What will be the CAGR Value for Primary Lithium Battery Market in 2026? Fortune Business Insights
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Jan 22, 2021 (The Expresswire) —
Extensive applicability of lithium primary batteries for military purposes will mainly drive the global primary lithium battery market size during the forecast period. Lithium batteries are called primary because these batteries have metallic lithium as their anode. These batteries are non-rechargeable, have high energy density, and last for long time periods. Given their unusual properties, lithium metal batteries are finding rising demand from the defense sector, especially in the operation of Unmanned Aerial Vehicles (UAVs). UAVs that have gotten smaller in size as advancements have been directed towards making these devices undetectable. As a result, UAVs need to be installed with smaller lithium batteries that contain large amounts of power and can also function as power backups. For instance, lithium metal batteries can provide an efficient emergency recovery services using which the UAV can be landed safely in case of irreparable damage the device may suffer. Moreover, these cells insulate themselves from high internal temperatures, thereby removing the need put on extra layers of cover on the battery pack. Thus, the uptake of lithium metal batteries is rapidly rising in the military sector, making it one of the leading primary lithium battery market trends.
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Key Players Profiled in the Primary Lithium Battery Market Report:
- Tadiran Batteries GmbH
- Saft
- Energizer Holdings Maxell Holdings, Ltd.
- FDK Corporation
- Duracell Inc.
- Wuhan FANSO Technology Co. Ltd.
- EEMB Battery
- Toshiba Corporation
- Camelion Batterien GmbH
- Excell Battery Co.
- Panasonic
Market Restraint
Grave Threats Posed by Lithium Batteries to Stem Their Adoption
The primary lithium battery market growth may get thwarted due to the safety concerns surrounding the excessive usage and disposal of these batteries. For example, lithium batteries mainly contain lithium, which is a highly combustible metal. These batteries pack large amounts of energy in a small size, which heightens the possibility of fire and explosion from them. Owing to their potential for causing explosions, the Federal Aviation Administration (FAA) of the US strictly regulates the number of lithium battery-powered devices a person can carry while flying. Furthermore, disposal of lithium cells can have disastrous effects on the environment. Since almost every mobile electrical device contains lithium, the extent of damage caused by these batteries can be vast and irreversible. In response, bodies such as the European Union have put in place stringent regulations to monitor the production and disposal of lithium batteries in the region.
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Fortune Business Insights™ shares valuable market information in its new report, titled “Primary Lithium Battery Market Size, Share and Industry Analysis, By Application (Aerospace and Defence, Medical, Electronics, Others) and Regional Forecast, 2019-2026”. The highlights of the report include:
- 360-degree analysis of the market drivers and hindrances;
- Exhaustive study of the regional and competitive developments in the market;
- Comprehensive evaluation of all possible market segments; and
- Thorough evaluation of the future trends and opportunities in the market.
Competitive Landscape
Enhancement of Production Capacity to be the Key Focus of Market Players
Major players are mainly focused on enhancing and upgrading their existing production capacities, according to the primary lithium battery market analysis. Companies are achieving this through setting up of new production facilities and acquisition activities.
Key Segmental Overview:
1. By Application
- Aerospace and Defence
- Medical
- Electronics
- Others
2. By Geography
- North America (U.S. and Canada)
- Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East and Africa (South Africa, GCC, and Rest of the Middle East and Africa)
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Regional Analysis
Escalating Demand for Electronics to Propel the Market in Asia-Pacific
Among regions, Asia-Pacific is poised to dominate the primary lithium market share during the forecast period on account of rising disposable income in the region, which is fuelling the demand for consumer electronics. In addition to this, increasing military spending in India and China will further drive the growth of the market in the region. In North America, growing focus on developing efficient battery technologies and active government support will augment the potential of the market. On the other hand, the market in Latin America will be primarily driven by the increasing intensity of mining activities for lithium in Chile, Argentina, and Brazil.
Industry Developments:
- May 2019: The Chinese lithium battery manufacturer, Wuhan FANSO Technology Co., Ltd., inaugurated its new lithium manganese battery production facility. The base will be fully automated and will be capable of mass production of lithium manganese soft-battery packs.
- December 2018: Energizer Holdings, the American batteries manufacturer, announced that they have received approval from the European Commission for their proposed takeover of Spectrum Brands Holdings’ battery and portable lighting division. The divesture process would give Energizer rights to Spectrum’s Rayovac® consumer and hearing aid battery line-up as well as ramp up its own manufacturing and distribution capabilities in Europe.
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Major Table of Content For Primary Lithium Battery Market:
- Introduction
- Executive Summary
- Market Dynamics
- Key Insights
- Global Primary Lithium Battery Market Analysis, Insights and Forecast, 2026
- North America Primary Lithium Battery Market Analysis, Insights and Forecast, 2026
- Europe Primary Lithium Battery Market Analysis, Insights and Forecast, 2026
- Asia Pacific Primary Lithium Battery Market Analysis, Insights and Forecast, 2026
- Middle East and Africa Primary Lithium Battery Market Analysis, Insights and Forecast, 2026
- Latin America Primary Lithium Battery Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
- Conclusion
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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