Global Coin Cell Batteries Market Overview
As per MRFR analysis, the Coin Cell Batteries Market Size was estimated at 1.76 (USD Billion) in 2022. The Coin Cell Batteries Market Industry is expected to grow from 1.84(USD Billion) in 2023 to 2.73 (USD Billion) by 2032. The Coin Cell Batteries Market CAGR (growth rate) is expected to be around 4.5% during the forecast period (2024 - 2032).
Key Coin Cell Batteries Market Trends Highlighted
Coin cell batteries are experiencing growing demand due to their compact size, high energy density, and suitability for various portable electronic devices. The market is driven by the surge in wireless communication technologies, wearable electronics, and the Internet of Things (IoT).
These applications require reliable and compact power sources that coin cell batteries provide. Opportunities in the market include the increasing adoption of IoT devices and the development of new energy-efficient technologies. The integration of coin cell batteries into smart sensors, medical devices, and other IoT devices creates significant growth potential. Additionally, technological advancements in materials, such as lithium-ion and silver-oxide, enhance battery performance, leading to longer lifespan and higher reliability.
Recent trends in the market include the increasing demand for environmentally friendly batteries. Lithium-ion coin cell batteries have gained popularity due to their high energy density and low environmental impact compared to traditional mercury-oxide batteries. Moreover, rechargeable coin cell batteries are becoming more widespread as they offer cost savings and reduce battery waste.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Coin Cell Batteries Market Drivers
Increasing Demand for Wearable Devices
Development within the Coin Cell Batteries Market Industry has been significantly driven by the growth of the wearables market over the past few years. These wearable devices include smartwatches, fitness trackers, and hearables. They require compact batteries that can last a long time, and coin cells have become the best option. At the same time, the population is interested in monitoring health status, tracking fitness performance, and using these devices to provide entertainment. OCKETWORLDTM also says that in the following years, the segment is likely to continue being the largest in the second field.
Growing Adoption of Wireless Sensors and IoT Devices
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Advancements in Battery Technology
The development of novel technological solutions in the realm of coin cell batteries has facilitated the growth of this market as well. Modern manufacturing technologies enabled the creation of batteries with higher energy density, more efficient cycle life, and improved safety characteristics. The coin cell battery market growth is further facilitated by the fact that these changes have increased the scope of potential applications of such batteries and made them suitable for an even wider variety of devices.
Coin Cell Batteries Market Segment Insights
Coin Cell Batteries Market Chemistry Insights
The Coin Cell Batteries Market by Chemistry is classified into lithum-ion, silver-oxide, lithum, and mercury. In 2018, Wi-Fi emerged as the vanguard segment and was anticipated to progress at an approximately 10% growth rate in comparison to Bluetooth, which just had a growth rate of 9%. Zigbee as well is experienced progressively high demand owing to its affordability and efficiency. In the Asian region, South Korea, Japan, and China are leading in the production and sale of coin cell batteries. Korea has companies such as Samsung and LG, while Japan has Panasonic and Sanyo.
In 2019, the Chinese market had the largest production and sale of coin cell batteries, with a market share of 40%. As a segment in 2023, lithium is anticipated to be highly controlling, with 40% of the market share. On the other hand, silver-oxide will have the second-highest market share of 30%. Moreover, alkali is anticipated to be the third-largest, with a market share of around 20%. Lastly, mercury’s market share is expected to be the smallest, with a share of 10%. Lithium will also be expected to have the highest CAGR.
The market share is attributed to the rising demand for li-ion batteries in virtually all sectors. In addition, they are light, have high energy density, and are rechargeable. Silver-oxide will have the second CAGR mainly as a result of the increased purchases of hearing aids around the globe. On the other side, alkaline will have the third CAGR in light of the increased purchases of lower power batteries. However, as expected, mercury will have a CAGR that will be much less than the rest, with an increasingly unfavorable view of the use of this element and the high cost that goes with its separation.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Coin Cell Batteries Market Capacity Insights
The Coin Cell Batteries Market is classified under segments by capacity, where the most prominent one is currently the 10-50mAh segment. This category is predicted to hold the largest market share in cohesion in 2023, with an estimated more than 35% of the Coin Cell Batteries Market revenue. The ever-increasing demand for the coin cell batteries produced in Bluetooth headsets, smartwatches and fitness trackers is the main driver of the abovementioned fact.
