Global Silver Oxide Battery Market was valued at US$ 18.3 billion in 2022. According to Global silver oxide battery market report, By Application (Toys, Medical Equipment, Electronics, and Others (Defense and Aerospace, etc.)) and By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), as published by Coherent Market Insights
Global silver oxide battery market was valued at US$ 18.3 Billion in 2022. Global silver oxide battery market is expected to exhibit a CAGR of 4.34 % over the forecast period (2023–2030), and is expected to reach US$ 25.7 Billion by 2030.
Increasing demand for batteries in electronic devices such as watches, calculators, and medical equipment is propelling growth of the market. According to Coherent Market Insights in 2022, batteries that are used in medical devices and equipments is projected to surpass US$ 3.5 billion by 2025, and thus, boosts growth of the market. Advantages of silver oxide batteries as compared to other energy cells is expected to drive the market growth. Silver oxide battery has higher operating voltage as compared to mercury batteries, flatter discharge curve as compared to alkaline batteries, more run time of battery, and are free from flammability problems and thermal runaway as compared to lithium- ion batteries. Small silver oxide batteries are preferred in low power LCD watches, calculator displays, watches, and camera applications. Larger silver oxide batteries are preferred for military and aerospace applications, owing to its high performance such as excellent tolerance for high current load. By region, North America and Europe held significant market share in the global silver oxide battery market.
According to the Japan Electronics and Information Technology Industries Association’s estimates, a Japan-based trade organization for the electronics and IT industries, production of global electronics and information technology industry is increased 2% year-on-year in 2020 from 2019 to US$ 2.610 billion in 2019, and increased 3% year-on-year in 2022 from 2020 to US$ 2.680 billion in 2019.
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.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/silver-oxide-battery-market-1942
Browse 50 market data tables* and 40 figures* on "Global Silver Oxide Battery Market” - Forecast to 2030.
Key Trends and Analysis of the Global Silver Oxide Battery Market:
- Among region, North America accounted for a significant market share of 37% in 2022, due to growing demand for silver oxide battery in aerospace, missiles, and medical devices such as glucometers, hearing aids, and digital thermometers.
Key Takeaways of the Global Silver Oxide Battery Market:
- According to Coherent Market Insights in 2022, among application, electronics segment held largest revenue share of 39% in the global silver oxide battery market in 2022. Silver oxide battery are used in electronic equipment that requires small and compact power sources, and this is expected to fuel the market growth.
