Consumer Battery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Consumer Battery Market Manufacturers and it is segmented by Technology Type (Lithium-ion Batteries, Zinc-carbon Batteries, Alkaline Batteries, Nickel Metal Hydride, Nickel Cadmium, and Other Types) and Geography (North America, Asia-Pacific, Europe, South America, and Middle-East and Africa).

Consumer Battery Market Size

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Consumer Battery Market Size
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR 7.47 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Consumer Battery Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Consumer Battery Market Analysis

The Consumer Battery Market size is expected to grow from USD 15.45 billion by the end of next year to USD 22.15 billion after five years, at a CAGR of 7.47% during the forecast period. 

  • Over the medium term, the increasing demand for portable electronics items like smartphones, tablets, and wearables is expected to drive the market during the forecasted period.
  • On the other hand, the limited lifespan of consumer batteries, especially rechargeable batteries, is expected to hinder the growth of the market during the forecasted period.
  • Nevertheless, the increasing adaption of renewable energy sources and energy storage systems is expected to create huge opportunities for the Consumer Battery Market.
  • Asia-Pacific is expected to be a dominant region for the Consumer Battery Market due to the presence of a large battery manufacturing infrastructure in the region.

Consumer Battery Market Trends

The Lithium-ion Batteries Segment is Expected to Dominate the Market

  • Lithium-ion batteries are rechargeable batteries that use lithium ions to store and release electrical energy. They are widely used in various applications, including consumer electronics, electric vehicles, energy storage systems, etc.
  • Lithium-ion batteries offer higher energy density compared to other battery chemistries. This means they can store more energy in a smaller, lighter package, making them ideal for portable electronic devices requiring long-lasting power in a compact form factor.
  • Lithium-ion batteries typically have a longer lifespan than other rechargeable batteries, such as nickel-metal hydride (NiMH) or nickel-cadmium (NiCd) batteries. They can withstand more charge-discharge cycles before experiencing significant capacity loss, providing consumers with more usage time and value for their investment.
  • Global lithium-ion battery manufacturers are focusing on reducing the cost of Lithium-ion batteries. The price of lithium-ion batteries declined steeply over the past ten years. In 2022, an average lithium-ion battery was valued at around USD 151 per kWh. It witnessed a decrease in the price of more than 79% in 2022 compared to 2013.
  • Further, most smartphone companies, including Samsung, iPhone, Infinix, and Nokia use lithium-ion batteries. The increasing use of smartphones will drive the market for lithium-ion batteries. According to Ericsson, China, India, and the United States have the highest number of smartphone mobile network subscribers worldwide, with almost 6.6 billion in 2022, and is expected to surpass 7.8 billion in next five years.
  • Additionally, in February 2022, Berkshire Hathaway Energy Renewables (BHE Renewables) announced its plans to break ground by mid-2022 on a California facility to test the commercial viability of a process that extracts lithium from geothermal brine. Once the test succeeds, the company will likely start commercializing lithium hydroxide and lithium carbonate in next three years. Such moves will likely boost the lithium-ion battery market for ESS applications in North America.
  • Therefore, as mentioned above, the lithium-ion segment is expected to dominate the market during the forecasted period.
Consumer Battery Market - Lithium-ion Battery Packs

Asia-Pacific is Expected to Dominate the Market

  • The Asia-Pacific region, particularly countries like China, Japan, South Korea, and Taiwan, has established itself as a manufacturing hub for consumer electronics and batteries. These countries have well-developed supply chains, production facilities, and expertise in battery manufacturing, enabling them to meet the global demand for consumer batteries.
  • Moreover, Asia-Pacific is home to a significant portion of the world's population, including emerging economies with growing middle-class populations. The increasing disposable income and rising adoption of consumer electronic devices in this region drive the demand for batteries, making it a lucrative market for battery manufacturers.
  • For instance, in February 2023, the Malaysian government identified the electronics market as a potential market that can become significant to the country's economy. To promote manufacturing in the electronics segment, the government announced its decision to extend the tax incentive given to manufacturing companies that relocate to Malaysia and the tax rate of 15% for C-Suite until next year.
  • The Asia-Pacific region is also a major hub for the electric vehicle (EV) industry. As EVs rely heavily on lithium-ion batteries, the growing adoption of electric vehicles in countries like China, Japan, and South Korea contributes significantly to the demand for lithium-ion batteries, strengthening the region's dominance in the market.
  • The Asia-Pacific region has also witnessed substantial growth in e-commerce platforms and online retail. This has made consumer batteries easily accessible to a wide customer base, contributing to the market's expansion. E-commerce provides convenience, competitive pricing, and a vast range of options for consumers to purchase batteries, fueling the market's dominance.
  • Therefore, per the points mentioned above, the Asia-Pacific region is expected to dominate the consumer battery market during the forecasted period.
Consumer Battery Market - Growth Rate by Region

Consumer Battery Industry Overview

The consumer battery market is fragmented. Some of the major companies (in no particular order) include Panasonic Corporation, VARTA Consumer Batteries GmbH & Co. KGaA, Samsung SDI Co. Ltd, Duracell Inc., and PolyPlus Battery Company Inc., among others.

