Research Nester has released a report titled “Lithium Thionyl Chloride Battery Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the lithium thionyl chloride battery market in terms of market segmentation by type, by battery capacity, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The lithium thionyl chloride battery market is segmented by type into bobbin cylindrical, spiral and hybrid cells, out of which, bobbin cells segment is anticipated to hold largest market share on the back of factors such as the ability to provide a balance of greater energy and power, coupled with advanced customization of the batteries based on the need of the device manufacturing organizations.
The market is further segmented by application into utility metering, tracking devices, automotive, alarm & security systems, industrial automation, office automation, instrumentation, medical, off-shore, and military, out of which medical segment is anticipated to record significant market share on the back of growing demand for the batteries in medical devices, such as bone healers, oxygen meters, glucose monitors, sterilizable devices, cold chain devices, and others, owing to their long battery life, small size, lightweight, ergonomically designed and also the ability to undergo extreme high and low temperatures.
The lithium thionyl chloride battery market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027. Rising demand for hand held or wireless devices which are powered by primary battery source, coupled with increasing sales of primary lithium batteries, is estimated to promote the demand for lithium thionyl chloride battery market throughout the forecast period. In the statistics provided by Battery Association of Japan, the sales of primary lithium battery in the nation peaked 989 million units from 866 million units in-between 2012 and 2017.
Regionally, the lithium thionyl chloride battery market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is expected to have largest market share on account of numerous lithium thionyl chloride battery manufacturers in the region, added with the growing medical devices industry. In the statistics provided by International Trade Administration (ITA), U.S. Department of Commerce, the tag for largest medical device market in the world still remains with the United States for the year 2017.
Rise in Applications Using Primary Lithium Batteries
In the statistics provided by the Department of Business, Energy & Industrial Strategy, Government of United Kingdom, domestic and non-domestic meters installed by large and small energy suppliers for total of gas and electricity peaked 5,063,313 units from 535,160 units in-between 2014 and 2018.
There is a rise in the deployment of utility meter devices across nations. Additionally, there are many such new devices being manufactured and deployed with the advancements in technology in various industrial sectors. With greater deployment of varied devices, lithium thionyl chloride battery is also finding ample applications in these devices, owing to their key features, such as low self-discharge rate, high energy density, greater operating temperature, and others, coupled with their light weight, small size and ergonomic designs. The rising utilization of such battery type in various devices across industry verticals is anticipated to promote the growth of the lithium thionyl chloride battery market during the forecast period.
However, concern for lithium thionyl chloride battery, which can be used only as a primary battery power source, is largely affected by the opportunity lying behind the huge application of secondary battery types across devices. Additionally, dangers associated to mishandling of the battery and the fear of leakage of battery liquid which is expected to operate as key restraints to the growth of the lithium thionyl chloride battery market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the lithium thionyl chloride battery market, which includes company profiling of Elecorev Media Pvt. Ltd., Spectrum Batteries, Inc., Saft, EaglePicher Technologies, Ultralife Corporation (NASDAQ: ULBI), Maxell, Ltd. (TYO: 6810), Tadiran Batteries GmbH, EVE Energy Co. Ltd. (SHE: 300014), Jauch Quartz GmbH, and Integer Holdings Corporation (NYSE: ITGR). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the lithium thionyl chloride battery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.