Hearing Aid Battery Market Size, Share, Analysis 2030
Global Hearing Aid Battery Market
Segments - By Types (Zinc-Air Battery, Lithium Ion Rechargeable Battery, And Silver-Zinc Rechargeable Battery), Size (Size 10, Size 13, Size 312, And Size 675), And Distribution Channel (Online And Offline), and Regions (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
Segments - By Types (Zinc-Air Battery, Lithium Ion Rechargeable Battery, And Silver-Zinc Rechargeable Battery), Size (Size 10, Size 13, Size 312, And Size 675), And Distribution Channel (Online And Offline), and Regions (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The Global Hearing Aid Battery Market Size was valued at USD 1,403.2 million in 2020 and is projected to reach USD 1,987.1 million by 2028, expanding at a CAGR of 4.6% during the forecast period. The hearing aid battery market size is projected to expand at a rapid pace globally, owing to urbanization and increasing population.
A hearing aid battery is used in hearing aids to help people who are deaf or hard of hearing. Different sizes, styles, and color-coding are available for these batteries. It is difficult to detect and remember the differences in size. As a result, battery packaging is color-coded for easy finding and purchasing of the necessary batteries.
Hearing aid batteries come in a variety of colors: yellow, brown, orange, and blue. Hearing aid batteries last 1 to 20 days on an average. Hearing aid batteries ensure continuous working of hearing aids. Hearing aids are powered by batteries. Most hearing aids used little "button" batteries that had to be replaced every few days to weeks. Many hearing aid devices now include rechargeable batteries.
Ear trumpets and ear horns were passive amplification cones designed to gather sound energy and direct it into the ear canal. Modern devices are automated electroacoustic systems that use audio metrical and cognitive criteria to transform environmental sound into audible sound. It has a sophisticated digital signal refining system that attempts and improves speech accessibility and comfort for the user.
Response management, large dynamic range compression, directionality, frequency lowering, and noise depletion are examples of signal processing. A pattern that matches the wearer's hearing loss, physical traits, and lifestyle is required for such a hearing aid. The hearing aid is tuned to the most recent audiogram and projected at a certain frequency.
Need for rechargeable batteries increased, due to advancements in battery technology and the evolution of hearing aid devices, which fueled the expansion of the hearing aid battery market. Bluetooth technology, which uses radio frequencies to transfer data from one electronic device to another to enable wireless communication between the hearing equipment and a smartphone, is used in many modern hearing devices. Hearing aid batteries are available on e-commerce platforms for a lower price than the maximum retail price. As a result, demand for medical gadgets on internet marketplaces is increasing.
Hearing Aid Battery Market Dynamics
Demand for hearing aids is driven by the simplicity of purchasing and the speed with which products are delivered. The hearing aid battery market share is expected to develop, due to rapidly growing E-commerce industry and online sales of hearing aid devices throughout the projected period. Key trends that assist the growth of the hearing aid batteries market are the vulnerability of IT-enabled hearing aid devices and the introduction of Bluetooth in hearing aid devices. Over the last few years, the trend of growing elderly population around the world accelerated significantly. Hearing impairments increased as a result of industrial activities and urbanization.
Hearing Aid Battery Market Segmental Outlook
In terms of types, the hearing aid battery market is segmented into zinc-air battery, lithium ion rechargeable battery, and silver-zinc rechargeable battery. Over the projected period, the zinc-air batteries segment is expected to dominate the market. Growing use of zinc-air batteries as power sources in remote railway signaling and navigation aid systems is driving the market. The lithium ion rechargeable battery segment is expected to expand at a significant CAGR, due to rising demand for plug-in vehicles, increased demand for battery-operated material-handling equipment in industries due to automation, continuous development of smart devices, and growing adoption of lithium-ion batteries in the renewable energy sector.
The zinc-air batteries segment is projected to expand at a rapid CAGR, as a huge variety of electrical gadgets and appliances used in daily life are powered by zinc-air batteries. Watches, hearing aids, pagers, and other devices employ zinc-air batteries. These batteries have high energy density and are inexpensive to manufacture.
In terms of size, the hearing aid battery market is segmented into size 10, size 13, size 312, and size 675. The size 675 segment is expected to dominate the market during the forecast period, as it delivers long battery life in a device. Hearing aids that require high power use size 675 batteries. Over the forecast period, the demand for size 10 batteries is expected to increase, due to various benefits offered by the equipment. Factors that are projected to boost the demand for size 10 batteries are low maintenance cost and high savings. Size 675 is the largest among all sizes and have long battery life from 9 to 20 days, which is anticipated to fuel the segment.
In terms of distribution channels, the hearing aid battery market is bifurcated into online and offline. Over the projected period, the online distribution channel segment is expected to dominate the market. During the Covid-19 pandemic, the entire world was in a lockdown for several months, which provided opportunities for major participants in the online sales of hearing aid batteries.
Over the forecast period, the demand for the offline distribution channel segment is expected to increase, as customers prefer to check the products and make purchases through offline distribution channels. The usual method of purchasing a product or piece of equipment is through offline distribution channels. The capacity to inspect a product and make an informed decision is the primary benefit of offline purchases.
Hearing Aid Battery Market Region Wise Outlook
Based on regions, the global hearing aid battery market is fragmented into North America, Europe, Latin America, and Middle East & Africa. Europe accounted for a significant share of the market in 2020 and the market in regions such as Asia Pacific (APAC) and North America is anticipated to expand at a substantial CAGR during the forecast period. Europe is expected to dominate the global hearing aid battery market in the forecast period, due to increasing prevalence of deafness as well as increased public knowledge of technical breakthroughs.
Asia Pacific holds a substantial share of the market during the forecast period, due to rapid industrialization in the region. The market in Asia Pacific is expected to develop at a rapid rate over the forecast period, due to huge population base, rising incidence of the geriatric population, and advancements in distribution networks of market players. Over the forecast period, several factors, such as the expanding industrial sector and increased investments in the hearing aid batteries infrastructure sector, are expected to boost the demand for hearing aid batteries in North America. Various governments in North America are investing in the development of hearing aid batteries, which is projected to fuel the demand for hearing aid batteries.
Hearing loss affects 11 million people in the UK. Hearing impairment is projected to increase as the population in Europe ages, which is expected to drive the market in Europe. Outsource manufacturing emerged as a prominent trend among industry participants to improve or maintain their market position. China and South Korea are among the top locations for outsource manufacturing, due to manufacturing skills, low manufacturing costs, and significant presence of skilled experts in the countries.
Key Benefits of this Report for Industry Participants & Stakeholders
In-depth Analysis of the global hearing aid battery market
Historical, Current, and Projected Market Size in terms of Value and Volume
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on global hearing aid battery market performance
Some of the key players in the market include Energizer, Duracell, MAXELL UK LTD, Panasonic, RAYOVAC, Starkey Laboratories, Inc, Toshiba Batteries, VARTA Consumer Batteries GmbH & Co, Widex, ICellTech, and Zpower. These companies are considered as key manufacturers of Global Hearing Aid Batteries based on their revenue, product offerings and supply chain management system.
The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where there is potential opportunity for the Global Hearing Aid Battery Market.
Chapter 1 Executive Summary Chapter 2 Assumptions and Acronyms Used Chapter 3 Research Methodology Chapter 4 Hearing Aid Battery Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Hearing Aid Battery Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Hearing Aid Battery Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Hearing Aid Battery Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Hearing Aid Battery Market Size & Forecast, 2018-2028 4.5.1 Hearing Aid Battery Market Size and Y-o-Y Growth 4.5.2 Hearing Aid Battery Market Absolute $ Opportunity 4.6 Pricing Analysis & Forecast, 2018-2028 4.7 Key Standards and regulations 4.8 The Changing Landscape of Hearing Aid Batteries 4.9 Brand Analysis Overview Chapter 5 Global Hearing Aid Battery Market Analysis and Forecast By Type 5.1 Introduction 5.1.1 Key Market Trends & Growth Opportunities By Type 5.1.2 Basis Point Share (BPS) Analysis By Type 5.1.3 Absolute $ Opportunity Assessment By Type 5.2 Hearing Aid Battery Market Size & Volume Forecast By Type 5.2.1 Zinc-Air Battery 5.2.2 Lithium Ion Rechargeable Battery 5.2.3 Silver-Zinc Rechargeable Battery 5.3 Market Attractiveness Analysis By Type Chapter 6 Global Hearing Aid Battery Market Analysis and Forecast By Size 6.1 Introduction 6.1.1 Key Market Trends & Growth Opportunities By Size 6.1.2 Basis Point Share (BPS) Analysis By Size 6.1.3 Absolute $ Opportunity Assessment By Size 6.2 Hearing Aid Battery Market Size & Volume Forecast By Size 6.2.1 Size 10 6.2.2 Size 13 6.2.3 Size 312 6.2.4 Size 675 6.3 Market Attractiveness Analysis By Size Chapter 7 Global Hearing Aid Battery Market Analysis and Forecast By Distribution Channel 7.1 Introduction 7.1.1 Key Market Trends & Growth Opportunities By Distribution Channel 7.1.2 Basis Point Share (BPS) Analysis By Distribution Channel 7.1.3 Absolute $ Opportunity Assessment By Distribution Channel 7.2 Hearing Aid Battery Market Size & Volume Forecast By Distribution Channel 7.2.1 Offline 7.2.1.1 Specialty Stores 7.2.1.2 Supermarket 7.2.1.3 Retail Outlets 7.2.2 Online 7.2.2.1 E-commerce Websites 7.2.2.2 Company-owned Websites 7.3 Market Attractiveness Analysis By Distribution Channel Chapter 8 Global Hearing Aid Battery Market Analysis and Forecast by Region 8.1 Introduction 8.1.1 Key Market Trends & Growth Opportunities by Region 8.1.2 Basis Point Share (BPS) Analysis by Region 8.1.3 Absolute $ Opportunity Assessment by Region 8.2 Hearing Aid Battery Market Size & Volume Forecast by Region 8.2.1 North America 8.2.2 Europe 8.2.3 Asia Pacific 8.2.4 Latin America 8.2.5 Middle East & Africa (MEA) 8.3 Market Attractiveness Analysis by Region Chapter 9 Coronavirus Disease (COVID-19) Impact 9.1 Introduction 9.2 Current & Future Impact Analysis 9.3 Economic Impact Analysis 9.4 Government Policies 9.5 Investment Scenario Chapter 10 North America Hearing Aid Battery Analysis and Forecast 10.1 Introduction 10.2 North America Hearing Aid Battery Market Size & Volume Forecast by Country 10.2.1 U.S. 10.2.2 Canada 10.3 Basis Point Share (BPS) Analysis by Country 10.4 Absolute $ Opportunity Assessment by Country 10.5 Market Attractiveness Analysis by Country 10.6 North America Hearing Aid Battery Market Size & Volume Forecast By Type 10.6.1 Zinc-Air Battery 10.6.2 Lithium Ion Rechargeable Battery 10.6.3 Silver-Zinc Rechargeable Battery 10.7 Basis Point Share (BPS) Analysis By Type 10.8 Absolute $ Opportunity Assessment By Type 10.9 Market Attractiveness Analysis By Type 10.10 North America Hearing Aid Battery Market Size & Volume Forecast By Size 10.10.1 Size 10 10.10.2 Size 13 10.10.3 Size 312 10.10.4 Size 675 10.11 Basis Point Share (BPS) Analysis By Size 10.12 Absolute $ Opportunity Assessment By Size 10.13 Market Attractiveness Analysis By Size 10.14 North America Hearing Aid Battery Market Size & Volume Forecast By Distribution Channel 10.14.1 Offline 10.14.1.1 Specialty Stores 10.14.1.2 Supermarket 10.14.1.3 Retail Outlets 10.14.2 Online 10.14.2.1 E-commerce Websites 10.14.2.2 Company-owned Websites 10.15 Basis Point Share (BPS) Analysis By Distribution Channel 10.16 Absolute $ Opportunity Assessment By Distribution Channel 10.17 Market Attractiveness Analysis By Distribution Channel Chapter 11 Europe Hearing Aid Battery Analysis and Forecast 11.1 Introduction 11.2 Europe Hearing Aid Battery Market Size & Volume Forecast by Country 11.2.1 Germany 11.2.2 France 11.2.3 Italy 11.2.4 U.K. 11.2.5 Spain 11.2.6 Russia 11.2.7 Rest of Europe 11.3 Basis Point Share (BPS) Analysis by Country 11.4 Absolute $ Opportunity Assessment by Country 11.5 Market Attractiveness Analysis by Country 11.6 Europe Hearing Aid Battery Market Size & Volume Forecast By Type 11.6.1 Zinc-Air Battery 11.6.2 Lithium Ion Rechargeable Battery 11.6.3 Silver-Zinc Rechargeable Battery 11.7 Basis Point Share (BPS) Analysis By Type 11.8 Absolute $ Opportunity Assessment By Type 11.9 Market Attractiveness Analysis By Type 11.10 Europe Hearing Aid Battery Market Size & Volume Forecast By Size 11.10.1 Size 10 11.10.2 Size 13 11.10.3 Size 312 11.10.4 Size 675 11.11 Basis Point Share (BPS) Analysis By Size 11.12 Absolute $ Opportunity Assessment By Size 11.13 Market Attractiveness Analysis By Size 11.14 Europe Hearing Aid Battery Market Size & Volume Forecast By Distribution Channel 11.14.1 Offline 11.14.1.1 Specialty Stores 11.14.1.2 Supermarket 11.14.1.3 Retail Outlets 11.14.2 Online 11.14.2.1 E-commerce Websites 11.14.2.2 Company-owned Websites 11.15 Basis Point Share (BPS) Analysis By Distribution Channel 11.16 Absolute $ Opportunity Assessment By Distribution Channel 11.17 Market Attractiveness Analysis By Distribution Channel Chapter 12 Asia Pacific Hearing Aid Battery Analysis and Forecast 12.1 Introduction 12.2 Asia Pacific Hearing Aid Battery Market Size & Volume Forecast by Country 12.2.1 China 12.2.2 Japan 12.2.3 South Korea 12.2.4 India 12.2.5 Australia 12.2.6 South East Asia (SEA) 12.2.7 Rest of Asia Pacific (APAC) 12.3 Basis Point Share (BPS) Analysis by Country 12.4 Absolute $ Opportunity Assessment by Country 12.5 Market Attractiveness Analysis by Country 12.6 Asia Pacific Hearing Aid Battery Market Size & Volume Forecast By Type 12.6.1 Zinc-Air Battery 12.6.2 Lithium Ion Rechargeable Battery 12.6.3 Silver-Zinc Rechargeable Battery 12.7 Basis Point Share (BPS) Analysis By Type 12.8 Absolute $ Opportunity Assessment By Type 12.9 Market Attractiveness Analysis By Type 12.10 Asia Pacific Hearing Aid Battery Market Size & Volume Forecast By Size 12.10.1 Size 10 12.10.2 Size 13 12.10.3 Size 312 12.10.4 Size 675 12.11 Basis Point Share (BPS) Analysis By Size 12.12 Absolute $ Opportunity Assessment By Size 12.13 Market Attractiveness Analysis By Size 12.14 Asia Pacific Hearing Aid Battery Market Size & Volume Forecast By Distribution Channel 12.14.1 Offline 12.14.1.1 Specialty Stores 12.14.1.2 Supermarket 12.14.1.3 Retail Outlets 12.14.2 Online 12.14.2.1 E-commerce Websites 12.14.2.2 Company-owned Websites 12.15 Basis Point Share (BPS) Analysis By Distribution Channel 12.16 Absolute $ Opportunity Assessment By Distribution Channel 12.17 Market Attractiveness Analysis By Distribution Channel Chapter 13 Latin America Hearing Aid Battery Analysis and Forecast 13.1 Introduction 13.2 Latin America Hearing Aid Battery Market Size & Volume Forecast by Country 13.2.1 Brazil 13.2.2 Mexico 13.2.3 Rest of Latin America (LATAM) 13.3 Basis Point Share (BPS) Analysis by Country 13.4 Absolute $ Opportunity Assessment by Country 13.5 Market Attractiveness Analysis by Country 13.6 Latin America Hearing Aid Battery Market Size & Volume Forecast By Type 13.6.1 Zinc-Air Battery 13.6.2 Lithium Ion Rechargeable Battery 13.6.3 Silver-Zinc Rechargeable Battery 13.7 Basis Point Share (BPS) Analysis By Type 13.8 Absolute $ Opportunity Assessment By Type 13.9 Market Attractiveness Analysis By Type 13.10 Latin America Hearing Aid Battery Market Size & Volume Forecast By Size 13.10.1 Size 10 13.10.2 Size 13 13.10.3 Size 312 13.10.4 Size 675 13.11 Basis Point Share (BPS) Analysis By Size 13.12 Absolute $ Opportunity Assessment By Size 13.13 Market Attractiveness Analysis By Size 13.14 Latin America Hearing Aid Battery Market Size & Volume Forecast By Distribution Channel 13.14.1 Offline 13.14.1.1 Specialty Stores 13.14.1.2 Supermarket 13.14.1.3 Retail Outlets 13.14.2 Online 13.14.2.1 E-commerce Websites 13.14.2.2 Company-owned Websites 13.15 Basis Point Share (BPS) Analysis By Distribution Channel 13.16 Absolute $ Opportunity Assessment By Distribution Channel 13.17 Market Attractiveness Analysis By Distribution Channel Chapter 14 Middle East & Africa (MEA) Hearing Aid Battery Analysis and Forecast 14.1 Introduction 14.2 Middle East & Africa (MEA) Hearing Aid Battery Market Size & Volume Forecast by Country 14.2.1 Saudi Arabia 14.2.2 South Africa 14.2.3 UAE 14.2.4 Rest of Middle East & Africa (MEA) 14.3 Basis Point Share (BPS) Analysis by Country 14.4 Absolute $ Opportunity Assessment by Country 14.5 Market Attractiveness Analysis by Country 14.6 Middle East & Africa (MEA) Hearing Aid Battery Market Size & Volume Forecast By Type 14.6.1 Zinc-Air Battery 14.6.2 Lithium Ion Rechargeable Battery 14.6.3 Silver-Zinc Rechargeable Battery 14.7 Basis Point Share (BPS) Analysis By Type 14.8 Absolute $ Opportunity Assessment By Type 14.9 Market Attractiveness Analysis By Type 14.10 Middle East & Africa (MEA) Hearing Aid Battery Market Size & Volume Forecast By Size 14.10.1 Size 10 14.10.2 Size 13 14.10.3 Size 312 14.10.4 Size 675 14.11 Basis Point Share (BPS) Analysis By Size 14.12 Absolute $ Opportunity Assessment By Size 14.13 Market Attractiveness Analysis By Size 14.14 Middle East & Africa (MEA) Hearing Aid Battery Market Size & Volume Forecast By Distribution Channel 14.14.1 Offline 14.14.1.1 Specialty Stores 14.14.1.2 Supermarket 14.14.1.3 Retail Outlets 14.14.2 Online 14.14.2.1 E-commerce Websites 14.14.2.2 Company-owned Websites 14.15 Basis Point Share (BPS) Analysis By Distribution Channel 14.16 Absolute $ Opportunity Assessment By Distribution Channel 14.17 Market Attractiveness Analysis By Distribution Channel Chapter 15 Competition Landscape 15.1 Hearing Aid Battery Market: Competitive Dashboard 15.2 Global Hearing Aid Battery Market: Market Share Analysis, 2020 15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 15.3.1 Duracell Inc. 15.3.2 Energizer Holdings Inc 15.3.3 Starkey Laboratories Inc. 15.3.4 Maxell Joei Tech Co., Ltd. 15.3.5 Panasonic Corporation 15.3.6 Toshiba Corporation 15.3.7 VARTA AG 15.3.8 WS Audiology 15.3.9 ZPower 15.3.10 Renata batteries 15.3.11 GPB International Limited 15.3.12 Eastman Kodak Company
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According to this Growth Market Reports report, the hearing aid battery market is expected to register a CAGR of 4.6% during the forecast period, 2020-2028, with an anticipated valuation of USD 1,987.1 million by the end of 2028.
In addition to market size (in US$ Million), Company Market Share (in % for base year 2020), Regulatory Landscape, Technology Landscape, Patent Analysis, Consumer Survey, and Pipeline /Clinical Trial Analysis are available in the report.
Demand for hearing aids is driven by the simplicity of purchasing and the speed with which products are delivered. The hearing aid battery market is expected to develop, due to rapidly growing E-commerce industry and online sales of hearing aid devices throughout the projected period. Key trends that assist the growth of the hearing aid batteries market are the vulnerability of IT-enabled hearing aid devices and the introduction of Bluetooth in hearing aid devices.
The base year considered for the global hearing aid battery market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018 and 2019 are the historic years, and the forecast is provided from 2020 to 2028.
The market is expected to decline to a growth rate 0.7% between 2019 and 2020, owing to the effect of COVID 19 pandemic on the hearing aid battery market
Factors such as government regulations, E-commerce industry, GDP, technological advancement, R&D activities, and population are analyzed in the final report.