Market Research Report
Micro Battery Market with COVID-19 Impact Analysis by Type (Thin-film, Printed, Solid-state Chip, Button Battery), Capacity, Rechargeability, Application (Medical Devices, Consumer Electronics, Smart Packaging) and Geography - Global Forecast to 2026
|Published by||MarketsandMarkets||Product code||1018644|
|Published||Content info||208 Pages
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|Micro Battery Market with COVID-19 Impact Analysis by Type (Thin-film, Printed, Solid-state Chip, Button Battery), Capacity, Rechargeability, Application (Medical Devices, Consumer Electronics, Smart Packaging) and Geography - Global Forecast to 2026|
|Published: July 13, 2021||Content info: 208 Pages||
The global micro battery market size is estimated at USD 326 million in 2021. It is projected to reach USD 842 million by 2026; it is expected to grow at a CAGR of 20.9% from 2021 to 2026. The growth of the micro battery market is driven by factors such as the use of printed flexible batteries in medical devices to treat COVID-19 patients, several advantages offered by micro batteries over traditional batteries, increasing adoption of wearable devices, growing use of micro batteries in medical and electronic devices, and demand for thin and flexible batteries in IoT applications.
"The market for solid-state chip batteries to witness high-growth potential during the forecast period"
The market for solid-state chip batteries is expected to grow at a significant rate between 2021 and 2026. These batteries possess superior safety, longer lifespan, and high reliability as it uses non-flammable, stable, and solid electrolyte materials instead of a liquid. This eliminates the risk of fire and leakage. Lithium-ion batteries that have high energy density are commonly used today in electronic devices such as electric bikes, drones, and communication devices. However, as these batteries are made up of a flammable, organic solvent electrolyte, they carry a risk of leakage and fire. This has created a need for safer power and more reliable solid-state batteries containing non-flammable and safe electrolyte materials among the IoT device makers. This is expected to drive the demand for solid-state chip batteries over the forecast period.
"The micro battery market for consumer electronics to grow at highest CAGR during the forecast period"
The micro battery market for consumer electronics is expected to grow at the highest CAGR between 2021 and 2026. The consumer electronics industry is now moving toward the development of miniaturized electronic devices with flexible, thin, and large-area form factors. Wearable devices such as smartwatches, fitness bands, wrist straps, smart glasses, and smart rings, and bracelets require ultra-thin batteries to comply with the flexibility of the device. Conventional batteries may fulfill the energy requirements of wearable products, but they face problems in terms of flexibility, weight, and thickness. Wearable devices require an ultra-thin power source to comply with their design and flexibility. Due to these requirements, micro batteries are increasingly being used in these devices.
"APAC to be the largest market for micro batteries during the forecast period"
The APAC region is estimated to account for the largest share of the overall micro battery market. Major manufacturers of wearable devices and consumer electronics in this region are miniaturizing their product designs, which require micro power sources for compatibility with the miniaturized designs. Also, technology advancements in smart packaging (such as the use of printed RFID tags and smart labels in packages), as well as the adoption of medical devices, mainly pacemakers, drug delivery systems and medical patches, which require lightweight, flexible, and safe power sources, are fueling the growth of micro batteries in the APAC region.
Key players in the market include Blue Spark Technologies (US); Cymbet Corporation (US); Enfucell Oy (Finland); Front Edge Technology, Inc. (US); Molex (US); Panasonic Corporation (Japan); Shenzhen Grepow Battery Co., Ltd. (China); TDK Corporation (Japan); Ultralife Corporation (US); VARTA AG (Germany); Murata Manufacturing Co., Ltd. (Japan); Seiko Instruments (Japan); Maxell Holdings, Ltd. (Japan); Renata SA (Switzerland); Duracell Inc. (US); BrightVolt Solid State Batteries (US); Power Paper Ltd. (Israel); Jenax Inc. (South Korea); Energy Diagnostics Limited (UK); Guangzhou Fullriver Battery New Technology Co., Ltd. (China); Imprint Energy (US); Prologium Technology Co., Ltd. (Taiwan); Excellatron Solid State, LLC (US); GMB Co., Ltd. (China); and Iten SA (France).
The global micro battery market is segmented on the basis of type, rechargeability, capacity, application, and geography. The market based on type is segmented into button battery, thin-film battery, printed battery, and solid-state chip battery. Based on rechargeability, the market is segmented into primary battery and secondary battery. Based on capacity, the market is segmented into below 10 mAh, Between 10 mAh & 100 mAh, and above 100 mAh. Based on application, the market is segmented into consumer electronics, medical devices, smart packaging, smart cards, wireless sensor nodes, and others. The micro battery market is segmented into four regions-North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).