Micro Battery Market projected to reach USD 1,692.4 Million by 2030, growing at a CAGR of 20.1% during the forecast period of 2023-2030 – claims by MarketDigits in its recent study

The Global Micro Battery Market was valued USD 391.5 Million in 2023 and projected to reach USD 1,692.4 Million by 2030, growing at a CAGR of 20.1% during the forecast period of 2023-2030

Richmond, Dec. 14, 2023 (GLOBE NEWSWIRE) — According to a research report Micro Battery Market, by Type (Thin Film Batteries, Printed Batteries, Solid-state Chip Batteries and Button Batteries), Material (Alkaline, Silver Oxide, Lithium and Others), Capacity (Below 10 mAh, 10 to 100 mAh and Above 100 mAh), Application (Consumer Electronics, Medical Devices, Smart Packaging, Smart Cards, Wireless Sensors and Others), End-user (Commercial, Industrial, Residential and Others) and Region – Global Forecast to 2030.

Global Micro Battery Market Report Scope:

Report Details
Market size value in 2023 USD 391.5 Million
Market size value in 2030 USD 1,692.4 Million
CAGR (2023-2030) 20.1%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Type, Material, Capacity, Application, End User and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW
 
  • Duracell Inc.
 
  • Enfucell
Sample of Companies Covered
  • Maxell, Ltd.
 
  • Molex, LLC
 
  • Murata Manufacturing Co., Ltd.

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TOC Covers in Depth & Breath on Micro Battery Market
170 – Market Data Tables
65 – List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

Market Overview

A micro battery functions as a compact energy storage device that provides power to small-scale electronic components and systems. While operating on the fundamental principles of traditional batteries, it distinguishes itself by its significantly reduced size. Various types, such as lithium-ion, zinc-air, and solid-state micro batteries, exist, each characterized by unique chemical compositions and mechanisms. The market for micro batteries is experiencing growth due to a sudden shift towards smaller, more efficient electronic devices like wearables and IoT gadgets, which demand compact energy solutions. Additionally, there is an increasing demand for micro batteries in medical implants and devices like hearing aids or pacemakers that require reliable, small-scale power sources, contributing to a positive market outlook. Technological innovations and advancements in materials science and battery technology are further enhancing market growth by producing micro batteries that are more efficient, longer-lasting, and quicker to recharge. Environmental concerns are driving the adoption of micro batteries with a smaller ecological footprint compared to larger counterparts, fostering market growth. The rising use of micro batteries in applications requiring high performance within limited space, thanks to improved energy density ratios, is also propelling market expansion. Furthermore, consumer demand for portable and convenient electronic devices is a key factor supporting market growth. Government support for advanced battery technologies, recognizing their potential applications in healthcare, defense, and renewable energy, is an additional driver of market growth.

Major Vendors in the Global Micro Battery Market:

  • Duracell Inc.
  • Enfucell
  • Maxell, Ltd.
  • Molex, LLC
  • Murata Manufacturing Co., Ltd.
  • Panasonic Holdings Corporation
  • Renata SA
  • Seiko Instruments Inc.
  • Shenzhen Grepow Battery Co., Ltd.
  • TDK Corporation
  • Ultralife Corporation
  • Varta AG

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Growing demand for smart meters

The micro battery market is witnessing a growing demand, fueled in part by the increasing adoption of smart meters. Smart meters, integral components of modern energy management systems, require reliable and compact power sources to function efficiently. Micro batteries, with their reduced size and enhanced energy density, are proving to be a crucial solution to power these intelligent metering devices. As the global emphasis on energy efficiency and smart grid technologies intensifies, the demand for smart meters continues to rise, subsequently driving the need for advanced micro batteries. The ability of micro batteries to provide a sustainable and dependable power supply aligns perfectly with the evolving landscape of smart infrastructure, making them a pivotal player in meeting the energy demands of the expanding smart meter market.

Market Dynamics

Drivers:

  • Development of new technologies
  • Increasing demand for miniaturization
  • Increasing demand for high energy density

Opportunities:

  • Rising demand for flexible batteries in smart textiles
  • Increasing adoption of wireless sensors

Governmental regulations for installing smart meters

Governmental regulations play a significant role in shaping the landscape of the micro battery market, particularly in the context of installing smart meters. As the adoption of smart meters becomes more widespread to enhance energy efficiency and grid management, governments worldwide are implementing regulations to standardize and ensure the seamless integration of these devices. These regulations often mandate specific requirements for the micro batteries powering smart meters, emphasizing factors such as reliability, longevity, and environmental sustainability. Compliance with these regulations is crucial for manufacturers in the micro battery market, driving innovation and advancements in battery technology to meet the stringent criteria set by governing bodies. The regulatory framework not only ensures the optimal performance of smart meters but also fosters a competitive environment within the micro battery market, encouraging the development of solutions that align with both technological advancements and environmental sustainability goals.

The market for Micro Battery is led by Asia Pacific.

In 2022, the global micro battery market was predominantly led by the Asia Pacific region. This dominance can be attributed to the region’s status as a major manufacturing hub for electronic devices, wearables, and IoT products, all of which exhibit a growing preference for compact and durable power sources. The surge in the adoption of electric vehicles and renewable energy technologies in the region contributes to an increased demand for advanced energy storage solutions, including micro batteries. Governmental initiatives and investments in green technologies further bolster this growth trajectory. Additionally, the Asia Pacific’s substantial and technologically inclined population forms a significant consumer base for portable electronics, intensifying the demand for micro batteries that are both compact and efficient.

The 10–100 mAh Segment is Anticipated to Hold the Largest Market Share During the Forecast Period

The global micro battery market is categorized based on capacity into segments of below 10 mAh, 10 to 100 mAh and above 100 mAh. Among these, the 10–100 mAh segment emerges as the largest. This category encompasses micro batteries with capacities ranging from 10 to 100 milliampere-hours (mAh), establishing itself as a pivotal player in the micro battery market. Recognized for their moderate capacity, batteries within this segment find versatile applications, extending from small electronic devices to IoT devices. Their adaptability makes them suitable for a diverse range of consumer and industrial uses, contributing to the prominence of the 10–100 mAh segment in the global micro battery market.

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