Seattle, July 12, 2018 (GLOBE NEWSWIRE) — The global silver oxide battery market was valued at US$ 15.55 billion in 2017 and is projected to exhibit a CAGR of 3.0% over the forecast period (2018–2026).
Key Trends and Analysis of the Silver Oxide Battery Market:
Advantages of silver oxide batteries such as high operating voltage, flatter discharge curve, resistance to vibration, shock, and acceleration and availability in varying voltages and sizes is one of the major driving factors for growth of the global silver oxide battery market.
Applications of small button silver oxide batteries in digital and analog watches, calculators, toys and portable electronics is propelling growth of the global silver oxide battery market.
Furthermore, large customized silver oxide batteries are used in aerospace applications and military applications such as missiles, submarines, and torpedoes and this is also expected to support growth of the silver oxide battery market.
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Key Market Takeaways:
- The market is expected to exhibit a CAGR of 3.0% during the forecast period (2018–2025), and this is attributed to increasing demand for electronic products, globally. According to the Japan Electronics and Information Technology Industries Association’s estimates, production of the global electronics and information technology industry increased 2% year-on-year in 2016 from 2015 and increased 3% year-on-year in 2017 from 2016.
- Asia Pacific held market share of 32% in 2017 and is projected to retain its dominance throughout the forecast period
- This is attributed to growing demand for silver oxide batteries in China, India, and Japan. According to the Battery Association of Japan, sale of primary silver oxide battery by volume was 771 million in 2016, which increased to 850 million in 2017.
- Growing demand for consumer electronics is also contributing to growth of silver oxide battery market in Asia Pacific. According to India Brand Equity Fund (IBEF), Government of India, consumer electronics held highest market share of 29.7% in the total production of electronics goods in India. Furthermore, electronics market in India is projected to reach US$ 400 billion by 2020, according IBEF thereby driving growth of silver oxide battery market in India.
- Some of the major players operating in the global silver oxide market are Panasonic Corporation, Energizer Holdings, Maxwell Technologies, Inc., Seiko Instruments Inc., Berkshire Hathaway Inc., Sony Corporation, Toshiba Corporation, Renata SA, Camelion Battery, and Varta AG.
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