Northbrook, IL 60062 -- (SBWire) -- 11/21/2023 --The global Micro Battery Market Size is expected to grow from USD 0.5 Billion in 2023 to USD 1.3 Billion by 2028, at a CAGR of 22.4% from 2023 to 2028.
Micro batteries, such as thin film and printed batteries, are designed to complement products requiring an onboard ultra-thin power supply. Printed batteries offer flexibility and are available in thin and ultra-thin sizes, allowing them to be integrated as a power source in various applications, such as smart packaging, smart cards, wearable devices, consumer electronics, and medical devices. Moreover, advancements in thin film and printed batteries have resulted in new emerging application areas, such as smart textiles, wireless sensors, and energy-harvesting devices.
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Primary battery segment is expected to hold a substantial market share during the forecast period
Primary or single-use batteries are non-rechargeable batteries that are discarded once used. These batteries are supplied fully charged and discarded after use. Most printed batteries built on zinc-based materials, in particular, are typically primary batteries. Primary batteries are prominently used in applications wherein the recharging of the battery is impossible. These batteries are integrated into the products and do not require recharging. They play an essential role, especially when charging is impractical or impossible, for instance, in pacemakers of heart patients and smart meters. Also, these batteries are disposable and less hazardous as they do not contain cadmium, lead, and mercury, which are hazardous to the environment and human health.
The market for consumer electronics is projected to grow at an impressive CAGR during the forecast period
Micro batteries are increasingly used in consumer electronics applications such as low-drain devices, wearables, calculators, and remote controls. The application of thin film, printed, coin/button, and solid-state chip batteries in consumer electronic devices are driven by the miniaturization of electronic products and rising demand for flexible electronic devices. Thin film batteries can power portable consumer electronic products. They can also conform to the flexible design of portable electronic devices. Micro batteries are being used in low-power consumer electronic devices, which require a flexible, ultra-thin power source. Integrating printed batteries in the place of conventional batteries could make the product flexible, eventually leading to the use of printed batteries in portable consumer electronic products. Button/coin batteries are used in various consumer electronics such as watches, wearables, remote controls, and more.
The market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2028
The market in Asia Pacific mainly comprises developing economies, such as China and India, which have a huge potential for the growth of the micro battery market. Increasing demand for IoT devices and portable consumer electronic devices in countries such as China, India, Japan, and South Korea drives the market for micro batteries in the region. The popularity of next-generation smart cards is also rapidly increasing in this region. All these developments have, in turn, led to the increased demand for flexible batteries in smart cards. The market for micro batteries in Asia Pacific is expected to grow due to the need for smart packaging, wearable devices, and consumer electronics from the major countries in this region.
Key Market Players
Cymbet Corporation (US), Enfucell (Finland), Ultralife Corporation (US), Molex, LLC (US), Panasonic Holdings Corporation (Japan), Murata Manufacturing Co., Ltd. (Japan), TDK Corporation (Japan), Maxell, Ltd. (Japan), VARTA AG (Germany), Renata SA (Switzerland), and Duracell Inc. (US) among others are among a few key players in the micro battery companies.
Micro Battery Market Size, Share & Trends Analysis 2028