Silver oxide battery consists of silver oxide as positive electrode and zinc as negative electrode. It contains potassium hydroxide or sodium hydroxide as electrolyte. Silver oxide battery is widely used across globe, owing to its durability and high energy weight ratio.
Global silver oxide battery market was valued at US$ 18.3 Billion in 2022, exhibiting a CAGR of 4.34% during the forecast period (2023 to 2030).
Global Silver Oxide Battery Market- Drivers
Growing demand for silver oxide battery in various electronic appliances
Silver oxide battery are used broadly due to its high energy weight ratio and durability. It is usually used as scaled down power source. Button silver oxide batteries are generally used in calculators, watches, toys, photo- electric exposure gadgets, and hearing aids. Batteries, big in size, are used in submarines, rockets, aviation, and underwater applications. Button silver oxide batteries are used in computerized and simple watches, and this is expected to boost demand for silver oxide battery in the global market.
These batteries are used as miniature power source. Big batteries are used in missiles, submarines, aerospace, and underwater applications. Silver oxide battery has advantages such as high capacity, low shelf discharge, and long shelf-life, and this is a major factor in driving growth of the global silver oxide battery market.
Figure 1. Global Silver Oxide Battery Market Value Share (%), By Region, 2022
Global Silver Oxide Battery Market- Restraints
High cost of silver
High cost of silver in the silver oxide battery is a major factor that is negatively affecting growth of the global silver oxide battery market.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2022: | US$ 18.3 Bn |
| Historical Data for: | 2017-2021 | Forecast Period: | 2023 |
| Forecast Period 2023 to 2030 CAGR: | 4.34% | 2030 Value Projection: | 2023-2030 |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
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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| Growth Drivers: |
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| Restraints & Challenges: |
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Global Silver Oxide Battery Market- Trends
Silver oxide battery benefits include flatter curve of discharge battery, increased operating voltage, shock resistant, resistance to vibration, availability of various size and voltages, and this are the key driving factors for development of the global silver oxide battery market. Increasing popularity of electronic wearables is expected to boost development of the silver oxide battery market.
Small button silver oxide battery has application in digital and analog watches, calculators, toys, and portable electronics, and this 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.
Figure 2. Global Silver Oxide Battery Market Value Share (%), By Application, 2022
Regional Analysis
North America held significant market share in the global silver oxide market in 2022. The U.S. was a major contributor to market growth in this region. This is owing to increasing focus of key players in the region on development of new products.
Global Silver Oxide Battery Market- Impact of Coronavirus (Covid-19) Pandemic
Outbreak of the COVID-19 pandemic in 2020 had a negative significant impact on the growth of global silver oxide battery market, owing to decreased usage of toys, medical equipment and electronics during pandemic, and this negatively affected global silver oxide battery market.
Global Silver Oxide Battery Market- Recent Developments
Global Silver Oxide Battery Market- Competitive Section
Major players operating in the global silver oxide battery market include Panasonic Corporation, Energizer Holdings, Maxwell Technologies, Inc., Seiko Instruments Inc., Berkshire Hathaway Inc., Sony Corporation, Toshiba Corporation, Renata SA, Camelion Battery, and Varta AG.
Silver oxide battery is composed of zinc and silver oxide, and it is also called silver-zinc battery. Silver oxide battery have good shelf life, stable discharge voltage, and operates over a broad temperature range. It is commonly used in calculators, film cameras, watches, medical instruments, cash registers, onboard microcomputers, measuring instruments, and sensors. Silver oxide battery has a broad array of application in electronic devices and appliances, and this is a major factor that is expected to drive growth of the global silver oxide market. However, high cost of raw materials such as silver is expected to hinder growth of the global silver oxide market.
Market Dynamics
Small silver oxide batteries are used in low power LCD (Liquid Crystal Display) watches, calculator displays, and cameras. Big silver oxide batteries are used in military and aerospace applications, owing to its high performance such as excellent tolerance for high current load. According to the Federation of the Swiss Watch Industry, Asia Pacific generated one-half of export sales of Swiss watches in 2022, and was a major growth driver for Swiss watches, and this is expected to drive silver oxide battery market growth in this region, as silver oxide batteries are used in analogue and digital watches.
Advantages of silver oxide batteries include high operating voltage, flatter discharge curve, resistance to vibration, shock resistant, and availability in varying voltages and sizes is one of the major factor that is expected to drive global silver oxide battery market growth. Applications of small button silver oxide batteries in digital and analog watches, calculators, toys, and portable electronics is also 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 boost global silver oxide battery market growth.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
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