Coin Cell Batteries Market Sales to Top USD 6.36 Bn by 2033

Tajammul Pangarkar
Tajammul Pangarkar

Updated · May 3, 2024

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Introduction

The global coin cell batteries market, valued at approximately USD 4.5 billion in 2023, is forecasted to expand to around USD 6.3 billion by 2033, growing at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2033. This market growth is primarily attributed to the increasing demand for compact and reliable energy storage solutions, especially in portable electronic devices and medical applications. Coin cell batteries are particularly favored for their compact size, high energy density, and ability to provide stable power, making them ideal for various applications including watches, medical devices, and hearing aids.

Several challenges, however, could impede market growth, including the rising costs of key raw materials such as lithium, which is essential for the manufacture of many coin cell batteries. This increase in raw material costs could potentially restrain market expansion during the forecast period. Nonetheless, there are significant opportunities for growth in the adoption of coin cell batteries in innovative sectors such as IoT devices and smart wearables, driven by ongoing advancements in technology and an increased focus on renewable energy solutions.

Recent developments within the industry include strategic acquisitions by major players aimed at expanding their product portfolios and enhancing their market position. Duracell Inc. has been active in acquiring businesses to strengthen its position in the battery market. A recent significant development in the industry was when Energizer Holdings, Inc. acquired VARTA Consumer Batteries, adding to its portfolio of battery technologies and expanding its market reach​

Panasonic Holdings Corporation, Toshiba Corporation, and Murata Manufacturing Co., Ltd. continue to innovate and expand their market presence. These companies have focused on enhancing their product lines and entering new markets to stay competitive. For instance, Toshiba’s involvement in significant mergers has been a critical part of its strategy to enhance its technological capabilities and market share​

Further, companies like Seiko and Renata AG have maintained their competitive edge by focusing on technological advancements and global market expansion strategies. These strategies include developing new and improved battery solutions to meet the growing demand across various applications such as medical devices, automotive, and consumer electronics​

Key Takeaways

  • Market Growth: The Coin Cell Batteries Market is projected to achieve a substantial milestone, with estimations suggesting it will reach a value of USD 6.3 billion by the year 2033. This growth trajectory is underpinned by a steady Compound Annual Growth Rate (CAGR) of 3.5% from 2023 to 2033.
  • Lithium Dominance: Among the various types of coin cells available, lithium coin cells emerge as the dominant choice, capturing a substantial 36.8% market share in 2023.
  • Versatile Applications: Coin cell batteries find versatile applications across a diverse range of industries and sectors. With a notable 44.7% market share in 2023.
  • Asia Pacific Leadership: The Asia Pacific region emerges as a frontrunner in the coin cell batteries market, boasting a commanding 40.1% market share.
Coin Cell Batteries Market

Coin Cell Batteries Statistics

  • A button cell, watch battery, or coin battery is a small single-cell battery shaped as a squat cylinder typically 5 to 25 mm (0.197 to 0.984 in) in diameter and 1 to 6 mm (0.039 to 0.236 in) high – resembling a button.
  • The built-in spring gives a good grip on the coin cell. On the back side is a black and red 2 mm banana plug, to easily connect a standard PalmSens sensor cable.
  • A normal anode-free coin cell’s capacity drops to zero within 20 cycles, while the more compressed cell retains 150 mAh g−1 at the 20th cycle, which is 87.3% of the first cycle discharge capacity.
  • All these lithium cells are rated nominally 3 volts (on-load), with an open-circuit voltage of about 3.6 volts
  • Microbattery carries the largest selection of 3v lithium coin cell batteries, including Sony, Maxell, Panasonic, Renata, and Toshiba. We stock over 15 million cells and offer free shipping on orders over $40.
  • The capacity of coin cell batteries is measured in milliampere-hours (mAh), with typical values ranging from 10 mAh to 1,000 mAh.
  • Standard lithium coin batteries typically operate between -30°C to 70°C (-22°F to 158°F)
  • The voltage drop is minimal compared to the standard lithium coin batteries even when stored for over 100 days at 85ºC
  • The compatible operating temperature for typical electronic parts and ICs ranges between -40ºC and 85ºC (The operating temperature range of standard lithium coin batteries is −30ºC to 70ºC)

Emerging Trends

Emerging trends in the coin cell batteries market reflect significant advancements and shifts in technology and consumer preferences. One notable trend is the increasing adoption of rechargeable coin cell batteries, which are gaining popularity due to their cost-effectiveness over multiple use cycles and their environmental benefits. These batteries are particularly appealing in applications where frequent replacement is cumbersome or costly.

