Global Micro Battery Market Overview 2023-2028
The global micro battery market size reached US$ 412 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1347 Million by 2028, exhibiting a growth rate (CAGR) of 21.4% during 2023-2028.
A micro battery is a high-energy storage device that is compact and intended for use in confined spaces. It often weighs less, takes up less space, and charges quickly, in contrast to traditional batteries. It offers several features, including fast recharge cycles, long lifespans, and the ability to operate under a wide range of temperatures. It retains its high energy density and integrity by using cutting-edge technologies, such as solid-state electrolytes, lithium polymers, or lithium-ion (Li-ion) batteries. It is utilized in internet of things (IoT) gadgets, wearables, and medical equipment.
Global Micro Battery Market Trends and Drivers:
At present, the increasing employment of smart devices, such as hearing aids and pacemakers, in the healthcare sector that require reliable small-scale power sources represents one of the key factors impelling the market growth. Additionally, the growing advancements in material science, allowing for more energy-dense and efficient batteries, are positively influencing the market. Besides this, the rising implementation of government regulations encouraging energy-efficient solutions and reducing the carbon footprint is driving the adoption of more sustainable technologies, including advanced micro batteries. Moreover, the increasing production of smaller, more efficient components of consumer electronics and automobiles are strengthening the market growth. In addition, the growing shift in preferences toward wireless and cordless devices is driving demand for highly efficient, rechargeable micro batteries. Furthermore, the rising development of smart cities and smart infrastructure, which rely on sensors and small electronic devices for data collection and automation, is catalyzing the demand for micro batteries. Apart from this, the increasing improvements in manufacturing processes and supply chain management to reduce the cost of micro batteries are supporting the market growth. Additionally, the growing need for lightweight, high-energy, and reliable power sources in military technology is offering a favorable market outlook. Moreover, the rising number of e-commerce platforms is making it easier for buyers to access electronic devices that employ micro batteries.
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Global Micro Battery Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
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), etc.
The report segmented the market on the basis of region, type, capacity, rechargeability and application.
Breakup by Type:
- Thin Film Battery
- Printed Battery
- Solid State Chip Battery
- Button Batteries
Breakup by Capacity:
- Below 10 mAh
- Between 10 mAh to 100 mAh
- Above 100 mAh
Breakup by Rechargeability:
- Primary Battery
- Secondary Battery
Breakup by Application:
- Consumer Electronics
- Medical Devices
- Smart Packaging
- Smart Cards
- Wearable Devices
- Wireless Sensor Nodes
- Others
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
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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