The increasing trend of miniaturization in electronic devices is one of the most significant drivers propelling the market growth
NEW YORK, BROOKLYN, UNITED STATE, July 1, 2024 /
EINPresswire.com/ -- The latest report by IMARC Group, titled “
Micro Battery Market Report by Type (Thin Film Battery, Printed Battery, Solid State Chip Battery, Button Batteries), Capacity (Below 10mAh, Between 10 mAh to 100 mAh, Above 100 mAh), Rechargeability (Primary Battery, Secondary Battery), Application (Consumer Electronics, Medical Devices, Smart Packaging, Smart Cards, Wearable Devices, Wireless Sensor Nodes, and Others), and Region 2024-2032“, The global micro battery market size reached US$ 412 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1347 Million by 2032, exhibiting a growth rate (CAGR) of 21.4% during 2024-2032.
Factors Affecting the Growth of the Micro Battery Industry:
Technological Advancements:
The recent innovations in materials science and battery chemistry have significantly enhanced the capabilities of micro batteries, particularly in terms of energy storage, efficiency, and lifespan. Additionally, several developments in lithium-ion technology and the advent of solid-state batteries are pivotal. For instance, solid-state batteries replace the liquid electrolyte with a solid electrolyte, which improves the energy density and enhances safety by reducing the risks of leakage and battery fires. This advancement allows for thinner, lighter batteries with higher charge capacity and longevity, ideal for powering increasingly miniaturized electronic devices. Besides this, the exploration of new materials like graphene and silicon anodes is pushing the boundaries of battery efficiency, charging speeds, and cycle life, thus meeting the modern demands of technology and consumer electronics across the globe.
Rising Demand for Wireless Devices:
The global surge in the use of wireless devices such as Bluetooth headsets, smartwatches, and fitness trackers has created a robust demand for compact, efficient power sources like micro batteries. These small-scale batteries are critical for devices that need to maintain functionality without the bulk of traditional battery systems. Additionally, micro batteries are widely employed due to their ability to provide long-lasting power in a compact form factor enhancing device portability and user convenience, making daily recharge less necessary. As technology progresses, the integration of micro batteries is becoming more sophisticated, enabling a reduction in size and increasing the connectivity and features of portable devices. This trend is expected to continue as new wireless applications emerge and the Internet of Things (IoT) expands.
Increasing Medical and Healthcare Applications:
In the medical and healthcare sectors, micro batteries are increasingly indispensable due to their reliability and longevity. Additionally, several devices such as pacemakers, hearing aids, and insulin pumps rely heavily on micro batteries to operate effectively. Moreover, the precision and durability of these batteries ensure that critical medical devices function continuously without fail, which is essential for patient health and safety. For instance, the advanced battery chemistry allows pacemakers to operate for many years without the need for replacement, thus reducing the frequency of surgical interventions for patients. Similarly, the compact size and enhanced power density of micro batteries enable hearing aids to be more discreet and powerful. As the medical field continues to innovate, the demand for micro batteries that offer longer life and higher reliability is set to increase, supporting several life-saving and enhancing devices across the globe.
Competitive Landscape with Key Player:
Duracell Inc. (Berkshire Hathaway)
ITEN
Maxell Ltd.
Murata Manufacturing Co. Ltd.
Panasonic Corporation
Renata SA (The Swatch Group)
Seiko Instruments Inc. (Seiko Group Corporation)
TDK Corporation
Ultralife Corporation
Varta AG (Montana Tech Components)
For an in-depth analysis, you can refer sample copy of the report:
https://www.imarcgroup.com/micro-battery-market/requestsample
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
Thin Film Battery
Printed Battery
Solid State Chip Battery
Button Batteries
Solid-state chip battery represents the largest segment due to their compact size, improved safety, and suitability for IoT devices.
Breakup by Capacity:
Below 10 mAh
Between 10 mAh to 100 mAh
Above 100 mAh
Between 10 mAh to 100 mAh account for the largest market share due to the rising demand for wearables and small electronic gadgets requiring compact power solutions.
Breakup by Rechargeability:
Primary Battery
Secondary Battery
Secondary battery dominates the market growth, owing to its ability to be recharged multiple times, making it ideal for consumer electronics and electric vehicles.
Breakup by Application:
Consumer Electronics
Medical Devices
Smart Packaging
Smart Cards
Wearable Devices
Wireless Sensor Nodes
Others
Consumer electronics hold the largest market share, reflecting widespread use in smartphones, tablets, and laptops globally.
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Asia Pacific’s dominance in the micro battery market is attributed to extensive manufacturing capabilities and high consumer electronics adoption rates in countries like China, Japan, and South Korea.
Global Micro Battery Market Trends:
At present, as electronic devices become smaller and more compact, there is a growing demand for micro batteries that can provide sufficient power while maintaining a small form factor. Moreover, there is a growing focus on developing environmentally friendly micro batteries that use safer materials and are easier to recycle, aligning with global sustainability goals. Besides this, the expansion of wearable technology, including smartwatches and fitness trackers, is escalating the demand for micro batteries that can power these devices efficiently and reliably. Along with this, with the rise of flexible and bendable electronics, there is a need for micro batteries that can conform to different shapes and sizes without compromising performance across the globe.
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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