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Consumer Battery Market Size, Share & COVID-19 Impact Analysis, By Type (Primary, Secondary), By Battery Chemistry (Alkaline Battery, Zinc Carbon Battery, Lithium-ion Battery, Nickel Cadmium Battery, Nickel Metal Hydride, and Others), By Application (Personal Care Devices, Flashlights/Lamps, Power Tools, Mobile Phones, Toys, Remote Controls, Cameras, Tablets, Portable Power Banks, Hearing Aids, Radios, Security Devices, Laptops, Smoke Detectors, Smart Watches, Calculators, and Others), and Regional Forecast, 2022-2029

Region : Global | Format: PDF | Report ID: FBI105526

 

KEY MARKET INSIGHTS

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The global consumer battery market size was valued at USD 22.15 billion in 2021. The market is projected to grow from USD 23.76 billion in 2022 to USD 37.07 billion by 2029, exhibiting a CAGR of 6.6% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with consumer battery experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global consumer battery market exhibited a slow growth of 5.3% in 2020 as compared to 2019.


Consumer battery powers various consumer products such as laptops, tablets, phones, cameras, and other tools. These batteries may have multiple chemistries such as lithium-ion, alkaline, zinc-carbon, nickel-cadmium, and nickel-metal-hydride. Furthermore, they can be rechargeable or disposable, based on their chemistry and technology. Consumer batteries differ from industrial batteries in terms of ruggedness and power outputs.


COVID-19 IMPACT


Increase in Use of Battery-powered Electronics During Pandemic Enhanced Adoption of Consumer Battery


Due to the spread of coronavirus, people were confined to their homes during lockdowns. There was a massive adoption of work-from-home culture and remote schools and colleges. This led to an increased usage of laptops and mobile phones during the period. Due to a crunch in the available labor force for residential services, such as electricians, plumbers, and carpenters, Do-It-Yourself (DIY) projects among consumers gained attraction. This led to an increased adoption of battery-powered power tools. High availability of these tools through online retail platforms further fueled their adoption. These factors propelled the demand for consumer battery during the COVID-19 pandemic.


LATEST TRENDS


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Technological Advancements to Enhance Growth Opportunities for Market Development


Introducing products with evolving technology attracts people and makes their life easier and more productive. This is anticipated to create a crucial market and industry growth opportunity, allowing businesses to grab more customers and meet increasing demand.


Manufacturers are focusing on delivering connected devices (smart homes) with the adoption of IoT devices, and popularity of smart and connected products is growing. Technology advancements and the adoption of wireless networking techniques result in developing smart and connected tools. The manufacturing of smart and wireless connected devices is increasing, using batteries to run their products. This seems to be a good opportunity for the market to grow over the forecast period.


For example, technological improvements, constant expansion of robotic cleaners, and smart devices, such as smartwatch and remotes, are anticipated to impact the market positively. Furthermore, the demand for battery-powered and cordless devices in household equipment is the primary factor driving the consumer battery market growth.


DRIVING FACTORS


Decreasing Prices of Raw Materials to Reduce Costs and Surge Demand


There is a shift to a low-carbon energy system to reduce global greenhouse gas emissions. Renewable technologies have become cost-competitive with fossil fuels due to significant cost reductions. However, low-cost energy storage is required to balance these sources and transform the transport network. Further, lithium-ion is the most widespread type of battery in use.


Lithium-ion batteries have become an important power source for consumer electronics makers, with more and more units produced each year due to their unique features. Consumer battery demand from consumer devices has historically fueled the lithium- ion market.


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. A lithium-ion battery is made up of different parts. The cell is the most costly part of every lithium-ion battery. Electronics, assembly, and packaging constitute the remainder. A lower price would surge the use of these batteries in a variety of new applications, boosting the market growth.


Increasing Demand for Household Electronic Devices to Propel Consumer Battery Demand


The income of the world’s population is rising, allowing people to spend more on housing and equip their homes with upcoming technological goods. Most electronic devices used in household and personal activities, such as smartphones, tablets, laptops, watches, and remotes, are rechargeable. They intend to hold energy for a longer duration to keep the product running longer.


Introducing innovative household products in the market is likely to boost product consumption. Latest technological advancements, such as the introduction of smartwatches, power banks, grooming products, smartphones, and laptops, use secondary batteries that are rechargeable. Other products, such as remote-controlled devices, work on primary batteries. All these household devices use consumer batteries. Thus, increase in the sales of these devices leads to an increase in market growth.


During the pandemic, more and more people settled into their routines and looked to automate their home appliances to make their homes smart. For a pure battery-powered application, long battery life is essential. Therefore, strong growth of the market is projected in the forthcoming years.


