USD 23.79 Billion
Consumer Battery Market Size, Share, Growth Analysis, By Battery(Lithium-ion, Alkaline, Nickel-Metal Hydride, and others), By Application(Smartphones and Laptops to Electric Vehicles and Portable Electronics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45K2092 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
62
|Figures:
75
Consumer Battery Market Insights
Global Consumer Battery Market size was valued at USD 23.79 Billion in 2022 and is poised to grow from USD 25.33 Billion in 2023 to USD 42.23 Billion by 2031, at a CAGR of 6.6% during the forecast period (2024-2031).
Burgeoning sales of consumer electronics on a global scale and rapid digitization in all walks of life are projected to be key catalysts for consumer battery market growth over the coming years. High use of smartphones, wearables, laptops, and other portable electronic devices is also benefiting consumer battery demand. Increasing investments in the development of novel battery technologies and the rising popularity of rechargeable batteries are other focus-worthy trends that market players should watch out for. lithium-ion batteries are projected to spearhead global consumer battery sales outlook, in the long run, owing to their better energy density and versatility. The growing popularity of electric vehicles and the rising use of advanced consumer batteries in them are also slated to offer attractive growth opportunities for consumer battery companies going forward. Environmental concerns associated with battery manufacturing and disposal are projected to trouble consumer battery companies and limit market growth to a certain extent unless market players come up with sustainable battery solutions.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Alkaline
Fastest Growth
Alkaline
Growth Rate
6.6% CAGR
Global Consumer Battery Market by region
Country Share for Asia Pacific (%)
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Consumer Battery Market Segmental Analysis
The global consumer battery market can be segmented into key categories based on various factors such as battery, application, and region. Battery types commonly include lithium-ion, alkaline, nickel-metal hydride, and others, each catering to specific consumer needs. Applications cover a wide range, from smartphones and laptops to electric vehicles and portable electronics. Geographically, the market can be divided into regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Analysis By Battery
High use of alkaline batteries in household devices and toys has allowed it to maintain a prominent share of the global consumer battery market for now. Easy availability and cheap replacement have been key to the success of alkaline consumer batteries.
Lithium-ion battery popularity has skyrocketed in recent years owing to their high adoption in portable electronic devices for quite a while now. Surging use of lithium-ion batteries in electric vehicles around the world has opened up new avenues of opportunities for consumer battery suppliers and this is why lithium-ion battery demand is slated to rise at a robust pace in the long run.
Analysis By Application
The majority of consumer batteries are currently being utilized in consumer electronics and this is why portable electronic devices such as laptops, smartphones, wearables, and tablets account for a prominent consumer battery market share. The increasing proliferation of digital technology in different aspects of life allows consumer electronics applications to hold a significant market share.
Electrification of the automotive industry is here and this is projected to propel demand for batteries in electric vehicles over the coming years, which is why this application is projected to provide the fastest growth opportunities. Rising focus on sustainability, hike in fossil fuel prices, and the growing availability of novel electric vehicles are other factors that favor growth in this segment.
Global Consumer Battery Market by Battery Type
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Consumer Battery Market Regional Insights
The massive consumer population in the Asia Pacific region allows it to hold a dominant stance in the global consumer battery market. Increasing disposable income and growing sales of consumer electronics are forecasted to bolster sales of consumer batteries in this region. India, Japan, China, and South Korea are projected to be some of the most important markets in this region for all consumer battery suppliers. Rising production of electric vehicles and electronics in this region is also slated to uplift sales of consumer batteries in the Asia Pacific region going forward.
Growing demand for advanced battery technologies and increasing adoption of the same in different applications are projected to drive consumer battery market growth in developed regions such as North America and Europe over the coming years. Electric vehicles are projected to account for a sizeable chunk of consumer battery demand in European countries such as Germany and France by the end of the forecast period.
Global Consumer Battery Market by geography
- Largest
- Fastest
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Consumer Battery Market Dynamics
Drivers
- Increasing Demand for Portable Electronics: Smartphones, laptops, and other portable devices have become an essential part of the digital civilization, and powering them is not possible without batteries. Increasing digitization around the world is projected to bolster demand for consumer batteries in the long run.
- Growing Renewable Energy Storage: A high focus on sustainability is not just limited to reducing the carbon footprint but also utilizing renewable energy wherever we can. Batteries are essential in storing energy generated from renewable sources such as wind turbines, hydro turbines, and solar panels. Increasing adoption of residential and commercial renewable energy systems is slated to boost demand for consumer batteries to store their energy going forward.
- Advancements in Battery Technology: While batteries power most of our devices just fine, the need for optimization and making them better is not just yet done and this is why consumer battery companies are extensively investing in R&D to create novel battery technologies. Fast charging and better energy density are key prospects that consumer battery companies are focusing on as of now.
