According to a new market research report published by Credence Research “Coin Cell Batteries Market (Product – LR, SR, CR, ZnAir; Application – OEM, Retail) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall Coin Cell Batteries market worldwide was valued at US$ 3.89 Bn in 2018 and is set to grow with a CAGR of 0.45% during the forecast period.
The overall coin cell batteries market is dependent upon traditional as well as smart devices. The booming electronic devices market has also contributed to the coin cell batteries market. Coin cell batteries are button sized cell shaped as a squat cylinder typically 5 to 25 mm in diameter and 1 to 6 mm high. These battery cells are single cell, primarily cell batteries and are disposable. Further, increased use in computers and gaming devices is driving the coin cell batteries. As a result of these factors, we are expecting a stagnant growth in coin cell batteries market during the forecast period.
Based on application type, retail shall contribute more than 50% to the total revenue of coin cell batteries market. Wrist-watches and battery run toys comprised a large portion of total revenue in retail. On account of decrease in production of traditional watches, the coin cell batteries market is also sluggish. Further, use of battery coin cells in smartwatch, hearing devices, pocket calculators will somehow maintain the pace of the coin cell batteries market. Coin cell batteries are replaceable which makes the devices easy to use. This increases the demand for such devices. Due to these factors, retail shall drive the growth of Coin Cell Batteries market during the forecast period.
Based on the geography, North America has led the Coin Cell Batteries market. The increased focus on the linking and digitization of future products and services has boosted the growth of the coin cell batteries market in the region. Asia-Pacific is expected to lead the coin cell batteries market growth during the forecast period. Growing adoption of smart devices in Asia-Pacific shall further drive the market. Further, changing lifestyle and adoption of smart technologies is the new trend in the region. As a result of these factors, Asia Pacific is set to grow with the highest CAGR during the forecast period.
Some of the major companies profiled in the report include Sony, Maxell, Panasonic, Renata Batteries, Rayovac, Toshiba, Varta Microbattery, GP Batteries, Vinnic, Nanfu, TTMQ, EVE Energy, Golden Power Hongkong, Camelion Battery and others.
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