Micro Battery Market

[220 Pages Report] The global Micro Battery Market Size is expected to grow from USD 0.5 Billion in 2023 to USD 1.3 Billion by 2028, at a CAGR of 22.4% from 2023 to 2028.

Micro batteries, such as thin film and printed batteries, are designed to complement products requiring an onboard ultra-thin power supply. Printed batteries offer flexibility and are available in thin and ultra-thin sizes, allowing them to be integrated as a power source in various applications, such as smart packaging, smart cards, wearable devices, consumer electronics, and medical devices. Moreover, advancements in thin film and printed batteries have resulted in new emerging application areas, such as smart textiles, wireless sensors, and energy-harvesting devices.

Micro Battery Market Forecast to 2028

To know about the assumptions considered for the study, Request for Free Sample Report

Market Dynamics

DRIVERS: Rising demand for wearable devices

Wearable devices include eyewear, such as smart glasses and virtual reality wearable headsets; and wristwear, such as smartwatches and fitness wristbands. People wear wearable devices to compute their daily activities or track body movement and heart rate information. Wearable devices come in many shapes and forms, and most wearable applications require ultra-thin durable batteries, creating a vast market potential for micro batteries. The application areas of wearable devices are growing from consumer electronics and medical devices to wireless communication devices. There are growth opportunities for wearable medical devices and wireless healthcare monitoring systems, as the medical sector will likely witness a significant technological shift. The market for wearable technology is witnessing increasing product innovation with new product launches and developments. Hence, wearable devices require high flexibility and ultra-thin design, which can be achieved through the integration of thin film and printed batteries.

RESTRAINTS: Lack of standards in micro battery designs

The proprietary technology used to manufacture micro batteries differs from manufacturer to manufacturer and is based on the manufacturer’s specifications. These micro batteries are manufactured specifically for specific electronic devices, due to which compatibility issues may arise if used in other devices. Moreover, no substantial regulatory standards exist in printed battery manufacturing regarding the various types of printed technologies and materials used. These factors, therefore, create the requirement for measures and standards to develop these batteries. Thus, due to the lack of standards for the design of micro batteries, it is challenging for product manufacturers to choose the appropriate micro battery for their products.

OPPORTUNITIES: Growing use of wireless sensors equipped with micro batteries

Wireless sensors are being adopted rapidly due to the advancements in IoT and wireless sensor technologies. Micro batteries are quickly emerging as a viable power supply option for embedded system designers, enabling wireless sensors to be used in applications that were previously not feasible. Micro batteries allow combining energy harvesting through a thin battery with flexible form factors. These batteries are ideal for energy harvesting systems owing to their ultra-thin profile and low leakage characteristics. The increasing adoption of energy harvesting-based autonomous wireless sensors is expected to act as a growth opportunity for the micro battery industry.

CHALLENGES: Complexities in battery fabrication

Thin film batteries have a number of distinctive features, such as high flexibility, easy portability, lightweight, higher power-holding capacity, and excellent energy density. During the fabrication of thin film lithium-ion batteries, achieving an optimal match between core components such as nanostructured electrode materials, shape-conformable solid electrolytes, and soft current collectors is essential. This enables batteries to maintain stable electrochemical performance even if they are deformed to fit powered devices. However, the fabrication process of such batteries is costly. It also requires a complex screening of solid-state electrolytes, soft current collectors, electrode materials, and whole lithium-ion battery cell assemblies. However, the fabrication of such batteries is more challenging than conventional rechargeable lithium-ion batteries. Studies are being undertaken to focus on the fundamental understanding and simulation of fully thin film and printed flexible lithium-ion batteries. Research is also being carried out to test the reliability and performance of these batteries, which are not easily explored using the present state-of-the-art technologies. Thus, the complexity of fabricating thin film lithium-ion batteries is a key challenge for the market's growth.

Micro Battery Market Ecosystem

Prominent companies in this market include well-established, financially stable manufacturers such as Panasonic Holdings Corporation (Japan), Murata Manufacturing Co., Ltd. (Japan), TDK Corporation (Japan), Maxell, Ltd. (Japan), VARTA AG (Germany), and Duracell Inc. (US). These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Along with the well-establiished companies, there are a large number of startups and small companies operating in this market such as Cymbet Corporation (US), Enfucell (Finland), and Ultralife Corporation (US), especially for products such as thin film and printed batteries.

Primary battery segment is expected to hold a substantial market share during the forecast period.

Primary or single-use batteries are non-rechargeable batteries that are discarded once used. These batteries are supplied fully charged and discarded after use. Most printed batteries built on zinc-based materials, in particular, are typically primary batteries. Primary batteries are prominently used in applications wherein the recharging of the battery is impossible. These batteries are integrated into the products and do not require recharging. They play an essential role, especially when charging is impractical or impossible, for instance, in pacemakers of heart patients and smart meters. Also, these batteries are disposable and less hazardous as they do not contain cadmium, lead, and mercury, which are hazardous to the environment and human health.

The market for consumer electronics is projected to grow at an impressive CAGR during the forecast period

Micro batteries are increasingly used in consumer electronics applications such as low-drain devices, wearables, calculators, and remote controls. The application of thin film, printed, coin/button, and solid-state chip batteries in consumer electronic devices are driven by the miniaturization of electronic products and rising demand for flexible electronic devices. Thin film batteries can power portable consumer electronic products. They can also conform to the flexible design of portable electronic devices. Micro batteries are being used in low-power consumer electronic devices, which require a flexible, ultra-thin power source. Integrating printed batteries in the place of conventional batteries could make the product flexible, eventually leading to the use of printed batteries in portable consumer electronic products. Button/coin batteries are used in various consumer electronics such as watches, wearables, remote controls, and more.

Micro Battery Market Statistics by Region

To know about the assumptions considered for the study, download the pdf brochure

The market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2028.

The market in Asia Pacific mainly comprises developing economies, such as China and India, which have a huge potential for the micro battery market growth. Increasing demand for IoT devices and portable consumer electronic devices in countries such as China, India, Japan, and South Korea drives the market for micro batteries in the region. The popularity of next-generation smart cards is also rapidly increasing in this region. All these developments have, in turn, led to the increased demand for flexible batteries in smart cards. The market for micro batteries in Asia Pacific is expected to grow due to the need for smart packaging, wearable devices, and consumer electronics from the major countries in this region.

Key Market Players

Cymbet Corporation (US), Enfucell (Finland), Ultralife Corporation (US), Molex, LLC (US), Panasonic Holdings Corporation (Japan), Murata Manufacturing Co., Ltd. (Japan), TDK Corporation (Japan), Maxell, Ltd. (Japan), VARTA AG (Germany), Renata SA (Switzerland), and Duracell Inc. (US) among others are among a few key players in the micro battery companies.

Micro Battery Market Report Scope:

Micro Battery Market Highlights

This research report categorizes the micro battery market by material, type, capacity, battery type, application, and region.

Recent Developments

• In November 2022, VARTA AG launched its latest version of CoinPower series at Electronica, the world's leading trade fair and conference for electronics. The cells of the A5 generation are suitable for TWS headphones and gaming TWS Earbuds, wearables, and IoT devices.
• In September 2022, Maxell, Ltd. developed the PSB401515H. This high-capacity ceramic packaged solid-state battery uses a solid sulfide electrolyte that helps to increase the side length.
• In October 2020, Murata Manufacturing Co., Ltd. introduced High Drain silver oxide batteries (SR) and alkaline manganese batteries (LR) to its product portfolio for medical devices.

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst