Consumer Battery Market Forecasts to 2028 – Global Analysis By Type (Primary and Secondary), Battery Chemistry (Zinc Carbon Battery, Lithium-ion Battery and Other Battery Chemistry), Application (Power Tools, Toys, Personal Care Devices and Other Applicat

Consumer Battery Market Forecasts to 2028 – Global Analysis By Type (Primary and Secondary), Battery Chemistry (Zinc Carbon Battery, Lithium-ion Battery and Other Battery Chemistry), Application (Power Tools, Toys, Personal Care Devices and Other Applications), End User and Geography

According to Stratistics MRC, the Global Consumer Battery Market is accounted for $23.76 billion in 2022 and is expected to reach $38.97 billion by 2028 growing at a CAGR of 8.6% during the forecast period. Numerous consumer goods, including laptops, tablets, phones, cameras, and other gadgets, are powered by consumer batteries. Numerous battery chemistries, including lithium-ion, alkaline, zinc-carbon, nickel-cadmium, and nickel-metal hydride, may be used in these batteries. Moreover, depending on their chemistry and technology, they may be either disposable or rechargeable. In terms of toughness and power outputs, consumer batteries are different from industrial batteries.

According to a research by the Massachusetts Institute of Technology in March 2021, the cost of Li-ion batteries dropped by 97% since they were launched in 1991, making electric vehicles and energy storage commercially viable for the first time in history. According to Commonwealth Scientific and Industrial Research Organization (CSIRO) research conducted in the Australian sub-continent, only 2% of the country’s 3,300 tonnes of Li-ion battery waste is recycled.

Market Dynamics:

Driver:

Declining prices of raw materials to reduce costs and surge demand

The transition to a low-carbon energy system is taking place to cut back on greenhouse gas emissions worldwide. Due to tremendous cost reductions, renewable technologies are now competitive with fossil fuels in terms of price. However, to balance these sources and alter the transportation system, low-cost energy storage is necessary. Furthermore, lithium-ion batteries are the most often used battery kind. Due to their distinctive qualities, lithium-ion batteries have grown to be a significant source of power for manufacturers of consumer devices, with more and more units being created every year.

Restraint:

Awareness among people about harmful environmental effects

The majority of batteries sold nowadays are bad for the environment, which is anticipated to restrain market expansion during the anticipated time frame. If batteries are not properly disposed of or recycled, they might be dangerous. Most batteries today are disposed of in landfills, which increases the risk of explosions and prolongs environmental damage. Additionally, the chemical could leak and damage the soil for a long time. People are unaware that recycling batteries is not a popular practise. Consequently, it has a negative impact on the ecosystem. The global movement to get rid of dangerous materials from batteries, such mercury, cadmium, and lead, is still going strong. Guidelines that limit the use of dangerous components, including cadmium and lead, in products have already been adopted in some places.

Opportunity:

Increasing demand for household electronic devices

The world's population is earning more money, which enables people to invest more in housing and furnish their homes with cutting-edge technology. The majority of electronic devices that are utilised in homes and for personal use, like watches, tablets, laptops, cell phones, and remote controls, are rechargeable. To keep the product functioning longer, they want to store energy for a longer period of time. The introduction of cutting-edge household products to the market is likely to increase product consumption. Modern technology uses secondary batteries that can be recharged in devices like smart watches, power banks, grooming items, cell phones, and computers. Other items, including remote-controlled gadgets, need on primary batteries to operate. These home appliances all use consumer batteries. Therefore, a rise in these gadgets' sales contributes to a rise in market expansion.

Threat:

High-priced lithium-ion batteries

The process of making lithium-ion batteries can be quite pricey. These batteries' total production costs are roughly 40% greater than those of nickel-metal hydride batteries. The important metals are contained in the cells that make up a lithium battery pack's modules, which themselves contain modules that contain cells. It is possible but laborious to access these cells manually, and automation is required to process large amounts of data. With automakers rushing to produce electric vehicles, lithium costs have more than doubled in the past year.

Covid-19 Impact

During lockdowns, people were restricted to their houses because of the coronavirus outbreak. Remote schools and universities as well as work-from-home cultures have become very popular. Due to this, the use of mobile phones and computers throughout the time period skyrocketed. DIY projects among consumers have become more popular as a result of a shortage of labourers for household services like electricians, plumbers, and carpenters. This resulted in a rise in the use of battery-operated power tools. The widespread accessibility of these tools through online shopping channels accelerated their uptake. During the COVID-19 epidemic, these factors fuelled consumer battery demand.