Consumer Battery Market Leaders

  1. Panasonic Corporation

  2. VARTA Consumer Batteries GmbH & Co. KGaA

  3. Samsung SDI Co. Ltd

  4. Duracell Inc.

  5. PolyPlus Battery Company Inc.

*Disclaimer: Major Players sorted in no particular order

Panasonic Corporation, VARTA Consumer Batteries GmbH & Co. KGaA, Samsung SDI Co. Ltd, Duracell Inc., PolyPlus Battery Company Inc.
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Consumer Battery Market News

  • June 2023: Toyota has announced its plans to incorporate high-performance solid-state batteries and other cutting-edge technologies into upcoming electric vehicles (EVs) to enhance the driving range and reduce costs. This technology roadmap unveiled by the Japanese automaker encompasses many initiatives, including developing next-generation batteries and a radical redesign of manufacturing facilities. This comprehensive disclosure represents Toyota's determined strategy to compete in the rapidly expanding EV market.
  • April 2023: Volkswagen is strengthening its collaboration with Redwood Materials by introducing a consumer battery recycling program. Volkswagen of America, Inc. and Redwood Materials, Inc. will provide consumers with a convenient solution to recycle their rechargeable devices and lithium-ion batteries. Participating Volkswagen dealerships will offer Redwood bins to facilitate this initiative, allowing for safe and hassle-free drop-off of rechargeable batteries and consumer devices such as cell phones, laptops, tablets, cordless power tools, electric toothbrushes, wireless headphones, and old vacuum batteries.

Consumer Battery Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD million, till 2028

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

        1. 4.5.1.1 Increasing Demand for Portable Electronic Devices

        2. 4.5.1.2 Technological Advancements in the Consumer Battery

      2. 4.5.2 Restraints

        1. 4.5.2.1 Limited Battery Lifespan

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitute Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Lithium-ion Batteries

      2. 5.1.2 Zinc-carbon batteries

      3. 5.1.3 Alkaline Batteries

      4. 5.1.4 Nickel Metal Hydride

      5. 5.1.5 Nickel Cadmium

      6. 5.1.6 Other Types

    2. 5.2 Geography Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Rest of North America

      2. 5.2.2 Asia-Pacific

        1. 5.2.2.1 India

        2. 5.2.2.2 China

        3. 5.2.2.3 Japan

        4. 5.2.2.4 Australia

        5. 5.2.2.5 South Korea

        6. 5.2.2.6 Rest of Asia-Pacific

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 Italy

        4. 5.2.3.4 France

        5. 5.2.3.5 Spain

        6. 5.2.3.6 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Chile

        4. 5.2.4.4 Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 United Arab Emirates

        3. 5.2.5.3 South Africa

        4. 5.2.5.4 Qatar

        5. 5.2.5.5 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Panasonic Corporation

      2. 6.4.2 VARTA Consumer Batteries GmbH & Co. KGaA

      3. 6.4.3 Maxell Holdings Ltd

      4. 6.4.4 LG Chem Ltd

      5. 6.4.5 Energizer Holdings Inc.

      6. 6.4.6 PolyPlus Battery Company Inc.

      7. 6.4.7 Samsung SDI Co. Ltd

      8. 6.4.8 Battery Technology Inc.

      9. 6.4.9 Duracell Inc.

      10. 6.4.10 Jiangmen TWD Technology Co. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Shift towards Renewable Energy Storage

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Consumer Battery Industry Segmentation

Consumer batteries are portable power sources designed for consumer electronic devices. They are compact, lightweight and often come in standardized sizes and formats to fit various consumer devices, such as smartphones, laptops, cameras, remote controls, toys, and other portable electronics. Consumer batteries are typically categorized into two main types: disposable (primary) batteries and rechargeable (secondary) batteries.

The Consumer Battery Market is segmented by technology type and geography. By technology type, the market is segmented into lithium-ion batteries, zinc-carbon batteries, alkaline batteries, nickel metal hydride, nickel cadmium, and other types. The report also covers the market size and forecasts for the consumer battery market across major regions such as North America, Europe, Asia-Pacific, South America and Middle-East & Africa. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Type
Lithium-ion Batteries
Zinc-carbon batteries
Alkaline Batteries
Nickel Metal Hydride
Nickel Cadmium
Other Types
Geography Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}
North America
United States
Canada
Rest of North America
Asia-Pacific
India
China
Japan
Australia
South Korea
Rest of Asia-Pacific
Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
South America
Brazil
Argentina
Chile
Rest of South America
Middle-East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Qatar
Rest of Middle-East and Africa
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Consumer Battery Market Research FAQs

The Consumer Battery Market is projected to register a CAGR of 7.47% during the forecast period (2024-2029)

Panasonic Corporation , VARTA Consumer Batteries GmbH & Co. KGaA , Samsung SDI Co. Ltd , Duracell Inc. and PolyPlus Battery Company Inc. are the major companies operating in the Consumer Battery Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Consumer Battery Market.

The report covers the Consumer Battery Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Consumer Battery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Consumer Battery Industry Report

Statistics for the 2024 Consumer Battery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Consumer Battery analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Consumer Battery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)