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Lithium Thionyl Chloride Battery Market Size to Witness Significant Growth (2020-2030)

 

Lithium Thionyl Chloride Battery: Introduction

·         Lithium thionyl chloride battery is considered as a primary battery. These batteries comprise a lithium metal anode and thionyl chloride as cathode. These batteries are non-rechargeable.

·         Lithium thionyl chloride battery is widely utilized as a new energy source in electronic devices. These batteries supply power to applications for several months and in some cases, years before they need to be replaced.

Key Drivers and Restraints of Global Lithium Thionyl Chloride Battery Market

·         Rise in industrialization and modernization across the globe is estimated to be a key driver of the global lithium thionyl chloride battery market during the forecast period. Use of lithium thionyl chloride batteries offers benefits such as higher operating temperature range, high energy density, and low self-discharge rate.

·         Lithium thionyl chloride batteries are non-polluting and also offer higher safety standards, which complies with UN-related safety requirements. These batteries lack mercury, cadmium, and other heavy materials in their chemical composition. Thus, safety and reliability offered by these batteries are expected to drive the market.

·         However, leakage of liquid of batteries and mishandling are some factors that are anticipated to act as a hindrance to the lithium thionyl chloride battery market

Global Lithium Thionyl Chloride Battery Market: Segmentation

·         The global lithium thionyl chloride battery market can be segmented in terms of type, battery capacity, and end-user

·         In terms of type, the global lithium thionyl chloride battery market can be segmented into bobbin cylindrical and spiral & hybrid cell. The Bobbin cylindrical segment is anticipated to account for a notable share of the global market, as it provides balance of energy and power. Furthermore, it can be customized according to the needs of the customers.

·         Based on battery capacity, the global lithium thionyl chloride battery market can be segmented into up to 5,000 mAh, 5,000 mAh - 10,000 mAh, 10,000 mAh- 15,000 mAh, and above 15,000 mAh. 5,000 mAh - 10,000 mAh and 10,000 mAh- 15,000 mAh segments are expected to account for a notable share of the global market due to higher demand from end-users.

·         Based on end-user, the global lithium thionyl chloride battery market can be segmented into automobile, aerospace, defense, medical, military, consumer electronics, and others. The medical segment is expected to expand at a significant CAGR during the forecast period. The lithium thionyl chloride battery provides long battery life. Furthermore, these batteries are lightweight, small in size, and are designed and perform in high temperature environments.

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Global Lithium Thionyl Chloride Battery Market: Regional Segmentation

·         In terms of region, the global lithium thionyl chloride battery market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa

·         North America dominated the global lithium thionyl chloride battery market owing to the significantly high number of manufacturers of these batteries in the region. Furthermore, demand for lithium thionyl chloride batteries is considerably high in medical, aerospace, and military industries. The U.S. is a major player in global medical, military, consumer electronics and aerospace industries, and the country is estimated to dominate the lithium thionyl chloride battery market in the region during the forecast period.

·         The market in Asia Pacific is projected to expand at a high CAGR during the forecast period, due to a rise in industrialization and urbanization in countries in China, India, Indonesia, and Singapore. Therefore, the demand for lithium thionyl chloride batteries is expected to increase significantly in the near future.

·         The lithium thionyl chloride battery market in Europe is anticipated to expand significantly during the forecast period. Europe is a leading region in the development related 5G infrastructure, and 5G technology requires batteries that are stable and durable. Therefore, the demand for lithium thionyl chloride batteries is anticipated to remain high in Europe during the forecast period.

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COVID Impact on the Global Lithium Thionyl Chloride Battery Market

·         Demand for lithium thionyl chloride batteries is significantly high in medical, automobile, utility, renewable, and defense industries. However, the outbreak of the COVID-19 pandemic has as disrupted the supply chain as well as availability of manpower due to the lockdown in various countries. This leads to reduction in production of lithium thionyl chloride batteries coupled with low demand from end-users, which in turn has drastically hampered the global lithium thionyl chloride battery market.

Key Players Operating in Global Market

·         Elecorev Media Pvt. Ltd

·         Saft

·         EaglePicher Technologies

·         Maxell Holdings, Ltd.

·         EVE Energy Co., Ltd.

·         Integer Holdings Corporation

·         Jauch Quartz GmbH

·         Ultralife Corporation

·         Tadiran Batteries GmbH

·         Mouser Electronics, Inc.

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