Restraints
- Environmental Concerns: Battery manufacturing is still a process that has a sizable carbon footprint and in this era of sustainability that plays against consumer battery companies. Moreover, improper disposal of non-rechargeable batteries can lead to contamination of the environment and worsen global climate issues. The tightening noose on battery manufacturing and disposal could also hurt the profitability of consumer battery market players.
- Supply Chain Disruptions: Consumer batteries are produced using several raw materials that are sourced from all over the world and any disruption to the supply chain could significantly hurt consumer battery demand. Moreover, fluctuations in prices of materials such as lithium, cobalt, graphite, etc. are also a threat to consumer battery companies.
- Safety Concerns: Consumer batteries are subject to strict safety regulations but the risk of overheating and explosion due to improper use is always present, which is what could inhibit consumer battery market growth in the future. Consumer battery manufacturers should focus on solving these safety concerns if they want to make it big in the marketplace.
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Consumer Battery Market Competitive Landscape
The global consumer battery market is projected to be highly competitive as market players focus on battery technology innovation to stay ahead of the curve. High investments in the research and development of new battery technologies with improved performance and fast charging are what most companies are doing in this marketplace. The creation of eco-friendly rechargeable batteries that comply with modern sustainability goals is what new companies and start-ups are projected to focus on. High saturation of different market players has led to price wars, which is resulting in the growing availability of affordable batteries for consumers thereby driving market growth. Strategic alliances, collaborations, and partnerships are also projected to be key strategies that consumer battery companies will be seen opting for in the future. Consumer battery suppliers can also collaborate with electric vehicle manufacturers to improve their sales and revenue generation scope as the popularity of electric vehicles increases on a global level.
Top Player’s Company Profiles
- Fujitsu Limited (Japan)
- Eveready Industries India Ltd. (India)
- Panasonic Corporation (Japan)
- Hitachi Maxell, Ltd. (Japan)
- Duracell Inc. (USA)
- Energizer Holdings, Inc. (USA)
- Renata SA (Switzerland)
- Sony Corporation (Japan)
- VARTA AG (Germany)
- Mitsubishi Electric Corporation (Japan)
- Samsung SDI Co., Ltd. (South Korea)
- Toshiba Corporation (Japan)
- BYD Company Limited (China)
- GP Batteries International Limited (Hong Kong)
- Saft Groupe S.A. (France)
- Eneloop Corporation (Japan)
- LG Chem Ltd. (South Korea)
- Sanyo Electric Co., Ltd. (Japan)
- Zhejiang Mustang Battery Co., Ltd. (China)
- EaglePicher Technologies LLC (USA)
Recent Developments
- In June 2023, Toyota Motor Corporation, a leading Japanese automotive company, announced its plans to launch new high-performance solid-state batteries for electric vehicles in 2026. The new batteries will allow users to have extended driving range on their EVs.
- In April 2023, Volkswagen, a leading automaker based in Europe, announced the expansion of its consumer battery recycling program that it had with Redwood Materials. This program offers consumers an easy way to recycle their batteries.
Consumer Battery Key Market Trends
- Lithium-ion Batteries for All: Long lifecycle, better energy density, and versatility for a multitude of applications make lithium-ion batteries a preferred choice in multiple industry verticals such as electronics, automotive, industrial, energy storage, etc. Investments in the advancement of lithium-ion battery technology will be crucial for consumer battery market growth.
- High Demand for Rechargeable Batteries: Rechargeable batteries are all the rage these days as they allow consumers to save their money and reduce the amount of batteries that end up in landfills or recycling centers. Changing consumer preferences and the growing adoption of rechargeable batteries by all types of consumers make rechargeable batteries a mainstay trend.
- Rise in Portable and Wearable Devices: The popularity of wearable and portable devices is on a high like never before and this is what is driving the demand for compact yet efficient consumer batteries. Consumer battery companies are continually focusing on offering small batteries for wearables and portable devices to make the most of the device miniaturization trend.
Consumer Battery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The consumer battery market is solidly backed by the rising demand for portable devices and consumer electronics, both of these factors are estimated to augment consumer battery sales in the future. Rising demand for new energy storage solutions for renewable energy applications and a growing number of electric vehicles are also projected to benefit market growth. Lithium-ion batteries will continue to dominate the market due to their superior energy density and longevity will allow lithium-ion batteries to hold a prominent sales share of the global marketplace in the future. While the opportunities for consumer battery companies are virtually limitless their business can be hampered by sustainability concerns and recycling issues in the long run and this is why addressing these issues should be a priority for market players. .
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 23.79 Billion |
| Market size value in 2031 | USD 42.23 Billion |
| Growth Rate | 6.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Consumer Battery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Consumer Battery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Consumer Battery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Consumer Battery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Consumer Battery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Consumer Battery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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