Global Micro Battery Market
Global Micro Battery Market Size Zooming 3.6X at Robust CAGR of 23.57% to Cross USD 2 Billion by 2029
Published | 21 November 2023
Global micro battery market is flourishing due to growing demand for small, long-lasting power sources in portable electronics, medical devices, and IoT applications; advancements in miniaturization, energy density, and sustainability; and the increasing adoption of wearables and wireless sensor technologies.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global micro battery market size at USD 569.35 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global micro battery market size to grow at a robust CAGR of 23.57% reaching a value of USD 2026.56 million by 2029. The global micro battery market is driven by the increasing demand for compact power sources in miniaturized electronic devices, such as IoT sensors, medical implants, and wearables. Advancements in micro battery technology, including improved energy density and longer lifespans, are fueling growth. Also, the rising adoption of wireless and portable devices in various industries, coupled with the need for sustainable and eco-friendly power solutions, contributes to market expansion. The proliferation of electric vehicles and smart gadgets further boosts the demand for micro batteries, as they play a crucial role in these applications. These factors collectively propel the growth of the global micro battery market.
Micro Battery – Overview
A micro battery is a compact and lightweight power source designed for small electronic devices and applications where traditional batteries are too large or heavy. These miniature energy storage units deliver modest power output but are essential for various purposes, such as powering medical implants, wearables, IoT devices, and miniature sensors. They typically utilize lithium-ion or lithium-polymer technology, offering a balance between energy density and size. Micro batteries are known for their long cycle life, low self-discharge rates, and efficient energy delivery, making them indispensable in modern portable electronics and emerging technologies requiring a reliable and space-efficient energy source.
Impact of COVID-19 on Global Micro Battery Market
Global micro battery market felt the impact of COVID-19 as supply chain disruptions and reduced consumer spending slowed growth. Production delays and transportation restrictions hindered the industry, leading to temporary setbacks. However, the pandemic also accelerated the adoption of remote technologies and wearables, creating new opportunities for micro batteries to power these devices. As businesses and individuals adapted to the "new normal," the market began to recover, with a renewed focus on smaller, longer lasting, and eco-friendly micro batteries to meet the evolving demands of a post-pandemic world.
Global Micro Battery Market – By Capacity
Based on capacity, global micro battery market is divided into 10–100 mAh, Below 10 mAh, and More than 100 mAh segments. The 10–100 mAh segment is the largest in the global micro battery market. This segment includes micro batteries with capacities ranging from 10 to 100 milliampere-hours (mAh), making it a significant player in the micro battery market. These batteries are typically used in a wide range of applications, from small electronic devices to IoT devices, due to their moderate capacity, making them versatile and adaptable for various consumer and industrial uses.
Global micro battery market is fiercely competitive. Major companies in the market include Panasonic Holdings Corporation, VARTA AG, Murata Manufacturing Co., Ltd., TDK Corporation, Berkshire Hathaway, Inc. (Duracell, Inc.), Ultralife Corporation, Maxwell Technologies (UCAP Power, Inc.), Cymbet Corporation, Enfucell Oy, and Koch Industries, Inc. (Molex LLC). These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the global micro battery market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Micro Battery Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in Global Micro Battery Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Micro Battery Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Battery Type (Primary, Secondary); By Type (Printed Batteries, Thin Film Batteries, Button Batteries, Solid-state Chip Batteries); By Material (Lithium, Alkaline, Silver Oxide); By Capacity (10–100 mAh, Below 10 mAh, More than 100 mAh); By Application (Medical Devices, Smart Packaging, Consumer Electronics, Smart Cards, Wireless Sensors); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: November 2023
An increasing demand for compact power sources in portable electronics and medical devices, growth in IoT applications, the need for long-lasting, miniature energy solutions, advancements in battery technology, and rising consumer adoption of wearables and small-scale electronics are expected to contribute to the expansion of Global Micro Battery Market during the forecast period between 2023 and 2029.
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