Global Micro Battery Market

Global Micro Battery Market, By Type (Thin-Film Battery, Printed Battery, Solid-State Chip Battery, Button Battery), By Rechargeability (Primary Battery, Secondary Battery), By Capacity (Below 10 mAh, Between 10 mAh and 100 mAh, Above 100 mAh), By Application (Consumer Electronics, Medical Devices, Smart Packaging, Smart Cards, Wireless Sensor Nodes, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: September 2021
  • Report ID: BWC21112
  • Available Format: PDF
  • Page: 189

Report Overview

The growing demand for electronic items in consumer goods such as wearable gadgets and medical technology is propelling the global micro battery market. Furthermore, the high capacity and energy density of micro-batteries compared to other traditional batteries is another influencing element for the market’s growth.

Global Micro Battery Market- Industry Trends & Forecast Report 2027

Global micro battery market was worth USD 296.5 million in 2020 and is projected to reach USD 1,080.5 million by the year 2027, growing at a CAGR of 20.4% in the forecast period. The rising demand for electronic items in consumer goods such as wearable gadgets and medical technology is propelling the global micro battery market. Furthermore, the high capacity and energy density of micro-batteries compared to other traditional batteries is another influencing element for the market’s growth.

Global Micro Battery Market

Source: BlueWeave Consulting

Global Micro Battery Market- Overview

Micro batteries are high voltage and high energy density compact batteries. These batteries are lightweight and known for their flexibility. They range from 5 to 25 mm in diameter, and their height is 1 to 6 mm. Their versatile nature allows them to be used in a wide range of applications, from small systems to simple sensors and systems requiring a lot of power. Because of shrinking electronic circuits and compact electrical goods, micro batteries are gaining enormous popularity in the electronic market because of their small size.

Global Micro Battery Market Forecast and Trends

Growth Drivers

Increasing Production and Penetration of Consumer Electronic Goods

One of the major factors driving the global micro battery market is the boom in consumer electronics. China, which manufactures low-cost and convenient consumer goods for various purposes, is primarily responsible for this boom. The demand for certain electronic products, such as mobile phones, trimmers, wearables, remote controllers of various appliances, etc., has witnessed a tremendous surge in its market. This surge is estimated to influence the growth of the global micro battery market positively.

Growing Demand for Micro Batteries in the IoT Devices

Using the Internet of Things (IoT), data can be delivered and exchanged between devices using software and sensors integrated into objects using the Internet of Things (IoT). Due to the decreasing power requirements for semiconductors and IoT applications reporting exponential growth. Applications such as sensors, smart cards, RFID tags, wireless sensor nodes, and smart labels must be flexible and thin to exchange data efficiently. IoT relies on traditional batteries for power. However, in many applications, sensor performance is hampered by the size of the embedded battery. Alternatively, thin and flexible batteries harvest energy for a device. Unlike regular batteries, these batteries continue to power sensors, extending their shelf life. Consequently, the global micro battery market is expected to grow due to thin and flexible batteries in IoT.

Restraints

Limited Battery Life and Capacity of Micro Battery

Micro-batteries are renowned for their small size. Unfortunately, the compact size of micro-batteries is also one of their limitations. The small or compact dimensions of these batteries also result in faster power consumption. Because of this, they cannot function for long periods and frequently need to be recharged or replaced. As a result, this could be a major limiting factor for the market’s growth, especially when consumer electronic goods are becoming more popular by the day.

Impact of COVID-19 on Global Micro Battery Market

COVID-19's sudden emergence posed a significant obstacle to the growth of micro batteries worldwide. A few end-users of micro batteries, such as consumer electronics, wearable devices, printed electronics, smart cards, smart packaging, and smart textile manufacturers, were severely affected by this pandemic and had to halt production. Consequently, the demand for micro batteries fell aggressively. Micro battery manufacturers suffered severe losses when production operations as well as distribution channels were shut down. Market recovery from the slump is expected to take place soon as the demand for electronic products increases during the quarantine period.

Global Micro Battery Market - By Type

Based on types, the global micro battery market is segmented into thin-film, printed, solid-state chip, and button. Among these, the thin-film battery segment captures the largest market share. Thin-film batteries are made up of lithium-ion batteries, a very popular material in the battery manufacturing industry. Thin-film batteries are most prominently used in renewable energy storage devices, smart cards, radio-frequency identification tags, portable electronics, defibrillators, etc. That’s why its demand is growing at a high rate in this market.

