Global Pin Type Lithium-Based Battery Market
Global Pin Type Lithium-Based Battery Market By Type, By Application, By Geographic Analysis And Forecast
According to Verified Market Research, the Global Pin Type Lithium-Based Battery Market is expected to be valued at USD 4,246.8 Thousand in 2018 and is expected to witness a growth of 6.13% from 2019-2026 and reach USD 6,769.1 Thousand by 2026.
Lithium-based batteries available in the market comprises of two types, namely lithium-ion batteries (rechargeable) and lithium batteries (non-rechargeable). In Lithium batteries, also known as primary batteries a pure lithium metallic element acts as an anode. A lithium battery can produce a voltage from 1.5 V to about 3V on the basis of material types used in it. On the other hand, in lithium-ion batteries also known as secondary batteries, lithium compounds are used as an anode. These batteries can be recharged many times.
A pin-type lithium-ion battery is one type of rechargeable battery available in the market. These batteries have the smallest diameter cylindrical rechargeable battery. They are developed using extremely fine components and materials as compared to standard lithium-ion batteries. These slimline pin-type lithium-ion batteries are contained in an aluminum casing and it features high reliability and rapid charging.
A wearable device also known as wearable gadgets is defined as a technology that is worn on the human body. This type of device is becoming popular as the companies have started to evolve more types of devices that are small enough to wear and that comprises powerful sensor technologies. These technologies enable the collection and delivery of information about their surroundings as well as tracking information related to health and fitness to the consumers.
A Pin‐type Lithium‐ion battery has a diameter of in the range of 3.65 mm to 4.7 mm and a weight range from 0.5g to 1.5g (Approx.). This type of battery is suitable for powering small applications such as wearable devices. The growth of the wearable technology market is expected to boost the demand for pin-type lithium-ion batteries thus, in turn driving the market.
The adoption of pin-type lithium-ion batteries is rising for both rechargeable and non-rechargeable types at a global level. Pin type lithium-ion batteries play a major role in powering various wearables such as smartwatches, hearing aids, smart glasses, fishing floats, and others. Disposal of these batteries contaminates the soil and groundwater. Also, the electrolytes used in these batteries are considered to be toxic and inflammable causing harm to the environment. Therefore, the potential risks associated with the disposal of pin-type lithium-ion batteries act as a potential restraint and is expected to hinder the growth of the market at a global level.
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