The Lithium Primary Batteries Market Size To Reach $3 Bn With The Rising Demand From The Medical Industry
The Business Research Company's lithium primary batteries market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON , July 26, 2022 /PRNewswire/ -- Increasing demand from the medical industry will positively impact the lithium primary batteries market. Primaries play an important role, especially when charging is impractical or impossible in applications such as pacemakers in heart patients. Most implantable pacemaker batteries are lithium-based, draw only 10–20 microamperes (µA) and last 5–10 years. Many hearing aid batteries are also primary with a capacity of 70–600 mAh, good for 5–14 days before a replacement is needed. According to a World Health Organization article published in July 2021, an estimated 17.9 million people worldwide die from heart disease every year, representing 31% of deaths globally.
The global lithium primary batteries market size is expected to grow from $2.69 billion in 2021 to $2.79 billion in 2022 at a compound annual growth rate (CAGR) of 3.6%. The lithium primary batteries market share is expected to reach $3.07 billion in 2026 at a CAGR of 2.5%.
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Automation In Lithium Primary Battery Manufacturing Is A Key Market Trend
Major battery manufacturing companies are automating their operations by using workers and robots on the shop floor for a faster and safer assembly process. This concept is called "cobotics". According to a report by ABB robotics, the current plans for 80 new battery gigafactories are insufficient to meet future automation demand. For example, Jonas & Redmann, a Germany-based machine construction company, relies on the technology and expertise of Omron, a Japanese electronics company, to automate the assembly of primary lithium batteries for a medical device application of a US-based client. The eCobra Pro Scara robot, in combination with powerful camera and visualization technology and a triple gripper, supports accurate layering and precise assembly.
Asia Pacific Is The Largest Region In The Market
Asia-Pacific was the largest region in the primary lithium battery market and was worth $1.04 billion in 2021. The lithium primary batteries market in Asia Pacific is supported by high demand for battery-powered medical devices from the elderly population in the country; rising demand for primary batteries in military and healthcare applications; and increasing demand for smartphones owing to their extended shelf life and enhanced efficiency.
Berkshire Hathaway Inc (Duracell) Holds The Largest Market Share
With an 8.82% market share in 2021, Berkshire Hathaway Inc (Duracell) was the largest competitor in the lithium primary battery market. Berkshire Hathaway's growth strategy focuses on strengthening its business operations through the launch of innovative solutions. For instance, in September 2020, the company, through its subsidiary, Duracell, planned to add a new bitter coating to its 2025, 2032, and 2016-sized lithium coin batteries. The new batteries with these coatings are designed with a bottom coating that reacts with saliva to release a bitter taste, discouraging young children from accidentally swallowing lithium coin batteries.
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