Rechargeable Button Cell Battery Market Size, Share, Growth, and Industry Growth by Type (Manganese Lithium Battery, Vanadium Pentoxide Battery, Lithium-Ion Battery, and Others), By Application (Hearing Aid, Wearable Device, Medical Device, Consumer Goods, and Others), Regional Forecast To 2031

Updated On: 22 April 2024

Rechargeable Button Cell Battery Market REPORT OVERVIEW

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The global rechargeable button cell battery market size is expanded rapidly in 2021 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2021 to 2031.

Button cells, also known as watch batteries or coin batteries, are small cylindrical single-cell batteries that resemble buttons and range from 5mm to 25mm in diameter and 1mm to 6mm in height. They are commonly used to power portable electronic devices such as calculators and wristwatches. Coin cells, which are wider than button cells, are also used for the same purpose. Electronic devices that utilize button cells are typically designed to have a prolonged service life, lasting well over a year even with continuous usage.

Button cells are known for their low self-discharge rate, meaning they can hold their charge for an extended period of time even if not in use. However, higher-power devices like hearing aids may opt for a zinc-air battery due to its larger capacity for a given size, although it has a shorter lifespan and can dry out even if not in use for a few weeks. It's important to note that button cells can be hazardous for young children, as they can cause severe internal burns and potentially lead to serious injury or death if swallowed. However with the recent developments the global rechargeable button cell battery market is expected to grow exponentially.

COVID-19 Impact: Growing Set of Applications boosted market size.

COVID-19 had a life changing impact globally. The global rechargeable button cell battery market share was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for rechargeable button cell battery experienced a major boost.

The COVID-19 pandemic has had mixed effects on the rechargeable button cell battery market. On the other hand, the pandemic has disrupted global supply chains, causing delays in the production and distribution of rechargeable button cell batteries. This has resulted in shortages and higher prices for some battery models. Additionally, the economic impact of the pandemic has caused some consumers to cut back on non-essential purchases, which could lead to a decrease in demand for rechargeable button cell batteries in some markets. However the pandemic provided more benefits to the global rechargeable button cell battery market size.

Meanwhile. there has been an increase in demand for electronic devices that use these batteries due to the rise of remote work and distance learning. This has resulted in a boost in sales for button cell batteries and the devices that use them. The pandemic has accelerated the shift to e-commerce, making it easier for consumers to purchase rechargeable button cell batteries online. The need for contactless transactions has led to an increase in the use of electronic payment devices that rely on rechargeable button cell batteries. The pandemic has highlighted the need for reliable, long-lasting batteries in medical devices such as ventilators and monitors, potentially leading to increased demand for rechargeable button cell batteries in this sector.

LATEST TRENDS

"Advances in Battery Development to Benefit Market Prospects"

There has been an introduction of new battery chemistries, such as solid-state batteries, which promise higher energy density, faster charging, and improved safety. The adoption of new manufacturing techniques, such as 3D printing and roll-to-roll production, have enabled the production of thinner, smaller, and more flexible batteries. The integration of artificial intelligence (AI) and machine learning (ML) algorithms into battery management systems, enabling them to predict battery health and optimize charging patterns.

The development of advanced battery management systems that enable users to monitor and optimize the performance of their rechargeable button cell batteries. The use of rechargeable button cell batteries in electric vehicles, as manufacturers seek to improve the performance and efficiency of their battery packs. The development of new charging technologies, such as wireless and fast charging, enable users to charge their devices more quickly and conveniently. These latest developments are estimated to build the global rechargeable button cell battery market size.

Rechargeable Button Cell Battery Market SEGMENTATION

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• By Type

Based on type, the market is divided into Manganese Lithium Battery, Vanadium Pentoxide Battery, Lithium-Ion Battery, and Others.

• By Application

Based on application, the market is bifurcated into Hearing Aid, Wearable Device, Medical Device, Consumer Goods, and Others.

DRIVING FACTORS

"Focus on Market Sustainability to Boost Market Share"

There is a growing awareness of environmental concerns, consumers and businesses are increasingly looking for sustainable solutions. This has led to an increased demand for rechargeable button cell batteries that can be reused multiple times, reducing the amount of waste generated by disposable batteries. In addition, many manufacturers are now using environmentally friendly materials in their rechargeable battery products to reduce their impact on the environment.

"Increasing Demand for Portable Electronics to Boost Market Size"

The widespread use of portable electronics such as smartphones, tablets, laptops, and wearable devices has led to an increased demand for rechargeable button cell batteries. As these devices become more advanced and energy-intensive, they require more powerful and longer-lasting batteries to ensure extended use without frequent charging. These factors are expected to drive the global rechargeable button cell battery market share. These driving factors are estimated to grow the global rechargeable button cell battery market share.

RESTRAINING FACTORS

"High Investment Costs to Hinder Market Growth"

Rechargeable button cell batteries are generally more expensive than their disposable counterparts, which can be a significant barrier to adoption, particularly in price-sensitive markets. While rechargeable batteries offer cost savings in the long run, the high initial cost can discourage some consumers from purchasing them. Furthermore, the relatively low price of disposable batteries means that some consumers may opt for single-use batteries rather than invest in rechargeable ones. This is expected to hinder the growth of the global rechargeable button cell battery market growth.

Rechargeable Button Cell Battery Market REGIONAL INSIGHTS

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"Asia Pacific Dominates the Market owing to Robust Consumer Spending Capacity"

APAC is the major shareholder for the global rechargeable button cell battery market share. The developing regions are experiencing a significant share in the maternal and infant toiletries market, attributed to robust infrastructure for coin cell manufacturing and increasing purchasing power. There has also been a notable rise in the demand for electronic devices in the region. Furthermore, there has been a growing investment in the research and development of electronic devices. North America stands as the second major shareholder.

KEY INDUSTRY PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Panasonic [Japan]
• VARTA AG [Germany]
• Shenzhen Grepow Battery [China]
• ICAPE Group [France]
• GP Industries Limited [Singapore]
• Maxell [China]
• Renata Batteries [Switzerland]
• Chongqing VDL Electronics [China]
• Guangzhou Great Power Energy [China]
• NANFU [China]
• Cornell Dubilier [U.S.]
• Seiko [Japan]
• Powerone [India]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.