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Global Consumer Batteries Market to Reach $52.6 Billion by 2026

Battery is a single cell or a collection of cells encased in continuity, having terminals that produce electricity from chemical energy. It is a stand-alone power source that provides electrical energy without a generator, power socket or a cord. The two electrodes, namely the negative and the positive, allow the current flow while an electrolyte chemically acts on them as conductor of electrons. They are connected outside by copper wire in external circuit. Demand for batteries in the consumer market comes from the need to power various consumer electronic applications, such as home electronics, mobile devices, hearing aids, video game controls, cordless phones, camcorders, and cameras among others. The global market for consumer batteries is witnessing high degree of dynamism due to strong impetus provided by various factors such as increasing disposable incomes and robust demand from consumer electronics industry. Consumer electronics products are experiencing growing popularity globally due to continuous technological advances and declining unit prices. In addition, factors such as rising purchasing power and average spending along with improving living standards across developing countries are significantly contributing to growth of the consumer electronics industry.

Amid the COVID-19 crisis, the global market for Consumer Batteries estimated at US$44.3 Billion in the year 2022, is projected to reach a revised size of US$52.6 Billion by 2026, growing at a CAGR of 4.2% over the analysis period. Primary Alkaline Batteries, one of the segments analyzed in the report, is projected to grow at a 3.3% CAGR to reach US$13.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Primary Zinc Carbon segment is readjusted to a revised 1.1% CAGR for the next 7-year period. This segment currently accounts for a 5.8% share of the global Consumer Batteries market.

The U.S. Market is Estimated at $11.8 Billion in 2022, While is Forecast to Reach $10.3 Billion by 2026

The Consumer Batteries market in the U.S. is estimated at US$11.8 Billion in the year 2022. The country currently accounts for a 27.04% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$10.3 Billion in the year 2026 trailing a CAGR of 6.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR while Rest of European market (as defined in the study) will reach US$10.7 Billion by the end of the analysis period. Developed regions including the US, Canada, Japan and Europe constitute the primary revenue contributors to the worldwide consumer batteries market. Wider use of portable consumer electronics in the form of smartphones, tablets, laptop PCs and wireless CE accessories such as headphones, driven by strong inclination towards modern lifestyles and higher consumer affluence, widened the scope and span of consumer batteries market in the US and other developed world. On the other hand, developing regions including China, Asia-Pacific, Latin America, the Middle East and Africa are projected to exhibit faster CAGR over the analysis period. In the developing world, improved levels of consumer spending due to increasing disposable income would fuel sales of high-drain electronic devices such as personal computers and mobile phones, which in turn is likely to boost demand for both types of replacement batteries.

Primary Lithium Segment to Reach $5 Billion by 2026

Primary lithium batteries offer high performance in a range of temperatures, and a low rate of self-discharge enabling continuous delivery of voltage. Primary lithium batteries are used as a substitute to a host of other batteries, such as zinc-carbon, manganese-alkali, and zinc-silver oxide, due to their improved performance. Primary lithium batteries are also available in numerous form factors, such as coin, cell, prismatic and film. In the global Primary Lithium segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3 Billion will reach a projected size of US$3.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$668.8 Million by the year 2026, while Latin America will expand at a 4% CAGR through the analysis period.