The integration of coin cell batteries in wearable IoT-based devices is another key trend. As consumer electronics continue to miniaturize, there is a growing demand for compact power sources that can operate efficiently in small spaces. Coin cell batteries are ideal for powering smartwatches, fitness trackers, and medical devices due to their small size and reliable power output. This trend is driven by the broader adoption of wearable technologies and smart devices, which require dependable and long-lasting power solutions.

Furthermore, advancements in battery materials and chemistry are playing a crucial role in the evolution of the coin cell batteries market. Researchers are focusing on alternative chemistries, such as lithium iron phosphate (LFP), which offers a balance of performance and cost. These materials are becoming more common in various battery applications due to their lower cost and improved safety profiles compared to traditional lithium-ion batteries.

Additionally, the market is experiencing a shift towards green and sustainable technologies. Governments and consumers are increasingly favoring products that minimize environmental impact, prompting manufacturers to innovate in ways that reduce the ecological footprint of their batteries. This includes enhancing the recyclability of coin cell batteries and reducing the use of hazardous materials.

Overall, the coin cell batteries market is being shaped by these trends towards sustainability, technological integration in wearables, and material innovation, all of which are expected to drive market growth and development in the coming years.

Use Cases:

  • Consumer Electronics: Coin cell batteries are extensively used in consumer electronics for powering devices such as wristwatches, hearing aids, calculators, and remote controls. The demand in this segment is primarily driven by the compact size and long shelf-life of these batteries, making them ideal for small, portable devices.
  • Medical Devices: Another critical application is in the medical field, where coin cell batteries are used in devices like glucose monitors, digital thermometers, and wearable health monitors. The reliability and long life of coin cell batteries are crucial for the functioning of these life-saving devices.
  • Automotive and Industrial Applications: In the automotive sector, coin cell batteries are used in key fobs and TPMS (Tire Pressure Monitoring Systems). Industrially, they find applications in tracking systems and safety monitors.
  • Smart Technology: With the rise of IoT (Internet of Things), coin cell batteries are increasingly used in smart home devices and wearables. These batteries are valued for their ability to fit into compact spaces and provide reliable power over extended periods, which is essential for devices that need to communicate wirelessly and operate continuously without frequent battery replacements.
  • Retail and Portable Devices: The retail sector heavily relies on coin cell batteries for powering small electronic devices that require high energy density and longer battery life. Portable electronic devices, a rapidly growing segment due to consumer preference for mobility and convenience, also heavily utilize these batteries.

Key Players Analysis

Duracell Inc. has been actively enhancing the safety features of its coin cell batteries, particularly focusing on child safety through innovations such as a non-toxic, bitter coating on their lithium coin batteries (sizes 2032, 2025, and 2016). This innovation aims to deter children from swallowing the batteries, which can cause serious harm within hours. Duracell’s commitment to safety is evident in its product design, which includes secure packaging that requires tools to open, ensuring that the batteries are less accessible to children. These efforts reflect Duracell’s dedication to providing reliable and safe battery solutions in the coin cell market​.

Panasonic Holdings Corporation has made significant contributions to the coin cell batteries sector, particularly through innovations in lithium coin batteries. These batteries are designed for a variety of applications including remote keyless entry systems, IoT devices, and medical equipment, showcasing their adaptability and reliability. Panasonic’s coin cell batteries are known for their high safety standards, energy density, and longevity, supporting trends toward device miniaturization and increased functionality. Their CR Series batteries, in particular, are tailored for high-drain applications due to their robust performance characteristics. Panasonic continuously advances in this field, integrating sophisticated material formulations and structural innovations to enhance battery performance and safety.

Toshiba Corporation is actively involved in the coin cell batteries sector, particularly through their development and production of advanced SCiB™ rechargeable lithium-ion batteries. These batteries are notable for their safety, long life, and ability to recharge rapidly. Toshiba’s technology allows these batteries to operate efficiently in low temperatures, which makes them versatile for various applications including industrial equipment and emergency power systems. The company focuses on innovation in battery technology, aiming to enhance the performance and safety of its products, thereby supporting a wide range of industries with reliable energy solutions.

