The Micro Battery Market is anticipated to grow at a CAGR of 20.9% from USD 326 million in 2021 to USD 842 million in 2026. The use of printed flexible batteries in medical devices to treat COVID-19 patients, several advantages micro batteries offer over traditional batteries, rising wearable device adoption, expanding use of micro batteries in medical and electronic devices, and demand for thin and flexible batteries in IoT applications are some of the factors driving the growth of the micro battery market. Additionally, during the forecast period, the Tiny Battery Market is anticipated to benefit from the incorporation of micro batteries into smart textiles and the rising popularity of wireless sensors with embedded microbatteries.
Key Players
The Key Players operating in the Micro Battery Market include Blue Spark Technologies (US); Cymbet Corporation (US); Enfucell Oy (Finland); Front Edge Technology, Inc. (US); Molex (US); Panasonic Corporation (Japan); 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).
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Between 2021 and 2026, the Micro Battery Market's Button Battery segment will account for the majority of sales.
The market for micro batteries as a whole was dominated by button batteries in 2020, and this trend is expected to continue from 2021 to 2026. Due to their many applications, lithium button batteries are in high demand. These batteries, for instance, are utilised in motherboards that power computing devices like computers and cellphones. Additionally, lithium button cells are used in toys, wrist watches, calculators, memory backups, laser pens, fitness equipment and wearables, clinical thermometers, blood glucose metres, blood pressure metres, tensiometers, and other portable medical devices. Therefore, it is anticipated that these batteries' market will be driven by their versatility in the near future.
The consumer electronics application of the Micro Battery Market is anticipated to expand at the greatest CAGR during the forecast period.
From 2021 to 2026, the Micro Battery Market for Consumer Electronics Applications is anticipated to develop at the fastest CAGR. The demand for smartwatches and fitness bands has increased, leading to the creation of novel product designs and the use of flexible and compact related components. The majority of wearable technology demands batteries with large capacity, quick recharge rates, and long life. These specifications are paving the way for the use of microbatteries in consumer electronics. Additionally, as end consumers' interest in consumer electronic gadgets like smartwatches, fitness bands, and smart glasses increases, it is projected that demand for micro batteries in this application would rise.
During the projected period, APAC will have Micro Batteries' fastest-growing market.
From 2021 to 2026, the market in APAC is anticipated to see the greatest CAGR. Major manufacturers of wearable devices and consumer electronics in this region are miniaturizing their product designs, which require micro power sources for compatibility with the miniaturized designs. Also, technology advancements in smart packaging (such as the 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 fuelling the growth of micro batteries in the APAC region.
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