RESTRAINING FACTORS


Increasing Awareness Among People About Harmful Environmental Effects of Improper Recycling Might Hinder Market Growth


Most batteries on the market are harmful to the environment, which is expected to limit the market's growth over the projected period. Batteries are hazardous if they are not disposed of or recycled correctly. Today, most of the batteries end up in landfills, which can cause explosions or prolong land damage. Also, the chemical may leak and pollute the soil for an extended period.


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. Battery recycling is not in trend, and people are unaware of this. Hence, it has an adverse effect on the environment.


The growing global momentum to eliminate hazardous compounds from batteries, such as mercury, cadmium, and lead, is ongoing. Certain regions, such as Europe, have already passed guidelines that restrict the use of hazardous components, such as cadmium and lead, in batteries based on expanding awareness of the detrimental effects of batteries.


SEGMENTATION


By Type Analysis


Primary Battery Segment to Hold Significant Consumer Battery Market Share Owing to High Adoption


Based on type, the market is segmented into primary and secondary. The primary segment is the dominant segment in the market as at present, most small home equipment uses non-rechargeable batteries as a source of energy.


During the forecast period, the secondary segment is expected to grow its market presence with the lowering prices of lithium, which is generally used in rechargeable batteries. Also, with the latest technological advancement, the usage of cordless devices, which run on rechargeable battery is anticipated to grow over the forecast period.


By Battery Chemistry Analysis


Alkaline Battery Segment to Dominate the Market Due to Low Cost


Based on battery chemistry, the market is segmented into alkaline battery, zinc-carbon battery, lithium-ion battery, nickel cadmium battery, nickel metal hydride, and others.


The alkaline battery segment is dominant in the market due to its high adoption in many household items, such as MP3 players, remotes, digital cameras, toys, flashlights, and radios. The existence of these devices will have equal importance in day-to-day life during the projection period.


Since the introduction of Li-ion batteries in the 1990s, there has been a reduction in their price up to 97% from the time when they were first commercially introduced, according to a research conducted by MIT researchers. The cost of rechargeable lithium-ion batteries used for phones and laptops has fallen dramatically over the last three decades. It has been a significant driver of the rapid growth of the lithium-ion battery segment.


By Application Analysis


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Power Tools Segment to Proliferate Due to Rising Residential DIY Projects


By application, the market is segmented into personal care devices, flashlights/lamps, power tools, mobile phones, toys, remote controls, cameras, tablets, portable power banks, hearing aids, radios, security devices, laptops, smoke detectors, smart watches, calculators, and others.


Power tools, personal care devices, and flashlights/lamps use most consumer batteries among the applications covered. These devices use a primary (non-chargeable) consumer battery due to ease of use, high specific energy, long storage times, and instant readiness to power.


Power tools are expected to grow with the highest CAGR; in the residential sector, DIY demand increased as the pandemic forced people to stay home and spend time upgrading gardens and landscaping activities.


REGIONAL INSIGHTS


Asia Pacific Consumer Battery Market Size, 2021 (USD Billion)

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The market has been analyzed across five key regions, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific dominated the consumer battery market share in 2021 and is anticipated to be a market leader over the forecast period. The region has countries, such as China, India, and Malaysia, where many consumer battery manufacturing companies are located, and this region also has good metal resources. Furthermore, China is the largest hub from which electronics goods running on consumer batteries have been exported.


Europe holds the second largest market share as it imports many primary batteries/cells, according to the trade map from the International Trade Center. With increasing demand and to make the region self-reliable, foreign investment has recently been witnessed. Germany has been enticing investments from other countries worldwide to develop lithium-ion battery manufacturing facilities. For instance, in May 2019, a Chinese lithium battery manufacturer, Farasis Energy, announced investing USD 674 million to build a lithium-ion battery manufacturing plant in Germany.


The consumption of electronic gadgets, such as mobile phones, and laptops, is increasing significantly across North America, creating huge battery demand. According to Ericsson’s 2020 Mobility Report, North America is expected to increase the commercialization of 5G mobile phones at a rapid pace. By 2026, Ericsson forecasts that 80% of North American mobile subscriptions will be 5G, the region's highest level globally.


The Middle East & Africa market is anticipated to progress at a moderate growth rate during the forecast timeframe. The market in the region is being propelled by decreasing lithium-ion battery prices and rising sales of portable electronic devices in the region. According to 2020 World Bank Data on mobile cellular subscriptions (per 100 people), the total number of active mobile subscriptions in the UAE was estimated to be 186, more than twofold that in India. This is expected to drive the market.


