PUBLISHER: The Business Research Company | PRODUCT CODE: 1429535
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429535
Lithium primary batteries are characterized as disposable batteries, where the charge moves from the cathode to the anode during charging and from the anode to the cathode during discharge. Lithium batteries have a voltage range of 1.5 to 3.7 volts, more than twice that of typical alkaline or zinc-carbon batteries. Common applications for lithium batteries include use in clocks and cameras.
The primary types of lithium primary batteries include lithium/thionyl chloride batteries (Li/SOCl2), lithium/manganese dioxide batteries (Li/MnO2), and lithium/polycarbonate monofluoride batteries (Li/CFX). Lithium Manganese Oxide (LiMnO2) batteries use manganese as the cathode and lithium as the anode. The battery is designed as a spinel to enhance ion flow, incorporating lithium salt as an 'organic solvent' to facilitate current flow between the anode and the cathode. Lithium primary batteries come with different voltage ranges, classified as low (less than 4.5v), medium (4.6v to 12v), and high (13v and above), and they are available as both rechargeable and non-rechargeable. These batteries find applications in aerospace and defense, medical, industrial, and various other fields.
The lithium primary batteries market research report is one of a series of new reports from The Business Research Company that provides lithium primary batteries market statistics, including lithium primary batteries industry global market size, regional shares, competitors with a lithium primary batteries market share, detailed lithium primary batteries market segments, market trends and opportunities, and any further data you may need to thrive in the lithium primary batteries industry. This lithium primary batteries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The lithium primary batteries market size has grown steadily in recent years. It will grow from $2.89 billion in 2023 to $2.96 billion in 2024 at a compound annual growth rate (CAGR) of 2.4%. The growth observed in the historical period can be attributed to several factors, including the increasing demand for consumer electronics, robust economic growth in emerging markets, a rise in disposable income, and an increased demand for air travel.
The lithium primary batteries market size is expected to see steady growth in the next few years. It will grow to $3.27 billion in 2028 at a compound annual growth rate (CAGR) of 2.5%. The anticipated growth in the forecast period can be attributed to the increasing demand for portable electronic devices utilizing lithium primary batteries and a rising demand from the medical industry. Significant trends expected in this period include the manufacturing of paper-based bio-batteries, a focus on employing artificial intelligence and machine learning techniques, an emphasis on launching battery certification programs, and a focus on automation and robotic technologies in the manufacturing process.
The growth of the lithium primary batteries market has been fueled by the increasing demand for consumer electronics. Non-rechargeable primary batteries, including dry batteries and button-type batteries, find common applications in consumer appliances such as TV remote controls, clocks, and toys. For example, in May 2023, the Japan Electronics and Information Technology Industries Association reported a total production of 771,457 electronic equipment units in Japan, with consumer electronics production reaching 32,099 units compared to 25,268 units in May 2022. This surge in consumer electronics production is driving significant demand for lithium primary batteries, indicating positive revenue growth in the market.
The healthcare industry's expansion is poised to be a key driver for the lithium primary batteries market in the foreseeable future. Lithium primary batteries play a crucial role in powering medical devices such as pacemakers and infusion pumps, ensuring reliable and long-lasting performance. In May 2023, the American Health Care Association noted an increase in the number of hospitals in the US, reaching 6,129 from 6,093 in 2022. Additionally, healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms between 2020 and 2021, according to a report from the Office for National Statistics. The growth of the healthcare sector is contributing significantly to the demand for lithium primary batteries.
The introduction of a paper-based bio-battery powered by bacteria has generated substantial demand in the lithium primary batteries market. Leveraging paper as a material for biosensors, researchers have developed a cost-effective and sustainable way to power numerous sensors and devices by integrating bacteria into paper batteries. This innovation addresses concerns about the environmental impact of commercial batteries, offering a promising alternative.
Major companies in the lithium primary batteries market are strategically focusing on developing batteries with enhanced runtime for professional floor-cleaning equipment. Achieving increased runtime involves optimizing energy density and employing efficient power management techniques. Trojan Battery Company LLC, in September 2022, introduced 24-volt and 36-volt lithium-ion batteries tailored for professional floor-cleaning equipment, emphasizing extended runtime and prolonged lifespan. This technology reduces charging time and maintenance requirements, resulting in lower operational costs.
In February 2022, LG Energy Solution, Ltd., a South Korea-based company specializing in batteries, acquired NEC Energy Solutions, a US-based company in the Energy Storage System (ESS) sector. This strategic acquisition aims to accelerate LG Energy Solution's energy storage business and offer clients a comprehensive ESS program to meet the growing demand in the market.
Major companies operating in the lithium primary batteries market report are Ultralife, Varta AG, Maxell Ltd., GP Industries Ltd., SAFT, Amar Raja Batteries Ltd., Surya Roshini Ltd., China Electronics Cooperation, Fujian Jinhua Integrated Circuit, Konka Group Co. Ltd , Hisense Group, Contemporary Amperex Technology Co. Limited (CATL), Sunwoda Electronic Co, Tianneng Group, Chaowei Power Holdings Limited, Desay Battery Co. Ltd., Attero Recycling Pvt. Ltd., Indo National Limited, HBL Power Systems Ltd., Nexperia, ARM, 3db Access AG, Cobham, Dialog Semiconductor, 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., EnerSys Ltd., Smart Modular Technologies, IntelBras, Tecsys, Multilaser, Flextronics, Digitron, AUTER, Ducasse Comercial Ltd., Advanced Electronics Company, Arabian Power Electronics Company, Leap Technologies FZC, United Transformers Electric, Electro Power Systems, Terraco, Avnet South Africa, Kenstan Design Tech, Luminous Nigeria, Dimaps Nigeria Limited, Monbat Batteries PLC, TFP Nigeria Limited, Electrocomp (PTY) Ltd
Asia-Pacific was the largest region in the lithium primary batteries market in 2023. 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
The countries covered in the lithium primary batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The lithium primary batteries market consists of sales of lithium/thionyl chloride battery (Li/SOCl2), lithium/manganese dioxide battery (Li/MnO2), lithium/polycarbon monofluoride battery (Li/CFX), and other lithium primary batteries. These batteries are used in clocks and cameras. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Lithium Primary Batteries Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on lithium primary batteries market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for lithium primary batteries? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The lithium primary batteries market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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