Market Insight-Global Primary Lithium Battery Market Overview 2022
Global Primary Lithium Battery Market Size was estimated at USD 2057.16 million in 2021 and is projected to reach USD 2828.04 million by 2028, exhibiting a CAGR of 4.46% during the forecast period– Bossonresearch.com
Lithium batteries are primary batteries that have metallic lithium as an anode. These types of batteries are also referred to as lithium-metal batteries. They stand apart from other batteries in their high charge density and high cost per unit. Depending on the design and chemical compounds used, lithium cells can produce voltages from 1.5 V (comparable to a zinc–carbon or alkaline battery) to about 3.7 V.
Disposable primary lithium batteries must be distinguished from secondary lithium-ion or a lithium-polymer, which are rechargeable batteries. Lithium is especially useful, because its ions can be arranged to move between the anode and the cathode, using an intercalated lithium compound as the cathode material but without using lithium metal as the anode material. Pure lithium will instantly react with water, or even moisture in the air; the lithium in lithium ion batteries is in a less reactive compound.
Lithium batteries are widely used in portable consumer electronic devices. The term "lithium battery" refers to a family of different lithium-metal chemistries, comprising many types of cathodes and electrolytes but all with metallic lithium as the anode. The battery requires from 0.15 to 0.3 kg of lithium per kWh. As designed these primary systems use a charged cathode, that being an electro-active material with crystallographic vacancies that are filled gradually during discharge.
According to Bosson Research, The global market for Primary Lithium Battery is projected to steady growth between 2022 and 2027. In 2021, the size of the market was estimated at almost 2057.16 million U.S. dollars, and is projected to reach USD 2828.04 million by 2028, exhibiting a CAGR of 4.46% during the forecast period.
Figure Global Primary Lithium Battery Market Size
Source: Bossonresearch.com, 2022
Market Trends, Drivers, Restraints, and Opportunities:
l Increased used of sensor-based technologies due rising automation and smart devices is increasing the demand in the market.
l Increasing use of consumer electronics and portable devices is fueling the growth of the market.
l Increased government intervention for production, disposal and recycle of batteries is hindering the growth of the market.
l Rising use of rechargeable batteries in all segments of industries is restraining the growth of the market due to its long durable life.
l Globally, the automotive sector is widening, which is one of the positive trends that is going to foster the growth of the market during the forecast period.
Global Primary Lithium Battery Market: Competitive Landscape
Major companies in global primary lithium battery market includes EVE Energy, SAFT, Gold Peak Industries (Holdings) Limited, Hitachi Maxell. The market players are engaged in developing products having long lasting life, cost effectiveness and rechargeable options to amplify their market share and gain traction in global marketplace. The companies are engaging in strategic acquisitions such as product launches, R&D, agreements, and collaborations to gain market share.
Duracell Inc has developed coin batteries for common use in garage, watches, remote controls, medical device but these batteries have ingestion which can be harmful for children especially below 6years of age so they have developed an engraved warnings on the batteries also using technologies to make them child proof as much as possible because of its usage is also necessary for making toys.
Key players in the Primary Lithium Batteryics Market include:
EVE Energy
SAFT
Gold Peak Industries (Holdings) Limited
Hitachi Maxell
Duracell
Panasonic
Ultralife
Energizer
Renata AG SA (Swatch Group)
EEMB Battery
Chung Pak
Vitzrocell
FDK
Rayovac
Wuhan Lixing (Torch) Power Sources Co.,Ltd
Varta
HCB Battery Co., Ltd
Murata
EnerSys Ltd
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