SILVER OXIDE BATTERY MARKET ANALYSIS

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

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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.

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

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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.