PUBLISHER: Allied Market Research | PRODUCT CODE: 1414756
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414756
According to a new report published by Allied Market Research, titled, "Micro Battery Market," The micro battery market was valued at $0.5 billion in 2022, and is estimated to reach $4 billion by 2032, growing at a CAGR of 21.6% from 2023 to 2032.
Micro Batteries are a type of battery that is used in a wide type of electronic devices. They are frequently found in tiny electrical devices like watches and hearing aids. Some bigger electrical gadgets, including laptops and cell phones, also use micro batteries.
Micro batteries are composed of many tiny cells joined together. A separator is used to keep the two electrodes apart in these cells, which are composed of a positive and a negative electrode. The substance that makes up the separator allows ions to pass through but not electrons. Ions can move between the electrodes as a result, but electrons cannot. Micro batteries are made up of series-connected cells, where the total voltage of the cells in the battery is the result of this arrangement. Counting the number of cells in series determines the micro battery's capacity.
Lithium-ion cells are commonly used in the production of micro batteries. Lithium-ion batteries can store a lot of energy in a little amount of area because of their high energy density. Additionally, lithium-ion batteries do not gradually lose their charge due to their low self-discharge rate. By connecting them to a power source, such a USB port, micro batteries may be recharged.
The development of new technologies, the increasing demand for miniaturization, and the growing need for high energy density are some of the major trends in the micro battery industry. The market is driven by the necessity for high power density in a tiny form factor and the growing desire for electronic device miniaturization. The increasing popularity of micro batteries in industrial, automotive, and consumer electronics applications is another factor propelling the market.
The use of nanomaterials to enhance battery performance, the creation of novel electrolyte materials, and the use of innovative production methods to raise the productivity and economic viability of micro batteries are some of the most recent developments in the field.
The micro battery market is segmented into type, application, battery type, and region. By type, the market is classified into button batteries, thin film batteries, printed batteries, and solid-state chip batteries. By application, it is bifurcated into consumer electronics, medical devices, smart packaging, smart cards, wireless sensors, and others. By battery type, it is divided into primary and secondary. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
Competitive analysis and profiles of the major global micro battery market players that have been provided in the report include Panasonic Corporation, Murata Manufacturing Co Ltd., TDK Corporation, Maxell, Ltd., VARTA AG, Enfucell, Duracell, Molex, Renata, and Seiko Instruments Inc. The key strategies adopted by the major players of the micro battery market are product launch.
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