Lithium Batteries Industry: 2019 Growth Drivers, Restraints, Revenue & Market Demand Analysis
Growth in the primary batteries market in the historic period resulted from use of primary battery-powered devices in emergency situations and rising demand for environmentally-friendly batteries. Going forward, an increase in the number of portable medical devices in use and the increasing popularity of electronic toys will drive growth. Factors that negatively affected growth in the historic period were strict government regulations and the long life of rechargeable secondary batteries. Factors that could hinder the growth of this market in future are rising raw material prices and a shift in demand to secondary batteries.
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Increasing Use Of Portable Medical Devices – The recent growth of portable medical devices, that require frequent replacement of batteries, is expected to drive the growth of the primary batteries market. Portable medical devices are usually used by people with chronic conditions or the elderly to keep a check on health conditions such as blood sugar levels or blood pressure. Portable medical devices powered by primary batteries can be used where charging or continuous power supply is limited.
Increasing Popularity Of Battery-Powered Toys – Use of primary batteries such as alkaline batteries in electronic toys is expected to drive the market for primary batteries in the forecast period. Battery operated toys such as toy cars, dolls, robots and drones are becoming popular.
With environmentally-friendly batteries and use of primary battery-powered devices in emergency situations, the potential and scope for the global primary batteries market is expected to increase.
The Primary Batteries market is segmented into Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa, and China and the USA. Among these regions, Asia Pacific is the largest market for primary battery companies, accounting for about 34% of the global market. It was followed by Western Europe, North America and then the other regions. Going forward, Africa and Eastern Europe will be the fastest growing regions in this market. These will be followed by South America and the Middle East.
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