The global silver oxide battery market was valued at US$ 15.55 Billion in 2017, according to Silver Oxide Battery Market Report, by Application (Toys, Medical Equipment, Electronics, and Others). The global silver oxide battery market is projected to reach US$ 15.55 Billion by 2025, exhibiting a CAGR of 3% during the forecast period. Properties of silver oxide batteries such as high volumetric energy density and its ability for delivering energy at relatively high current drains is leading to increasing demand for silver oxide batteries especially in miniature devices thereby driving growth of the global silver oxide battery market.
Increasing demand for batteries in electronic devices such as watches, calculators, and medical equipment is propelling growth of this market. According to ’ study, market for batteries used in medical devices and equipments is projected to surpass US$ 3.5 billion by 2025 thereby, supporting growth of this market. Advantages of silver oxide batteries as compared other energy cells is driving growth of this market. For instance, it has higher operating voltage as compared to mercury batteries, flatter discharge curve as compared to alkaline batteries, more run time, and free from flammability problems and thermal runaway as compared to lithium ion batteries.
To know the latest trends and insights prevalent in this market, click the link below:
Browse 150 market data tables* and 90 figures* on "Silver Oxide Battery Market” - Global forecast to 2025.
Key Trends and Analysis of the Silver Oxide Battery Market:
- Electronics application segment held a significant market share in 2017 in the global silver oxide battery market. Silver Oxide batteries are used in electronic equipment, which requires small and compact power sources thereby, fuelling the market growth.
- According to the Japan Electronics and Information Technology Industries Association’s estimates, a Japanese trade organization for the electronics and IT industries, production of the global electronics and information technology industry increased 2% year-on-year in 2016 from 2015 to US$ 2,610 billion in 2016 and increased 3% year-on-year in 2017 from 2016 to US$ 2,680 billion in 2017.
Key Takeaways of the Market:
- North America held significant market share in 2017 in the global silver oxide battery market. This is attributed to growing demand for silver oxide batteries in aerospace, missiles, and medical devices such as glucometers, hearing aids, and digital thermometers.
- According to ’ study, North America held major market share in the global hearing aids market and was valued at US$ 3,563 million in 2016, which in turn is fueling growth of the silver oxide market in this region.
- Large customized silver oxide batteries are used for aerospace and defense applications owing to its high performance capability. In 2016, aerospace and defense sector generated US$ 872.1 billion in sales in the U.S. according to the Aerospace Industries Association (AIA), a trade association, thereby supporting growth of the silver oxide batteries in the U.S.
- Europe is a lucrative silver oxide batteries market with significant demand from various application segments such as toys, medical equipment, and others. Germany, France, and the U.K. were the major contributors to growth of this market in Europe.
- According to the Toy Industries of Europe (TIE), a trade association of the European toy industry, sales value of toys in Europe in 2015 was US$ 19.32 billion, which increased to US$ 21.08 billion in 2016, thereby supporting growth of the silver oxide battery market in Europe.
- Major players operating in the global silver oxide battery market includes Panasonic Corporation, Energizer Holdings, Maxwell Technologies, Inc., Seiko Instruments Inc., Berkshire Hathaway Inc., Sony Corporation, Toshiba Corporation, Renata SA, Camelion Battery, and Varta AG.