Global Micro Battery Market is valued at USD 325.4 Million in 2021 and is expected to reach USD 1214.3 Million by 2028 with a CAGR of 20.7% over the forecast period.
Global Micro Battery Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2028: The growing demand for thin and flexible batteries in IoT applications and the increasing adoption of wearable smart devices are the major factors driving the growth of the Global Micro Battery Market.
Micro batteries are the tiny devices that are used in to power our mobile life and other mobile gadgets without which it is impossible to sustain today’s day-to-day life. Commercialization of battery innovations is done to make the portable devices even better each day. The most common rechargeable micro-batteries are coin-shaped and button cells (thick metallic discs) and pouch cells (core battery material encased by a metallic film). Pouch cells can even take several forms as per the requirements. These batteries are high voltage, high energy density batteries. They have a wide working temperature range, making them suitable for a wide range of general applications. Micro batteries are also used in automotive, IoT, medical and other battery-oriented industries.
Covid-19 has made a strong impact on global micro battery market. Due to lockdowns, some of its end-users like consumer-driven electronics, printed electronics, smart cards and smart textile manufacturers were terribly affected by the pandemic. They had to slow down the production due to shortage of manpower and disruption in the transportation of goods and raw materials. On the other hand, end-users like electronic medical device and IoT based manufacturers had to speed up their production capacity in response to the growth in demand and increased consumption. However, the overall impact on micro battery market due to the pandemic depends on various other factors such as the duration and spread of the disease worldwide, regulations imposed by various governments in the view of it, pace of the research work with respect to Covid-19,and others.
|2018 - 2021
|2021 - 2028
|Market Size in 2021:
|USD 325.4 Million
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 1214.3 Million
|Tables, Charts & Figures:
|Micro Battery Companies
|Blue Spark Technologies, Cymbet Corporation, Enfucell Oy, Front Edge Technology Inc., Molex, Panasonic Corporation, Shenzhen Grepow Battery Co. Ltd., TDK Corporation, Ultralife Corporation, VARTA AG, Murata Manufacturing Co. Ltd., Seiko Instruments, Maxell Holdings Ltd., Renata SA, Duracell Inc., and others.
|By Type, By Rechargeability, By Capacity, By Application
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
Global micro battery market is segmented on the basis of type, rechargeability, capacity, application and geography. On the basis of type, the global micro battery market is classified into button battery, thin-film battery, printed battery, and solid-state chip battery. On the basis of rechargeability, the market is classified into primary and secondary batteries. On the basis of capacity, the global micro battery market is classified into below 10 mAh, between 10 mAh and 100 mAh, above 100 mAh. On the basis of application, the market is classified into consumer electronics, medical devices, smart packaging, smart cards, wireless sensor nodes, and other applications.
Some of the key players for the global micro battery market are
On February 28th, 2022; Panasonic Corporation announced that its Energy Company will establish a production facility at its Wakayama Factory in western Japan to manufacture new, ""4680"" lithium-ion batteries for electric vehicles (EVs) in order to expand its business globally. To contribute to the rapid adoption of EVs, Panasonic has been working to enhance its line-up of automotive lithium-ion batteries. Panasonic is developing a new high-capacity lithium-ion battery, the ""4680"", in multiple locations within Japan. The company will progressively develop production capabilities in preparation for the full rollout. Along with structural improvements, two additional production lines as well as utility facilities will be established at the Wakayama Factory, and product verification and mass production are set to begin in the fiscal year ending in March 2024.
On January 7th, 2020; The Japanese electronics giant was offering a new cell architecture developed by battery start-up 24M, in the U.S., which significantly improves battery economics. Kyocera will be the first company to bring the technology to market. With an higher energy density, lower manufacturing costs and improved safety, the companies involved claim SemiSolid will become the new standard for lithium-ion cells.
The growing demand for thin and flexible batteries in IoT applications is one of the major factors driving the growth of the global micro battery market. The development of chip batteries for the replacement of standard lithium-ion batteries is in the process in various manufacturing companies. The chip batteries consist of greater safety, longer lifespan, and high resistance with more stability. With the growing rise in IoT, almost every work requires the internet. The performance of batteries used in IoT devices has become one of the essential factors to consider while designing electronic devices. Lithium-ion batteries that have higher energy density are used in electric vehicles and communication devices. However, these batteries are highly flammable and are prone to leakage. Due to this, chip batteries that are thin and flexible consisting of non-flammable and safe electrolyte materials are on the rise.
In addition, increasing adoption of wearable smart devices is also supplementing the growth of the global micro battery market. With the increase in technological advancements used in wearable and medical devices, manufacturing companies are coming up with new and advanced innovations every now and then. This, in turn, is growing the demand for lightweight, flexible, waterproof, high-capacity batteries.
However, the most common restraint limiting the use of micro-batteries is its ability to outrun standard batteries in several areas. Due to its small size, the consumption of power is faster and it also has lower energy density. This may limit micro battery usage in specific areas. But, further developments are being carried on to overcome these difficulties. At the same time, the rapid adoption of such products will create new opportunities for the further growth of the global micro battery market.
The global micro battery market in APAC region is expected to be the largest market for micro-batteries during the forecast period. The demand in APAC is driven by the growing industrialism, rise in consumer and infrastructural expenditure, and sturdy economic growth in this region. China is the largest market for micro batteries in the APAC region. As per a report published in 2016 states how China’s progress in industrialization could boost its economy in the coming years. It has also stated the two major factors that are driving the Chinese industrial rise- openness to the international economy and domestic market liberalization. These factors provide favorable conditions for construction, automotive, and other industries to boom in the country.
The global micro battery market in European region is also prospering for micro batteries during the forecast period. New European regulatory framework for batteries is laid and the proposal presented by the European Commission is designed to modernize the EU's regulatory framework for batteries in order to secure the sustainability and competitiveness of battery value chains. It would introduce mandatory requirements on sustainability (such as carbon footprint rules, minimum recycled content, performance and durability criteria), safety and labelling for the marketing and putting into service of batteries, and requirements for end-of-life management.
Middle East and Africa
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