Still, the other segments are also relatively significant as the Less than 10mAh category is predicted to hold the largest growing speed throughout the forecast period due to demand for batteries produced in IoT devices and wearable electronics. Over 100mAh category is also to hold a significant market share as coin cell batteries produced for industrial applications continue to be in high demand, especially in medical devices and automotive electronics.
Coin Cell Batteries Market Voltage Insights
The Coin Cell Batteries Market is segmented by voltage into 1.5V, 3V, and 6V. Among these, the 1.5V segment held the largest market share in 2023, accounting for over 40% of the Coin Cell Batteries Market revenue. This is due to the widespread adoption of 1.5V coin cell batteries in various electronic devices, such as watches, calculators, and hearing aids.
The 3V segment is expected to witness significant growth during the forecast period, owing to the increasing use of 3V coin cell batteries in wireless sensors, medical devices, and automotive electronics. The 6V segment is expected to grow at a steady pace, driven by the demand for high-voltage coin cell batteries in industrial applications.
Coin Cell Batteries Market Discharge Rate Insights
The Coin Cell Batteries Market is segmented by discharge rate into low, medium, and high. The low discharge rate segment is expected to account for the largest share of the market in 2023, owing to the increasing demand for coin cell batteries in low-power electronic devices such as watches, calculators, and medical devices. The medium discharge rate segment is expected to witness significant growth over the forecast period, driven by the rising popularity of wireless earbuds, Bluetooth speakers, and other portable audio devices.
The high discharge rate segment is expected to grow at a steady pace, supported by the increasing adoption of coin cell batteries in power tools, electric toothbrushes, and other high-power applications. The Coin Cell Batteries Market revenue for the low discharge rate segment is projected to reach USD 1.23 billion by 2024, while the medium discharge rate segment is expected to reach USD 0.82 billion by the same year. The high discharge rate segment is estimated to reach USD 0.68 billion by 2024.
Coin Cell Batteries Market End Use Industry Insights
The End Use Industry segment plays a crucial role in shaping the dynamics of the Coin Cell Batteries Market. Consumer Electronics, Medical Devices, Industrial, and Automotive sectors are the primary end-use industries for coin cell batteries. In 2023, the Consumer Electronics segment held a substantial market share due to the increasing demand for portable devices such as smartphones, laptops, and tablets.
Medical Devices are another significant end-use industry, with coin cell batteries powering implantable devices, hearing aids, and glucose monitors. The Industrial sector utilizes coin cell batteries for various applications, including sensors, remote controls, and backup power systems. The Automotive industry also employs coin cell batteries in keyless entry systems, tire pressure monitoring systems, and other electronic components. As these end-use industries continue to expand, the demand for coin cell batteries is projected to rise, driving the overall market growth.
Coin Cell Batteries Market Regional Insights
The Coin Cell Batteries Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in 2023 and is projected to continue its dominance throughout the forecast period. The region's market growth is primarily driven by the increasing adoption of wearable devices, such as smartwatches and fitness trackers, which require coin cell batteries for their operation.
Europe is expected to be the second-largest market for coin cell batteries, owing to the presence of a large number of consumer electronics manufacturers in the region.APAC is expected to be the fastest-growing market for coin cell batteries due to the increasing demand for these batteries from the automotive and industrial sectors in the region. South America and MEA are expected to witness steady growth in the coin cell batteries market, driven by the growing demand for consumer electronics and the increasing adoption of renewable energy sources in these regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Coin Cell Batteries Market Key Players And Competitive Insights:
Coin Cell Batteries Market may witness strong competition, as many leading players concentrate on developing innovative products and extending their global presence. For example, Panasonic, Sony, Maxell, Renata, and Murata Manufacturing are considered some of the Major players in the Coin Cell Batteries Market.
In point of fact, coin cell battery market development was active, and many key players were taking part in it, concentrating on such activities as strategic partnerships, mergers and acquisitions, products and/or services launches, and geographical expansion. As a result, it may be concluded that the competitive landscape may remain dynamic during the forecast period.
Panasonic Corporation is considered a leading player in the Coin Cell Batteries Market. Established in 1918 and headquartered in Osaka, Japan, the company manufactures and sells electronics and electric parts and offers a wide array of general, automotive, industrial and business-use rechargeable batteries.
In addition, Panasonic offers coin cell batteries, including alkaline, lithium, and silver oxide batteries. Currently, it has global market coverage and is the major supplier to many electronic device manufacturers. It previously concentrated on investing in research and development to increase the capacity and lifecycle of the coin cell batteries.
