Micro Battery Market with COVID-19 Impact Analysis - Global Forecast to 2026

PublishTime： 2022-07-06 Article Source：格瑞普

The global micro battery market size is expected to grow from USD 326 million in 2021 to USD 842 million by 2026 at a CAGR of 20.9%.

The growth of the micro-market is driven by factors such as the use of printed flexible batteries in medical devices to treat COVID-19 patients, several advantages offered by micro batteries over traditional batteries, increasing adoption of wearable devices, growing use of micro-batteries in medical and electronic devices, and demand for thin and flexible batteries in IoT applications.

The market for solid-state chip batteries to grow at the highest CAGR from 2021 to 2026

The development of solid-state chip batteries as a replacement for conventional lithium-ion batteries is currently underway in the global micro battery industry. These batteries possess superior safety, longer lifespan, and high reliability as it uses non-flammable, stable, and solid electrolyte materials instead of a liquid. This eliminates the risk of fire and leakage. With the advent of IoT, almost everything is connected to the internet. Battery performance has become one of the essential factors to consider while designing electronic devices in addition to compactness and communication capabilities. Lithium-ion batteries that have high energy density are commonly used today in electronic devices such as electric bikes, drones, and communication devices. However, as these batteries are made up of a flammable, organic solvent electrolyte, they carry a risk of leakage and fire. This has created a need for safer power and more reliable solid-state batteries containing non-flammable and safe electrolyte materials among IoT device makers. This is expected to drive the demand for solid-state chip batteries over the forecast period.

System integration market for industrial automation in the energy & power industry to exhibit high growth during the forecast period

The micro battery market for the secondary battery segment is projected to grow at a higher CAGR from 2021 to 2026. Applications such as consumer electronics, wearable devices, medical devices, and wireless sensor systems require secondary batteries with a long lifespan. With the advancements in technologies used in wearable devices and medical devices, manufacturers are continuously making efforts to come up with innovative designs suitable for their devices. This, in turn, is increasing the requirement for thin, lightweight, bendable, flexible, and high-capacity rechargeable batteries that can last long. Therefore, the demand for secondary micro batteries in the aforementioned applications is high and is expected to increase rapidly during the forecast period.

The micro battery market in APAC to grow at the highest CAGR during the forecast period

The micro battery market in APAC is expected to grow at the highest CAGR during the forecast period. The major manufacturers of wearable devices and consumer electronics in this region are miniaturizing their product designs and require micropower sources for compatibility with the miniaturized designs. Technology advancements in smart packaging (e.g., use of printed RFID tags and smart labels in packages), as well as the adoption of medical devices, mainly pacemakers, drug delivery systems, and medical patches, which require lightweight, flexible, and safe power sources, are fueling the market growth in APAC.

Key Market Players

As of 2020, Blue Spark Technologies (US); Cymbet Corporation (US); Enfucell Oy (Finland); Front Edge Technology, Inc. (the US); Molex (US); Panasonic Corporation (Japan); 格瑞普Shenzhen Grepow Battery Co., Ltd. (China); TDK Corporation (Japan); Ultralife Corporation (US); VARTA AG (Germany); Murata Manufacturing Co., Ltd. (Japan); Seiko Instruments (Japan); Maxell Holdings, Ltd. (Japan); Renata SA (Switzerland); and Duracell Inc. (US) were the major players in the micro battery market. The study includes an in-depth competitive analysis of these key players in the micro battery market with their company profiles, recent developments, and key market strategies.

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