Micro Battery Market Trends, Dynamic Growth & Forecast To 2027
As per the MRFR report, the global Micro Battery Market Size is projected to reach USD 636 Million by 2025, with 26.7% CAGR over the assessment period (between 2019 and 2025).
The major factors driving the growth of the global micro battery market share are the inherent advantages of solid-state micro-batteries, development in wearable device adoption, and the need for lightweight medical device batteries. The facility has provided an annual capacity of 10 million parts, which has increased in the first few months. The incorporation of micro-batteries into smart textiles, however, will serve as an incentive for players in the micro battery market trends. However, the technological limitations of micro batteries and high capital investment are expected to restrict the growth of the demand for micro batteries.
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The global market, depending on part, comprises electrodes, electrolytes, substrates, current collectors, and others. The section of electrolytes is predicted to have the largest share over the prognosis period.
The global market is segmented by form into thin-film batteries, solid-state chip batteries and printed batteries. Over the assessment period, the thin-film battery is expected to experience the highest CAGR as thin-film batteries are rechargeable and demand higher, as many devices and applications need rechargeable batteries with a long service life.
The global demand for micro batteries was segmented as primary batteries and secondary batteries depending on the product. The global market is composed of electrodes, electrolytes, substrates, current collectors, and others, depending on the part. The electrolyte portion is forecast to hold the largest micro battery market share over the forecast period.
The type-based segment of the micro battery market comprises printed batteries, Thin-film batteries, and solid-state chip batteries. The thin-film battery is slated to observe the maximum CAGR over the forecast period as thin-film batteries are rechargeable and demand higher, as many devices and applications need rechargeable batteries with a long service life.
The global market for micro batteries has been segmented according to the product as primary batteries and secondary batteries.
The global market is segmented by application into consumer electronics, smart packaging, medical devices, smart cards, wearable devices and others. Due to the deployment of one-time batteries in smart cards, the smart cards segment is expected to develop at the maximum pace during the prognosis period and will drive the demand for thin-film and solid-state chip batteries through the assessment period.
On the basis of region, the global micro battery market trends is segmented into Latin America, Europe, Asia-Pacific (APAC), North America, and the Middle East & Africa (MEA).
Asia-Pacific holds the largest market share of micro batteries due to advancements in technology in smart packaging and healthcare, increasing demand for medical devices, primarily pacemakers, drug delivery systems and medical patches increases demand for micro batteries in the Asia-Pacific region.
Europe is also one of the ley regions in the micro battery market forecast. Germany is expected to dominate the micro battery market in Europe, due to increased demand for electrical equipment in the country's industrial sector. In addition, smart packaging technologies are being introduced in the country at a steady pace, further driving the German micro-battery market. It is also predicted that Germany will rise at the fastest pace during the forecast period.
The emminent Players operating in the Global Micro Battery Market are Samsung SDI Co., Ltd. (South Korea), Enfucell Oy Ltd. (Finland), Front Edge Technology, Inc. (US), BrightVolt Inc. (US), ProLogium Technology Co., Ltd. (Taiwan), Panasonic Corporation (Japan), Cymbet Corporation (US), Ultralife Corporation (US), Imprint Energy (California), STMicroelectronics N.V. (Switzerland), Blue Spark Technologies (US), and Jenax (South Korea).
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