co. Limited (CATL)
• Sunwoda Electronic Co
• Tianneng Group
• Chaowei Power Holdings Limited
• Desay Battery Co. Ltd.
• AKOM
• InoBat Auto
• Samsung SDI
• SK Innovation
• LG Chem
• Valence Technology Inc
• A123 Systems LLC
• Rock Tech Lithium
• Standard Lithium
• American Lithium
• Tesla Inc
• Bren-Tronics Inc
• Duracell
• FDK Corporation
• Energizer Holdings
• Renata SA
• Toshiba Corporation
• Amar Raja Batteries Ltd
• Surya Roshini Ltd
• Fujian Jinhua Integrated Circuit
• Konka Group Co. Ltd
• Hisense Group
What are the Regional Insights into the Lithium Primary Batteries Market?
Asia-Pacific was the largest region in the lithium primary batteries market in 2024. Western Europe is the second-largest region in the lithium primary batteries market share. The regions covered in the lithium primary batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
