The global disposable battery market is projected to grow at a substantial rate in the upcoming years. The increased use of disposable batteries in the daily used gadgets, long shelf life, and environment friendly nature of these batteries are some of the major factors that is going to drive the global disposable batteries market. However, the increased awareness about environment protection is expected to restrain the global disposable battery market. The batteries are used for only one time and after that they are dumped in the landfills. Also, these batteries use heavy metals and strong acids, which make them hazardous waste. Governments across the world are imposing strict policies about the disposal of hazardous waste and increase in awareness toward environment is expected to restrain the disposable battery market.
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- Improved performance and efficiency of the batteries.
The global disposable battery market is increasing in the recent times. This is due to the reason that it finds its application in the daily use devices like wall clocks, radio, toys, and TV remotes. The widespread use of these gadgets in the recent time has increased the demand for disposable batteries globally and hence, the market is expected to increase.
- Upper hand on the rival batteries
Disposable batteries have longer life compared to that of rechargeable. It is expected that alkaline battery will work twice longer as compared to that of rechargeable battery and hence, this makes the battery useful for low drain devices. Adding to that, disposable batteries have price lower than that of rechargeable batteries, which makes them the first choice of consumers.
- Higher demand in developing economies such as China and India, has surged the market demand.
Developing economies such as India and China, are investing in development of the electronic sector. This has resulted in increased demand for the electronic devices such as TV, AC, computers, and laptops in recent times and this has indirectly affected the market of disposable batteries.
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Covid-19 Impact Analysis
- The coronavirus’s unfavorable global effects are already evident, and they will have a big impact on the disposable batteries in 2020.
- The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in huge deaths across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy’s already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- Since the pandemic, the restriction of imports and exports has affected the disposable batteries market to a great extent as the consumers’ consumption and demand patterns are changing amid the pandemic.
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