Sony Corporation is one more major player in the Coin Cell Batteries Market. This includes film production, portable music players, mobile phones, and so on. Being the leading producer of electronic gadgets, such as video cameras, televisions, cameras, camcorders, laptop computers, electronic book readers, etc, Sony also manufactures coin cell batteries, such as alkaline, lithium-ion, and silver-oxide batteries.
Key Companies in the Coin Cell Batteries Market Include
- Panasonic
- FDK Corporation
- GP Batteries
- Union Battery
- Xiamen Ailio Electronics
- Saft
- Kodak
- Fujitsu
- Energizer
- Sony
- Duracell
- Samsung SDI
- Murata
- VARTA
- Maxell
Coin Cell Batteries Market Industry Developments
The Coin Cell Batteries market is projected to reach USD 2.73 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period. The increasing adoption of IoT devices, wearables, and portable electronics is driving the demand for coin cell batteries. The market is witnessing significant growth in the Asia-Pacific region, primarily due to the rising production of consumer electronics and the presence of major manufacturers in the region. Key industry players are focusing on developing advanced battery technologies, such as solid-state batteries, to enhance performance and extend battery life. Recent advancements in battery chemistry have led to the development of lithium-ion coin cells with higher energy density and longer shelf life.
Coin Cell Batteries Market Segmentation Insights
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Coin Cell Batteries Market Chemistry Outlook
- Alkaline
- Silver-Oxide
- Lithium
- Mercury
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Coin Cell Batteries Market Capacity Outlook
- Less than 10mAh
- 10-50mAh
- 50-100mAh
- Over 100mAh
-
Coin Cell Batteries Market Voltage Outlook
-
Coin Cell Batteries Market Discharge Rate Outlook
-
Coin Cell Batteries Market End Use Industry Outlook
- Consumer Electronics
- Medical Devices
- Industrial
- Automotive
-
Coin Cell Batteries Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.76 (USD Billion) |
| Market Size 2023 |
1.84 (USD Billion) |
| Market Size 2032 |
2.73 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.5% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Panasonic, FDK Corporation, GP Batteries, Union Battery, Xiamen Ailio Electronics, Saft, Kodak, Fujitsu, Energizer, Sony, Duracell, Samsung SDI, Murata, VARTA, Maxell |
| Segments Covered |
Chemistry, Capacity, Voltage, Discharge Rate, End Use Industry, Regional |
| Key Market Opportunities |
1 Growing demand from consumer electronics2 Expansion of healthcare amp medical devices3 Technological advancements in energy storage4 Government initiatives for renewable energy5 Rising applications in wearable devices |
| Key Market Dynamics |
Growing demand for IoT devices Rising popularity of wearable electronics Increasing use in medical devices, healthcare, and military Government regulations and environmental concerns Innovations in materials and manufacturing processes |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Coin Cell Batteries Market is expected to reach a valuation of approximately USD 2.73 Billion by 2032. The market is projected to exhibit a CAGR of nearly 4.5% during the forecast period from 2024 to 2032.
The Asia Pacific region is anticipated to lead the Global Coin Cell Batteries Market due to the increasing demand for electronic devices, particularly in countries such as China, Japan, and India.
Coin Cell Batteries are widely used in various applications, including watches, calculators, hearing aids, key fobs, and medical devices such as pacemakers and glucose monitors.
Some of the prominent players in the Global Coin Cell Batteries Market include Panasonic, Sony, Renata, Maxell, and Varta.
The increasing demand for portable electronic devices, advancements in battery technology, and the growing popularity of wireless devices are driving the growth of the Global Coin Cell Batteries Market.
The market is confronted by challenges such as environmental concerns associated with battery disposal, intense competition, and the need for continuous innovation to meet the evolving needs of electronic devices.
The Global Coin Cell Batteries Market is anticipated to grow at a CAGR of approximately 4.5% from 2023 to 2032.
Key trends include the miniaturization of batteries, the development of solid-state batteries, and the increasing adoption of energy-efficient technologies.
The COVID-19 pandemic had a moderate impact on the market, primarily due to disruptions in supply chains and reduced demand for electronic devices. However, the market is expected to recover and continue its growth trajectory in the post-pandemic era.
Emerging opportunities include the growing adoption of IoT devices, the development of wearable technologies, and the increasing demand for sustainable energy solutions.