Hitachi, Ltd. has made significant advancements in the coin cell batteries sector, focusing particularly on the development of high-tech solutions for lithium-ion batteries. They utilize cutting-edge technologies in electron microscopy and material analysis to enhance the performance and safety of these batteries. Hitachi’s contributions are crucial in various high-demand applications such as electric vehicles and industrial equipment, where reliable and efficient energy solutions are critical. Their efforts in battery innovation demonstrate a strong commitment to advancing battery technology and sustainability in the energy sector.

Energizer Holdings, Inc., a major player in the coin cell batteries market, has taken significant steps to ensure the safety of its products, particularly in preventing battery ingestion among children. They have introduced child-resistant packaging for their coin lithium batteries, which includes durable materials and clear warning icons that discourage children from accessing the batteries. This initiative is part of Energizer’s broader commitment to safety and consumer education, focusing on reducing the risks associated with battery ingestion.

Seiko has been proactive in the coin cell batteries sector, particularly emphasizing environmental responsibility and advanced technology. They switched to mercury-free batteries in their products well ahead of regulatory changes, showcasing their commitment to sustainability. Seiko’s batteries are designed to perform effectively in a broad temperature range and feature enhanced leakage resistance, qualities achieved through their innovative manufacturing processes. This approach not only demonstrates Seiko’s leadership in environmental sustainability but also ensures high-quality and reliable battery performance in their watches and other devices.

Murata Manufacturing Co., Ltd. is a key player in the coin cell batteries market, particularly known for its innovative battery technology and environmental stewardship. Murata’s batteries, including their mercury-free variants, exemplify their commitment to sustainability, meeting global regulatory standards well ahead of schedule. These batteries are noted for their high quality, maintaining stable voltage and demonstrating low leakage across a wide temperature range. Murata’s approach to battery manufacturing combines environmental responsibility with technological advancement, ensuring that their products are both high-performing and eco-friendly.

Renata AG SA is a notable player in the coin cell batteries sector, distinguished for its precision engineering and focus on quality. Specializing in the production of miniature batteries, Renata AG SA delivers reliable power solutions for a variety of applications, from consumer electronics to medical devices. With a strong emphasis on innovation and efficiency, Renata AG SA continually invests in research and development to stay at the forefront of battery technology. As a market research analyst, it’s evident that Renata AG SA’s contributions to the coin cell batteries market drive advancements in miniaturization and energy density, catering to the evolving needs of industries worldwide.

EM Microelectronic is a notable player in the coin cell batteries sector, recognized for its expertise in semiconductor technology and power management solutions. Specializing in ultra-low power consumption, EM Microelectronic develops coin cell batteries optimized for energy efficiency and longevity. With a focus on miniaturization and integration, EM Microelectronic’s batteries are tailored to meet the demands of compact electronic devices, including wearables and IoT sensors. As a market research analyst, it’s evident that EM Microelectronic’s contributions to the coin cell batteries market drive advancements in power optimization, enabling the development of smaller, smarter, and more energy-efficient devices across various industries.

Conclusion

In conclusion, the global coin cell batteries market is positioned for consistent growth, projected to expand from approximately USD 4.5 billion in 2023 to around USD 6.3 billion by 2033. This growth, at a compound annual growth rate (CAGR) of 3.5%, is driven by the increasing demand for small, high-performance power sources across a variety of applications, from consumer electronics to medical devices.

The market is diverse, encompassing a range of battery types including alkaline, lithium, silver oxide, and zinc-air, each catering to specific requirements and applications. Silver oxide batteries are particularly noted for their stable voltage and are preferred for precision devices such as medical instruments and hearing aids. Meanwhile, lithium coin cell batteries are prized for their long lifespan and high energy density, making them suitable for a broad spectrum of devices from watches to calculators​​​​.

Regionally, Asia Pacific leads the market, bolstered by significant electronics manufacturing and consumption. This region is expected to continue its dominance due to ongoing technological advancements and the increasing integration of electronic devices into daily life​​​​.

Overall, the coin cell battery market is thriving due to its critical role in powering a wide array of devices that are integral to modern technology and lifestyle, underscoring the importance of continuous innovation and adaptation in this sector.

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Tajammul Pangarkar

Tajammul Pangarkar

Tajammul Pangarkar is a tech blogger that frequently contributes to numerous industry-specific magazines and forums. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and in raising a general awareness of technical know-how. When he’s not ruminating about various happenings in the tech world, he can be usually found indulging in his next favorite interest - table tennis.

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