Global Coin Cell Batteries Market Insights
Global Coin Cell Batteries market was estimated to be USD 4,227.58 million in 2024 and is forecasted to grow at a CAGR of 5.2% during the forecast period of, 2024 – 2028. Rising use of portable electronic devices and growth of the micro battery market for wireless earbuds will propel the market for coin cell batteries market. Technological advancements in the electronics industry have led to a major boom in the market for coin cell batteries. Major giants such as LG and Samsung are glancing the micro battery market, since many TWS (True Wireless Stereo) device manufacturers are opting for button cells and there is a surge in demand for these devices globally.
Coin Cell battery is a coin sized cell that are used to provide power to the devices. Coin or button cell batteries have a low-self discharge, which implies they hold their charge for a long time providing them a longer shelf-life. The diameter of these cells ranges from 5mm to 25mm. They are diversly used ranging from watches to medical devices to automobile to electronics equipment such as electronic printers, backup power system for memory, electronic price tags, home electrical appliances, POS systems, sensors, personal security devices, calculators and many more. These cells are usually disposable primary cells but also come as rechargeable ones. The cathodes are made up of compounds such as carbon monofluoride, manganese dioxide, silver oxide, or others. The anodes on these cells are generally made with lithium or zinc.
Rising prices of lithium might hamper the market growth to some extent. Due to the increase in prices of lithium, the manufacturing costs have skyrocketed along with the quality of products being degraded. Coin cell batteries made of lithium garner the highest share of percentage in the batteries market and hence the high prices of lithium over time would restrict the coin cell batteries market to a certain extent.
Covid Impact on Coin Cell Batteries Market
The global coin cell batteries market grew at a substantial rate prior to the outbreak of the Covid-19 pandemic as coin cell batteries find vast applications in medical devices, automobiles, and other electronic devices. The advent of smart devices and their boom led to the growth in demand of coin cell batteries at a faster rate.
The explosive demand for lithium from the automobile industry and the supply chain disruptions due to the outbreak of the Covid-19 pandemic have led to a huge surge in the prices of lithium. According to S&P Global Platts data, Seaborne lithium carbonate prices gained 413% since the beginning of 2024 and are expected to remain high for some time now. Spurt in lithium prices soared the battery prices globally, thus impacting product sales during this period.
Governments across the globe have increased their efforts in slowing the contagion and regularizing their production and supply chains which would help recover economies. As the effect of the pandemic showed signs of slowing down, an increase in demand for coin cell batteries gained traction.
Global Coin Cell Batteries Market Report Coverage
Global Coin Cell Batteries Market is segmented by Type, product type, application, end-use, and Region. by type the market is segmented into Primary Batteries and Rechargeable Batteries. By product type, the market is segmented into L – Alkaline, S – Silver, P – Zinc-air, C – Lithium and Others. By application, the market is Watches, Medical Devices, Automobile and Others. By end use, the market is OEM and Retail. The report also covers the market size and forecasts for the Global Coin Cell Batteries Market in 28 countries across major regions.
| Report Attributes | Report Details |
| Study Timeline | 2016-2028 |
| Market Size in 2028 (USD Million) | 5,900.70 |
| CAGR (2024-2028) | 5.2 % |
| By Type | Primary Batteries, Rechargeable Batteries |
| By Product Type | L – Alkaline, S – Silver, P – Zinc-air, C – Lithium, Others |
| By Application | Watches
Medical Devices (Primary Battery, Secondary Battery) Automobile, Others |
| By End Use | OEM, Retail |
| By Geography | North America: U.S., Canada, Mexico
Europe: Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe Asia Pacific: China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific Latin America: Brazil, Argentina, Chile, Rest of Latin America The Middle East and Africa: GCC, Turkey, Israel, Rest of MEA |
Global Coin Cell Batteries Market Segmentation
Market Research Community provides extensive analysis of the size, share , major trends in each sub-segment of the Global Coin Cell Batteries Market, along with forecasts at the global, regional and country level from 2024-2028.
Primary Batteries Accounted for the Largest Market Share in Coin Cell Batteries Market
- Primary coin cell batteries are used extensively everywhere including watches, toys, medical and electronics devices.
- Several benefits such as lightweight, inexpensive, convenient to use, with good shelf life and high energy density are driving the growth of primary batteries in global coin cell batteries market.
Global Coin Cell Batteries Market Revenue (USD Million), by Primary Batteries, 2016-2028
C-lithium is Anticipated to Lead the Market By 60.58% Share in 2024
- High current offering and long life features are fueling the growth of C-lithium batteries. Lithium batteries can provide extremely high currents it accounted for 63.69% of all primary battery sales in Japan.
- Rapid discharge with short-circuit and rise in internal impedance and high self-discharge at high temperatures is restricting the market growth.
Global Coin Cell Batteries Market Revenue (USD Million), by C-Lithium, 2016-2028
Medical Devices is the Fastest Growing Application in Coin Cell Batteries Market
- Speedy changing technologies and digitalization in medical field has generated a massive demand for coin cell batteries.
- Surge in demand of blood glucose meter and insulin pumps with rise in number of cases of diabetes globally, according to International Diabetes Federation approximately 537 million adults are living with diabetes propelling the demand of coin cell batteries.
Global Coin Cell Batteries Market Revenue (USD Million), by Medical Devices, 2016-2028
OEM Segment is Estimated for 5.6% Growth Rate in Coin Cell Batteries Market
- OEM holds the largest share in the market owing to the factor that it provides battery with every device which lasts for 2 to 3 years and till that time the device also gets outdated, and customers buy new ones.
- Prevalence of smart devices OEMs are using rechargeable batteries with has increased the demand of rechargeable batteries and will drive the OEM segment in the future.
Global Coin Cell Batteries Market Revenue (USD Million), by OEM, 2016-2028
Asia Pacific is the Leading and Fastest Growing Region in Coin Cell Batteries Market
- Increased penetration of medical devices owing to growing number of diabetic patients. According to the World Health Organization, almost 10% of all adults in China (about 110 million people) currently have diabetes. In 2019, Malaysia accounted for 16.7% of population with diabetes, India 10.4%, China 9.2%, Thailand 7%, Indonesia 6.3%, Australia 5.6%, and Singapore 5.5%.
Asia Pacific Coin Cell Batteries Market Revenue (USD Million), 2016-2028
Asia Pacific Coin Cell Batteries Market Competitive Landscape:
The global coin cell batteries market studied is moderately competitive, with a considerable number of global and regional players. The key strategies adopted by these firms include product innovations, expansions, and mergers and acquisitions.
Key Players
- Panasonic Corporation
- Toshiba Corporation
- The Swatch Group Ltd
- Energizer Holdings, Inc.
- VARTA AG GROUP
- Murata Manufacturing Co., Ltd.
- Seiko Instruments Inc.
- Duracell Inc.
- Maxell, Ltd.
The market players are involved in adopting various strategies such as new product launches with enhancement as per regulations, partnerships, expansions, and research & development to grow their business and survive in the long run.
Recent Developments
- January 2020- The company acquired Europe-based VARTA Consumer Batteries business (VARTA Consumer), which focused on household batteries, from the US company Energizer Holdings, Inc., and integrated the new unit in the Household Batteries segment. This acquisition strengthens the brand profile of VARTA products across all segments
- January 2019- The Energizer Holdings, Inc. acquired Spectrum Brands Holdings, Inc.’s (Spectrum) global battery, lighting, and portable power business (Battery Acquisition) including the brands Rayovac.
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