by Silver oxide batteries have a stable cell voltage and a high energy density that is ideal for powering small electronic devices. The batteries find widespread application in memory backup for electronics such as watches, calculators, radios and remote controls due to their ability to self-discharge slowly over time while maintaining the data and settings.
The global silver oxide battery market is estimated to be valued at US$ 22 Mn in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing demand for backup power solutions is one of the major factors driving the growth of the global silver oxide battery market. Silver oxide batteries provide longer backup than conventional alkaline batteries and are increasingly being used as backup power sources for devices such as alarm clocks, medical devices and basic calculators. Their ability to deliver sustained power even after long periods of no use makes them ideal for powering devices that require backup power. Rise in demand for IoT devices and sensors that require long-lasting backup batteries is another key trend fueling the silver oxide battery market growth. The batteries are well-suited to power low-drain sensors and devices used in smart home automation systems and industrial IoT solutions.
SWOT Analysis
Strength: Silver oxide batteries have high energy density and are therefore lightweight. They can provide power for a long duration on a single charge.
Weakness: Silver oxide batteries have low electrochemical potential and poor charging efficiency. They also have a limited shelf life as self-discharge steadily reduces the charge over time even when not in use.
Opportunity: Growing demand for small long-life batteries for applications such as medical devices, toys, and watches presents an opportunity for silver oxide battery manufacturers.
Threats: Other lithium battery technologies offer higher energy densities and are becoming more competitive in applications currently dominated by silver oxide batteries. Stringent environmental regulations around the use of silver pose a threat.
Key Takeaways
Global Silver Oxide Battery Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global silver oxide battery market is estimated to be valued at US$ 22 Mn in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2024 to 2031.
Asia Pacific currently dominates the market owing to the large consumer electronics industry in countries such as China, Japan, and South Korea. Countries like China and Japan are also major producers of silver oxide batteries with a well-established manufacturing base.
Key players operating in the silver oxide battery market are Toshiba Electronic Devices & Storage Corporation (Toshiba Corp.), and Hitachi Power Semico. These players are focusing on developing advanced battery chemistries and production processes to improve performance parameters and reduce costs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
