Micro Battery Market Expected to Reach $4 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Micro Battery Market, by Type (Button Batteries, Thin Film Batteries, Printed Batteries, and Solid-State Chip Batteries), by Application (Consumer Electronics, Medical Devices, Smart Packaging, Smart Cards, Wireless Sensors, and Others) by Battery Type (Primary and Secondary): Global Opportunity Analysis and Industry Forecast, 2022–2032." The micro battery market size was valued at $0.5 billion in 2022, and is estimated to reach $4 billion by 2032, growing at a CAGR of 21.6% from 2023 to 2032.

Micro batteries have primary features such as greater dependability, increased safety, and longer life, because they employ non-flammable and solid electrolyte materials rather than liquid electrolytes. Due to this, producers have started integrating these batteries into several technological innovations. The likelihood of leaks and fires is reduced when solid electrolytes are used. These factors have all played a vital role in the recent growth of the global micro battery industry. The utilization of renewable energy sources for power production and other commercial and industrial applications is being actively pursued by a several affluent nation.

Electricity is being produced on a greater scale in North America, Europe, and Asia using solar energy. These nation are using them more frequently to keep a check on how much electricity they use. For billing purposes, smart meters can track how much power is used by a home or a firm and transmit that data to the electrical supplier. Considering that smart meters are often powered by batteries, the growing demand for smart meters is expected to propel the micro battery market growth.

Increased use of micro lipo battery and wireless sensors can be attributed to the progress made in both IoT and wireless sensor technology. Microbatteries are rapidly becoming a competitive alternative for power supplies. For designers of embedded systems, making it possible to employ wireless sensors in applications that were not before possible. Combining energy collecting via a small battery with microbatteries enables adaptable shape elements. These batteries' very tiny profile makes them perfect for energy collecting devices. The market for microbatteries is anticipated to see increase due to the introduction of wireless sensors.

The growing need for flexible electronic devices and the trend towards product miniaturization are driving the use of thin film, printed, coin/button, and solid-state chip batteries in consumer electronics. Thinning film products with portable consumer electronics can be powered by batteries. They are also able to adapt to the changing the creation of electronic portables.

The need for micro start batteries, which are often used to power smart meters, is growing as these devices become increasingly integrated into the modern energy system. The market for micro batteries is growing in conjunction with the growing number of smart meters being installed, demonstrating the critical role that these small power sources play in the advancement of energy management technology. This trend represents the continuous worldwide transition towards smarter and more efficient electrical networks and is in line with environmental sustainability goals.

The micro battery market analysis is segmented into type, application, battery type, and region. By type, the market is classified into button batteries, thin film batteries, printed batteries, and solid-state chip batteries. By application, it is bifurcated into consumer electronics, medical devices, smart packaging, smart cards, wireless sensors, and others. By battery type, it is classified  into primary and secondary.

On the basis of region, the micro battery market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Country wise, China holds a significant share in the global micro battery market, owing to the presence of prime players. Major organizations and government institutions in the country are intensely putting resources into this global micro battery these prime sectors have strengthened the growth of the global micro battery market in the region.

KEY FINDINGS OF THE STUDY

• In 2022, the button batteries segment accounted for maximum revenue and is projected to grow at a notable CAGR during the forecast period.
• The primary battery segment anticipated for the largest revenue in 2022.
• China contributed for the major share in the micro battery market, accounting for highest revenue share in 2022.

The key micro battery market leaders profiled in the report include Panasonic Corporation, Murata Manufacturing Co Ltd., TDK Corporation, Maxell Ltd., VARTA AG, Enfucell, Duracell, Molex, Renata, and Seiko Instruments Inc. These key players adopt several strategies such as new product launch & development, acquisition, partnership & collaboration, and business expansion to increase the micro battery market share during the forecast period.