The global coin cell batteries market was valued at USD 4,184.3 Million in 2019 and is projected to reach USD 4,376.4 Million by 2027, expanding at a CAGR of 0.56% during the forecast period. Coin cell is an ideal battery for powering small electronic devices such as wristwatches, pocket calculators, and toys, owing to its high capacity and composition.
This battery is used for holding the main system settings while the device is switched off. This battery delivers power to a system clock for the computer to remember the time after being turned off. Coin cell batteries are light in weight, small in size, fairly safe, and have a long shelf life.
Coin cell batteries are used in computers and gaming devices for powering the real-time clock and CMOS memory. The batteries have an expected life of three years while the computer is not plugged into a wall socket and the standby power from the power supply increases the life of the battery when the computer is plugged into a wall socket.
Moreover, coin cell batteries are used in computers and gaming devices for storing data when the device is powered off. The growth of the computer gaming devices market is expected to drive the demand for coin cell batteries during the forecast period, as coil cell batteries are used in computer gaming devices for power supply. The global computer gaming market was valued at USD 35.3 billion in 2019 and the market grew by 4.5% in 2020.
COVID-19 had a positive impact on the global computer and gaming devices market. People required different ways to keep themselves occupied, as all economic activities slowed down. Hence, the gaming industry grew rapidly among the home entertainment segment.
Coin cell batteries are used in portable devices and electronic equipment including laptops and wristwatches. Increasing use of small gadgets and convenient devices boosted the use of coin cell batteries, as these small gadgets need small batteries to fit in the devices. Coin cell batteries are gaining popularity, owing to the increased use of compact electronic devices.
The sale of CR coin cell batteries increased by 10% from 2017 to 2018. Coin cell batteries are hugely popular for use in devices such as car keys, calculators, Fitbit, remote controls, digital scales, digital thermometers, and electronic games such as Hexbugs.
Increasing popularity of video and audio broadcasting, growing disposable income, and growth in e-commerce for consumer electronics are some of the major factors, which are driving the demand for electronic products. The electronic products industry grew from 2% in 2019 to 6% in the first quarter of 2021. The growth of the electronic product industry is expected to drive the demand for coin cell batteries, as these batteries are extensively used in electronic products such as remote controls, electronic games such as Hexbugs, digital scales, watches, Fitbit, and digital thermometers for reliable power supply along with long shelf life.
Coin cell batteries are used in smart devices for long-lasting power. Moreover, the long life expectancy of coin cell batteries is one of the major factors responsible for the successful merging of the devices and internet. Growing demand for smart devices is expected to boost the demand for coin cell batteries during the forecast period.
In terms of types, the coin cell batteries market is segmented as LR (Alkaline), SR (Silver Oxide), CR (Lithium), ZnAir, and others. The SR (Silver oxide) segment held 29.8% share of the market in 2019, owing to its voltage stability, high quality, and reliability in applications such as electronic devices.
The CR (Lithium) segment is anticipated to expand at a considerable CAGR during the forecast period, owing to increasing demand for medical devices. CR (Lithium) batteries are used in medical devices such as blood-pressure meter and blood-glucose meter, as the batteries have long shelf life, self-discharge property, and are temperature-resistant.
Based on sales channels, the market is divided into OEM, retail, and others. The retail segment accounted for a significant share of the coin cell batteries market in 2019.
Steady demand for products such as toys, wristwatches, pocket calculators, and smart watches from retail stores is expected to drive the demand for coin cell batteries from the retail segment. These batteries are used extensively in products and are replaceable, which makes it easy to use. Toys and wristwatches run on coin cell batteries, which is expected to hold a key share of the total revenue in retail. However, in recent years, demand for wristwatches, especially Swiss watches, decreased significantly. This affected the market growth since past few years.
In terms of regions, the global coin cell batteries market is segregated into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
North America is bifurcated into the US and Canada. Demand for coin cell batteries is high in the region, due to increased focus on digitization of products and services. Rising adoption of consumer electronic products is driving the demand for coin cell batteries in the region, as the batteries provide reliable power supply along with long shelf life. Revenue from consumer electronic products in the US is expected to grow at a CAGR of ~4.24% during 2021-2025, resulting in an expected market volume of around USD 88,393 million by 2025.
Some frequently asked quetions about this report!
Additional company profiles are provided on request.
Yes, the report covers types of coin cell batteries such as LR (Alkaline), SR (Silver Oxide), CR (Lithium), ZnAir, and others.
According to this report, the coin cell batteries market is expected to register a CAGR of 0.56% during the forecast period 2020-2027, with an anticipated valuation of USD 4,376.4 million by the end of 2027.
In addition to market size (in USD Million) and company market share (in % for base year 2019), other data such macro-economic factors and COVID-19 impact on the coin cell batteries market is available in the final report.
The coin cell batteries market is anticipated to grow significantly during the forecast period, due to increasing demand for coin cell batteries in gaming devices, electronic devices, and smart appliances.
Lucrative growth of smart electronics and electronic toys, especially in Asia Pacific, is expected to fuel the market over the forecast period.
The base year considered for the global coin cell batteries market report is 2019. The complete analysis period is 2017 to 2027, wherein 2017 & 2018 are the historic years, and the forecast period is provided from 2020 to 2027.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to grow at a moderate rate in terms of demand during 2019-2020, owing to the impact of COVID-19 pandemic on the coin cell batteries market.
Major market players include BeStar Electronics Co., Ltd , Camelion Batteries GmbH, Duracell Inc., Energizer Holdings, Inc., EVE Energy Co., Ltd., FELLO Co., Ltd., Golden Power Group Holdings Ltd., HARDING ENERGY, INC., Koninklijke Philips N.V., Maxell Holdings, Ltd., Panasonic Corporation, Renata SA, Sony Group Corporation, Zeus Battery Products, and TOSHIBA CORPORATION.
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