Lithium Thionyl Chloride (Li-SOCl2) Battery Market to Grow with a CAGR of 15.19% through 2028
Growing demand for high-energy-density power sources
and advancements in battery technology are likely to drive the market in the
forecast period.
According to TechSci Research report, “Lithium
Thionyl Chloride (Li-SOCl2) Battery Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Lithium
Thionyl Chloride (Li-SOCl2) Battery Market stood at USD 8.08 billion in 2022
and is anticipated to grow with a CAGR of 15.19% in the forecast period.
One of the primary drivers propelling the global
Lithium Thionyl Chloride (Li-SOCl2) Battery market is the exceptional energy
density and long-lasting performance offered by these batteries. Li-SOCl2
batteries are renowned for their ability to store a significant amount of
energy within a compact and lightweight package. This high energy density makes
them a preferred choice for applications that require extended operational
lifespans and minimal maintenance. In industries such as remote monitoring, oil
and gas, and industrial automation, where continuous and reliable power is
crucial, Li-SOCl2 batteries excel. Their ability to operate at a consistent
voltage over an extended period ensures uninterrupted functionality of devices
and equipment. This feature is particularly valuable in remote and inaccessible
locations where frequent battery replacements are impractical or costly. Moreover,
Li-SOCl2 batteries have an impressively low self-discharge rate, allowing them
to remain dormant for extended periods and still deliver power when needed.
This longevity and reliability make Li-SOCl2 batteries a preferred choice,
driving their adoption in a wide range of critical applications, including
sensors, meters, and data loggers, among others.
The proliferation of the Internet of Things (IoT) is
another significant driver fueling the global Li-SOCl2 Battery market. IoT is
transforming various industries by connecting devices and enabling data
collection and analysis for improved decision-making. Many IoT devices, such as
remote sensors and communication modules, rely on reliable and long-lasting
power sources to function effectively. Li-SOCl2 batteries are well-suited for
IoT applications due to their high energy density and extended operational life.
IoT deployments often involve devices placed in remote or harsh environments,
making battery replacement challenging. Li-SOCl2 batteries address this
challenge by providing a power source that can last for years, reducing the
need for frequent maintenance. Industries like agriculture, environmental
monitoring, and asset tracking leverage IoT technology for real-time data
collection and analytics. Li-SOCl2 batteries play a critical role in powering
these devices, ensuring that they can operate autonomously for extended periods
without interruptions. As the IoT ecosystem continues to expand across various
sectors, the demand for Li-SOCl2 batteries is expected to grow, making them a
key driver in the global battery market.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Lithium
Thionyl Chloride (Li-SOCl2) Battery Market.”
The Global Lithium Thionyl Chloride (Li-SOCl2) Battery
Market is segmented into type, application, battery capacity and region.
Based on type, The Bobbin Cylindrical segment had the
largest market share in 2022 & expected to maintain it in the forecast
period. Bobbin cylindrical Li-SOCl2 batteries have a track record of
reliability and longevity. They are known for their stable voltage output over
a wide range of operating conditions, making them a dependable power source for
critical applications. The bobbin cylindrical design is well-established and
has been in use for many years. This design has undergone refinement and
optimization, leading to consistent performance and safety features that meet
the stringent requirements of various industries. Bobbin cylindrical Li-SOCl2
batteries are versatile and can be used across a wide range of industries and
applications. They are commonly employed in industrial automation, remote
monitoring systems, utility metering, and other fields where long operational
life and reliability are paramount. These batteries offer high energy density,
which means they can store a significant amount of energy in a compact form factor.
This is particularly advantageous in applications with limited space for
battery installation. Bobbin cylindrical Li-SOCl2 batteries have an
exceptionally low self-discharge rate. They can remain dormant for years while
retaining their energy, making them suitable for devices that may need to sit
idle for extended periods before activation. The production processes for
bobbin cylindrical Li-SOCl2 batteries have been optimized for
cost-effectiveness. This has contributed to their competitiveness in the market,
especially in applications where cost efficiency is a critical factor.
Based on application, The Utility Metering segment had
the largest market share in 2022 and is projected to experience rapid growth
during the forecast period. Utility meters are typically deployed in the field
and often require long-term, unattended operation. Li-SOCl2 batteries are
renowned for their extended operational life, which can span several years
without needing replacement. This characteristic aligns perfectly with the
requirements of utility metering, where frequent battery changes would be impractical
and costly. Li-SOCl2 batteries offer
high reliability and stability in terms of voltage output. Utility meters
require consistent and accurate power to ensure precise measurements and data
collection. Li-SOCl2 batteries' dependable performance makes them a trusted
choice in this application. Utility meters are often installed in remote or
hard-to-reach locations. Li-SOCl2 batteries have an exceptionally low
self-discharge rate, meaning they can remain dormant for extended periods while
retaining their energy. This property ensures that the batteries remain viable
even when meters are not actively transmitting data. Li-SOCl2 batteries can
operate effectively in a broad range of temperature conditions, including
extreme cold and heat. Utility meters are frequently deployed outdoors and may
face temperature variations, making Li-SOCl2 batteries a reliable choice.
Utility metering systems rely on accurate and consistent data collection.
Major companies operating in the Global Lithium
Thionyl Chloride (Li-SOCl2) Battery Market are:
- Maxell, Ltd.
- Ultralife Corporation
- Energizer Holdings, Inc.
- FDK Corporation
- Tadiran Batteries GmbH
- Eve Energy Co., Ltd.
- Panasonic Holdings Corporation
- Saft Groupe SA
- EaglePicher Technologies
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“The Global Lithium Thionyl Chloride (Li-SOCl2)
Battery market is expected to rise in the upcoming years and register a
significant CAGR during the forecast period. Li-SOCl2 batteries are used in a variety
of military and aerospace applications, such as night vision goggles, missile
seekers, and aircraft transponders. These batteries are highly reliable and can
operate in extreme environments. Li-SOCl2 batteries are used in a variety of
medical devices, such as pacemakers, implantable drug pumps, and glucose
monitoring devices. These batteries are long-lasting and have a high energy
density, making them ideal for use in medical devices. Also, Li-SOCl2 batteries are also used in a variety
of industrial applications, such as security systems, oil and gas exploration,
and environmental monitoring. These batteries are able to operate in a wide
range of temperatures and can withstand harsh conditions. Therefore, the
market of Lithium Thionyl Chloride (Li-SOCl2) Battery is expected to boost in
the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Lithium Thionyl Chloride (Li-SOCl2) Battery Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented
By Type (Bobbin Cylindrical, Spiral, Hybrid Cell), By Application (Utility
Metering, Tracking Devices, Automotive, Alarm & Security Systems,
Industrial Automation, Military, Others), By Battery Capacity (550mAh,
1200-2700mAh, 3600-8500mAh, Greater Than 19000mAh), By Region, By Competition”, has evaluated
the future growth potential of Global Lithium Thionyl Chloride (Li-SOCl2)
Battery Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Lithium Thionyl Chloride
(Li-SOCl2) Battery Market.
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