The lithium-ion batteries segment is expected to be the largest during the forecast period

The lithium-ion batteries segment is estimated to have a lucrative growth, due to its capacity to weight ratio and additional characteristics like improved performance, a high energy density, and a declining price. Because of their special qualities, lithium-ion batteries, which are produced in billions of units annually, are the preferred power source for producers of consumer devices. Additionally, developments and rising investments in the industry are projected to boost the segment's expansion by enabling economies of scale and enhancing LIB's performance and pricing. Therefore, the lithium-ion batteries section is anticipated to experience the largest growth rate throughout the projection period due to greater wide-scale applications, performance, and declining battery prices.

The toys segment is expected to have the highest CAGR during the forecast period

The toys segment is anticipated to witness the fastest CAGR growth during the forecast period. Toys that run on batteries have many advantages. They are high-drain gadgets that require a lot of energy, so it's crucial to use the right batteries to get the most out of them. The best toys out of all the possibilities are difficult to choose, and finding the right batteries is also difficult. Batteries-powered toys are a favourite among children, whether they are fun, musical, interactive, or educational. They can develop their understanding, motor skills, inventiveness, and dexterity by playing with such toys. Such electrical gadgets need constant power to function properly. Toys that are powered by the proper batteries will be as effective, long-lasting, and useful as possible. Therefore, the aforementioned elements are fueling market expansion.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to policy-level support from the governments promoting the manufacturing sector, the Asia-Pacific region is home to numerous developing economies with abundant natural and human resources, such as China and India, which are anticipated to be major investment hotspots for battery companies in the upcoming years. One of the biggest markets for electric automobiles right now is China. As a result, the country's consumer battery market may be driven by the increase in sales of electric vehicles.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period. Consumer battery sales are primarily concentrated in the United States in North America. The growth of the consumer battery market in North America over the forecast period would be aided by rising disposable income and consumer electronics spending. Consumer battery sales will increase dramatically in the residential sector during the anticipated time frame. Leading manufacturers of consumer batteries have been investing in R&D projects to raise performance while lowering battery costs.

Key players in the market

Some of the key players profiled in the Consumer Battery Market include Duracell Inc., Suzhou South Large Battery Co., Ltd., TianJin Lishen Battery Joint-Stock Co., Ltd., VARTA AG, Renata Battery, Panasonic Corp., Maxell, Ltd., EVE Energy Co. Ltd., GP Industrial, Samsung SDI, FDK Corporation, LG Energy Solution, Murata Manufacturing Co., Ltd., PolyPlus and Energizer Holdings Inc.

Key Developments:

In August 2021, SEMCORP Group and EVE signed a Joint Venture Operating Agreement and a Supplementary Agreement. EVE and SEMCORP Group formed a joint venture that will merge their strengths, maximize their competitive advantages, and focus on producing low-cost, high-quality lithium-ion battery separators, and coating films.

In September 2021, EVE received patent certificates issued by the Korean Intellectual Property Office and Japan Patent Office. This patent provides a button-type lithium structure and sealing method, which improves the sealing and safety of the buttontype lithium battery. Also, exclusive rights play a vital role in increasing the global impact of EVE products and overseas business.

In November 2021, Tianjin Lishen Battery Co. Ltd signed an industrial project. In Wuxi Xishan, it is proposed to develop the Lishen new energy industry base and R&D center project. The Lishen new energy industry base and R&D center project investment is USD 1.75 billion (11.2 billion yuan), with a total land area of around 800 million square meters.

In October 2021, Maxell, Ltd. developed a coin-type all-solid-state battery with a sulfide-based solid electrolyte optimized for high voltage and high output. The battery achieves high voltage and output using a bipolar construction that uses all-solid-state battery properties.

In February 2021, Maxell, Ltd. achieved the highest capacity in the industry for cylindrical-type lithium manganese dioxide batteries with high energy density using its proprietary advanced electrode technology. Maxell’s cylindrical type CR battery is ideal for use as a power source in IoT devices.

Types Covered:
• Primary
• Secondary

Battery Chemistry Covered:
• Zinc Carbon Battery
• Lithium-ion Battery
• Alkaline Battery
• Nickel Metal Hydride
• Nickel Cadmium Battery
• Other Battery Chemistry

Applications Covered:
• Power Tools
• Toys
• Personal Care Devices
• Laptops
• Cameras
• Calculators
• Flashlights/Lamps
• Remote Controls
• Mobile Phones
• Hearing Aids
• Portable Power Banks
• Smoke Detectors
• Radios
• Security Devices
• Tablets
• Smart Watches
• Other Applications

End Users Covered:
• Commercial
• Residential
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements