Silver Oxide Battery Market Size, Trends and Forecast to 2030

Silver oxide battery consists of silver oxide as positive electrode and zinc as negative electrode. It contains potassium hydroxide or sodium hydroxide as electrolyte. Silver oxide battery is widely used across globe, owing to its durability and high energy weight ratio.

Global silver oxide battery market was valued at US$ 18.3 Billion in 2022, exhibiting a CAGR of 4.34% during the forecast period (2023 to 2030).

Global Silver Oxide Battery Market- Drivers

Growing demand for silver oxide battery in various electronic appliances

Silver oxide battery are used broadly due to its high energy weight ratio and durability. It is usually used as scaled down power source. Button silver oxide batteries are generally used in calculators, watches, toys, photo- electric exposure gadgets, and hearing aids. Batteries, big in size, are used in submarines, rockets, aviation, and underwater applications. Button silver oxide batteries are used in computerized and simple watches, and this is expected to boost demand for silver oxide battery in the global market.

These batteries are used as miniature power source. Big batteries are used in missiles, submarines, aerospace, and underwater applications. Silver oxide battery has advantages such as high capacity, low shelf discharge, and long shelf-life, and this is a major factor in driving growth of the global silver oxide battery market.

Figure 1. Global Silver Oxide Battery Market Value Share (%), By Region, 2022

SILVER OXIDE BATTERY MARKET

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Global Silver Oxide Battery Market- Restraints

High cost of silver

High cost of silver in the silver oxide battery is a major factor that is negatively affecting growth of the global silver oxide battery market.

Silver Oxide Battery Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 18.3 Bn
Historical Data for:	2017-2021	Forecast Period:	2023
Forecast Period 2023 to 2030 CAGR:	4.34%	2030 Value Projection:	2023-2030
Geographies covered:	North America: U.S., Canada South America: Brazil, Argentina and Rest of South America Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Application: Toys, Medical Equipment, Electronics, Others (Defense and Aerospace, etc.)
Companies covered:	Panasonic Corporation, Energizer Holdings, Maxwell Technologies Inc., Seiko Instruments Inc., Berkshire Hathaway Inc., Sony Corporation, Toshiba Corporation, Renata SA, Camelion Battery, and Varta AG.
Growth Drivers:	Growing adoption of electronic wearables Advantages of silver oxide battery
Restraints & Challenges:	High cost of silver in the silver oxide battery

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Global Silver Oxide Battery Market- Trends

Silver oxide battery benefits include flatter curve of discharge battery, increased operating voltage, shock resistant, resistance to vibration, availability of various size and voltages, and this are the key driving factors for development of the global silver oxide battery market. Increasing popularity of electronic wearables is expected to boost development of the silver oxide battery market.

Small button silver oxide battery has application in digital and analog watches, calculators, toys, and portable electronics, and this is propelling growth of the global silver oxide battery market. Furthermore, large customized silver oxide batteries are used in aerospace applications and military applications such as missiles, submarines, and torpedoes, and this is also expected to support growth of the silver oxide battery market.

Figure 2. Global Silver Oxide Battery Market Value Share (%), By Application, 2022

SILVER OXIDE BATTERY MARKET

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Regional Analysis

North America held significant market share in the global silver oxide market in 2022. The U.S. was a major contributor to market growth in this region. This is owing to increasing focus of key players in the region on development of new products.

Global Silver Oxide Battery Market- Impact of Coronavirus (Covid-19) Pandemic

Outbreak of the COVID-19 pandemic in 2020 had a negative significant impact on the growth of global silver oxide battery market, owing to decreased usage of toys, medical equipment and electronics during pandemic, and this negatively affected global silver oxide battery market.

Global Silver Oxide Battery Market- Recent Developments

In October 2020, Murata Manufacturing Co., Ltd., a Japan-based manufacturer of electronic components, introduced high drain silver oxide batteries (SR) and alkaline manganese batteries (LR) to its product line-up in medical devices such as dosing devices, insulin pumps/pens, and capsule endoscopes
In February 2022, Panasonic Corporation, an industrial conglomerate corporation, announced that its Energy Company (Panasonic Energy) will establish a manufacturing facility at its Wakayama Factory, Japan, to manufacture new "4680" lithium-ion batteries for electric vehicles (EVs) in order to expand its business globally

Global Silver Oxide Battery Market- Competitive Section

Major players operating in the global silver oxide battery market include Panasonic Corporation, Energizer Holdings, Maxwell Technologies, Inc., Seiko Instruments Inc., Berkshire Hathaway Inc., Sony Corporation, Toshiba Corporation, Renata SA, Camelion Battery, and Varta AG.

About Author

Vidyesh Swar is a seasoned Consultant with a diverse background in market research and business consulting. With over 6 years of experience, Vidyesh has established a strong reputation for his proficiency in market estimations, supplier landscape analysis, and market share assessments for tailored research solution. Using his deep industry knowledge and analytical skills, he provides valuable insights and strategic recommendations, enabling clients to make informed decisions and navigate complex business landscapes.

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Frequently Asked Questions

Global silver oxide battery market was valued at around US$ 18.3 Billion in 2022.

Growing adoption of electronic wearables, coupled with advantages of silver oxide batteries such as high capacity, low shelf discharge, and long shelf-life are some of the major factors that are expected to propel market

Benefits of silver oxide batteries such as flatter curve of discharge, increased operating voltage, shock resistant, resistance to vibration, availability of various size and voltages are some of the main trends in market.

High cost of silver in the silver oxide battery is one of the major factors that is expected to hamper the market

Major players operating in the market include Panasonic Corporation, Energizer Holdings, Maxwell Technologies, Inc., Seiko Instruments Inc., Berkshire Hathaway Inc., Sony Corporation, Toshiba Corporation, Renata SA, Camelion Battery, and Varta AG.

The market is estimated to grow at around 4.34 % CAGR in the forecast period (2023-2030).