Expert Market Research’s new report titled, ‘Global Micro-batteries Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global micro-batteries market, assessing the market based on its segments such as type, refill, capacity, application, components and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 37%
- Forecasted Market Size (2026): USD 1191.7 Million
The micro battery industry is growing for reasons such as the intrinsic advantages of micro batteries, the increased adoption of portable devices, the requirement for compact batteries in medical equipment, and the demand for thin and flexible batteries in IoT devices. Micro-batteries have drawbacks, such as reduced resource consumption and a lack of uniformity in the industry. These batteries are small, light and versatile. They have a diameter of 5 to 25 mm and a height of 1 to 6 mm. The increasing deployment of IoT technology in medical devices is also a major growth driver of the market. The increasing prevalence of chronic diseases and the growth of the elderly population are driving the adoption of these high-tech solutions in the healthcare sector. Additionally, the increasing use of advanced medical equipment, such as wearable electronics, is improving patient outcomes and reducing healthcare costs. The growing demand for small, versatile batteries in IoT systems and the increasing use of portable instruments will fuel the growth of this market.
Industry definition and major segments
Micro-batteries are batteries with a footprint of a few square millimeters or less. A battery is a device that converts chemical energy into electricity using specific chemicals in a predetermined way. Batteries are found in a wide range of electrical devices, including flashlights, cell phones, and electric vehicles. When the anode and cathode of a battery are connected in a circuit, a chemical reaction takes place between the anode and the electrolyte. Battery technologies include lithium-ion batteries, lead-acid batteries, nickel-metal hydride batteries and other battery types.
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By Application, the market is split into:
- Consumer electronics
- Medical equipement
- Smart packaging
- Portable devices
- Wireless sensor nodes
By Type, the market is split into:
- thin film battery
- Printed battery
- Solid state chip battery
By rechargeability, the market is divided into:
- Primary battery
- Secondary battery
By Capacity, the market is split into:
- Below 10mAh
- Between 10mAh and 100mAh
- Above 100mAh
By Components, the market is split into:
- Current collectors
By region, the industry is classified into:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The growing integration of smart textiles into wearable devices and the emerging trend of miniaturization of electronics are some of the factors that are expected to continue to generate significant market growth for established companies and new entrants in the industry. Smart fabrics are quickly becoming popular in the health and sports industries to detect muscle vibrations, regulate body temperature, and provide protection against a variety of hazards. Additionally, improvements in the electronics sector have facilitated the integration of smart textiles with small electrical components such as micro-batteries, sensors, and control consoles in wearable and electronic devices. The growing adoption of smart meters is creating a huge market opportunity for micro batteries. A smart meter is an electronic gadget that keeps track of the amount of energy used and sends this information to the utility company for billing and monitoring. Due to increased government investment in countries like India, UK and USA to expand the use of smart meters, the industry is growing rapidly.
North America is expected to continue dominating the global micro battery market over the next few years, owing to increasing government spending and rise in IoT technologies. Due to the increasing adoption of wearable tech gadgets and Internet of Things technology, Asia-Pacific is now dominating the micro battery market and will continue to do so during the projection period. Availability of raw materials, low production and installation costs, and skilled labor will all contribute to the profitable expansion of the micro battery market. The Asia-Pacific region includes a wide range of growing economies endowed with significant natural and human resources, with China and India likely to be major investment hotspots for battery companies in the coming years. years due to government policy support for the manufacturing industry. The rapid adoption of electric vehicles and the construction of renewable energy power plants in China and India are expected to fuel huge demand for batteries.
Main market players
The major market players are Cymbet Corporation, STMicroelectronics, Enfucell Oy, SAMSUNG SDI CO., LTD., BrightVolt., Front Edge Technology, Inc., IMPRINT ENERGY, Ultralife Corporation, and Blue Spark Technologies. The report covers market shares, capacities, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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