Global Micro Battery Market - By Capacity

Based on capacities, the global micro battery market is segmented into below 10 mAh, between 10 mAh and 100 mAh, and above 100 mAh. The above 100 mAh capacity segment accounts for the largest market share as this capacity is prominently used in film cameras, medical instruments, etc. Medical instruments, such as pacemakers, need to work continuously without interruption, which requires high-capacity micro-batteries. Additionally, with the growing prevalence of various chronic diseases, micro-batteries are also expected to surge in demand, propelling the market growth.

Global Micro Battery Market - Regional Insights

Geographically, the global micro battery market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region dominates the market and is also projected to witness the highest CAGR during the forecast period. The presence of the world's major manufacturing industries for consumer electronics in countries such as China and India are considerably driving demand for micro batteries in this region. Furthermore, rising demand for various medical equipment such as pacemakers and drug delivery systems drive the market growth.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading players in the global micro battery market are Cymbet, Seiko Instruments Inc., Enfucell Oy, Ultralife Corporation, Blue Spark Technologies, Tdk Corporation, Panasonic Corporation, Murata Manufacturing Co., Ltd., Varta Ag, Molex LLC, Front Edge Technology, Shenzhen Grepow Battery Co., Ltd., Renata SA, Maxell Holdings, Ltd., Duracell Inc., Brightvolt Inc., Power Paper Ltd., Iten SA, Guangzhou Fullriver Battery New Technology Co., Ltd., and other prominent players.

The global micro battery market is fragmented, with numerous micro battery manufacturers, although it is consolidated among a small number of competitors. For innovation and advancement of their products, companies heavily invest in R&D. Also, the market players focus on improving the energy and life of micro-batteries to gain a competitive edge. Furthermore, the adoption of competitive strategies like mergers, acquisitions, partnerships, collaborations, etc., is also very prominent in the market.

Recent Developments

  • In September 2021, Ilika plc., a UK-based solid-state battery technology company, announced to have qualified to trade on the OTCQX. OTC Markets Group Inc. is a leading operator of financial markets for the US and global securities.
  • In January 2021, Thin Film Electronics ASA, a Norwegian micro-battery manufacturing company, announced its new strategies in commercializing the company’s premium micro-battery products based on solid-state lithium battery technology.

 

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product Service/Segmentation

By Type, By Rechargeability, By Capacity, By Application, By Region

Key Players

Cymbet, Seiko Instruments Inc., Enfucell Oy, Ultralife Corporation, Blue Spark Technologies, Tdk Corporation, Panasonic Corporation, Murata Manufacturing Co., Ltd., Varta Ag, Molex LLC, Front Edge Technology, Shenzhen Grepow Battery Co., Ltd., Renata SA, Maxell Holdings, Ltd., Duracell Inc., Brightvolt Inc., Power Paper Ltd., Iten SA, Guangzhou Fullriver Battery New Technology Co., Ltd., and other prominent players.

 

By Type

  • Thin-Film Battery
  • Printed Battery
  • Solid-State Chip Battery
  • Button Battery

By Rechargeability

  • Primary Battery
  • Secondary Battery

By Capacity

  • Below 10 Mah
  • Between 10 Mah and 100 Mah
  • Above 100 Mah

By Application

  • Consumer Electronics
  • Medical Devices
  • Smart Packaging
  • Smart Cards
  • Wireless Sensor Nodes
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

Frequently Asked Questions:

Ans: The global micro battery market reached USD 296.5 million in 2020.
Ans: The major factors driving the growth of the global micro battery market are; increasing production and penetration of consumer electronic goods and technological advancements in micro batteries.
Ans: The key players in the global micro battery market are: Cymbet, Seiko Instruments Inc., Enfucell Oy, Ultralife Corporation, Blue Spark Technologies, Tdk Corporation, Panasonic Corporation, Murata Manufacturing Co., Ltd., Varta Ag, Molex LLC, Front Edge Technology, Shenzhen Grepow Battery Co., Ltd., Renata SA, Maxell Holdings, Ltd., Duracell Inc., Brightvolt Inc., Power Paper Ltd., Iten SA, Guangzhou Fullriver Battery New Technology Co., Ltd., and other prominent players.
Ans: The consumer electronics segment accounted for the largest share in the global micro battery market.
Ans: The Asia-Pacific region has the largest share in the global micro battery market.