Due to the falling lithium-ion battery prices, the Latin American market is expected to grow with a healthy CAGR during the forecast period. According to the U.S. Geological Survey (USGS) Mineral Commodity Summaries, January 2022, lithium is one of the most abundant resources in the region. The region accounts for roughly 55–60% of the global lithium resources. Identified lithium resources worldwide are about 89 million tons, distributed across South America in Bolivia, 21 million tons; Argentina, 19 million tons; and Chile, 9.8 million tons.


KEY INDUSTRY PLAYERS


Panasonic Corp., Samsung SDI, and Energizer to Lead Market by Increased Mergers & Acquisition Efforts


The current market for consumer battery is dominated by many large numbers of key players providing a wide range of products at local and global levels. Numerous companies are actively operating across different regions to cater to customers' specific demands. During the fourth quarter of fiscal year 2020, Energizer agreed with FDK Corporation to acquire its subsidiary PT FDK Indonesia, a battery manufacturing facility.



  • In October 2020, Energizer completed the acquisition for a contractual purchase price of USD 18.2. The acquisition of the FDK Indonesia facility increased the company's alkaline battery production capacity.


Other players operating in the global market are Duracell, Renata AG, Tianjin Lishen Battery Joint-Stock Co., Ltd., EVE Energy, PolyPlus, Suzhou South Large Battery Co., Ltd., and FDK Corporation.


LIST OF KEY COMPANIES PROFILED:



  • Panasonic Corp. (Japan)

  • Duracell Inc. (Belgium)

  • EVE Energy Co. Ltd. (China)

  • TianJin Lishen Battery Joint-Stock Co., Ltd. (China)

  • Renata Battery (Switzerland)

  • Suzhou South Large Battery Co., Ltd. (China)

  • PolyPlus (U.S.)

  • Maxell, Ltd. (Japan)

  • Samsung SDI (South Korea)

  • VARTA AG (Germany)

  • GP Industrial (Singapore)

  • LG Energy Solution (South Korea)

  • FDK Corporation (Japan)

  • Murata Manufacturing Co., Ltd. (Japan)

  • Energizer Holdings Inc. (U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • 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.

  • 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 button-type lithium battery. Also, exclusive rights play a vital role in increasing the global impact of EVE products and overseas business.

  • 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.

  • 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.

  • 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.


REPORT COVERAGE


An Infographic Representation of Consumer Battery Market

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The research report comprehensively assesses the global market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information of the market segments, helping our readers get a comprehensive global industry overview. 


REPORT SCOPE & SEGMENTATION















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD Billion)



Segmentation



By Type



  • Primary

  • Secondary



By Battery Chemistry



  • Alkaline Battery

  • Zinc Carbon Battery

  • Lithium-ion Battery

  • Nickel Cadmium Battery

  • Nickel Metal Hydride

  • Others



By Application



  • Personal Care Devices

  • Flashlights/Lamps

  • Power Tools

  • Mobile Phones

  • Toys

  • Others

  • Remote Controls

  • Cameras

  • Tablets

  • Portable Power Banks

  • Hearing Aids

  • Radios

  • Security Devices

  • Laptops

  • Smoke Detectors

  • Smart Watches

  • Calculators


 



By Region



  • North America (By Type, By Battery Chemistry, By Application, By Country)

    • U.S.

    • Canada



  • Europe (By Type, By Battery Chemistry, By Application, By Country)

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Rest of Europe



  • Asia Pacific (By Type, By Battery Chemistry, By Application, By Country)

    • China

    • India

    • Japan

    • Australia

    • South Korea

    • Indonesia

    • Malaysia

    • Singapore

    • Thailand

    • Vietnam

    • Philippines

    • Rest of Asia Pacific



  • Latin America (By Type, By Battery Chemistry, By Application, By Country)

    • Brazil

    • Mexico

    • Argentina

    • Venezuela

    • Rest of Latin America



  • Middle East & Africa (By Type, By Battery Chemistry, By Application, By Country)

    • Saudi Arabia

    • UAE

    • Qatar

    • Kuwait

    • Egypt

    • Algeria

    • Nigeria

    • South Africa

    • Rest of Middle East & Africa





Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 22.15 billion in 2021 and is projected to reach USD 37.07 billion by 2029.

In 2021, the Asia Pacific market value stood at USD 8.10 billion.

The market is growing at a CAGR of 6.6% and will exhibit steady growth over the forecast period (2022-2029).

The primary segment is anticipated to hold a significant market share across all types and will dominate the market during the forecast period.

Increasing urbanization across regions is the key factor driving market growth.

Panasonic Corp, Samsung SDI, and Energizer are the key participants operating in the market.

Asia Pacific dominated the market in terms of share in 2021.

Most electronic devices used in household and personal activities, such as smartphones, tablets, laptops, watches, and remotes, are battery-powered. The rise of the adoption of these devices is anticipated to drive the market.

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