The micro battery market size was valued at US$ 773.72 million in 2022, and it is estimated to reach US$ 3,228.80 million by 2030. The micro battery market is estimated to record a CAGR of 19.6% from 2022 to 2030.
In Asia Pacific, China is the largest manufacturer of consumer electronic devices. According to Nikkei Inc., the Chinese government is working on various plans to expand the country's domestic electronic market by investing US$ 327 billion till 2023. In addition, the Indian government is expanding the electronics market in the country. According to the Ministry of Electronics & IT, initiatives by the Indian government and efforts of the industry have led to the domestic production of electronic goods with revenue of US$ 74.7 billion in 2020 and a CAGR of 17.9%. A few government policies for electronics manufacturing include the Production Linked Incentive (PLI) Schemes, the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), and the Modified Electronics Manufacturing Cluster (EMC 2.0) Scheme. Furthermore, the electronics sector in Asia Pacific accounts for 20-50% of Asia's total value of exports. As Asia Pacific is the largest electronic manufacturer, the demand for micro batteries will rise across the region during the forecast period. Thus, the growing manufacturing industry fosters the micro battery market growth in the region.
Based on application, the micro battery market is segmented into consumer electronics, smart packing, medical devices, wireless sensor nodes, others. The consumer electronics segment held the largest share in the market in 2022. Micro batteries are the tiny powerhouses that keep many essential consumers electronics functioning. Micro batteries have common uses in consumer electronics, including wearables and remote controls. The low-power draw of these devices makes micro batteries a perfect fit. Beyond these common applications, micro batteries are also finding their way into new and innovative consumer electronics. For example, they are used in wearables, smart home devices, and others. Numerous applications of micro battery are boosting the micro battery market growth.
Micro batteries are increasingly crucial in powering a wide range of medical devices, from tiny implantable sensors to portable diagnostic tools. Their small size, long shelf life, and reliable performance make them ideal for applications where traditional batteries are too bulky or impractical. Micro batteries are used in medical devices in several ways, such as Implantable sensors and drug delivery devices. Micro batteries can power pumps that deliver medication directly to the site of action. This can be more effective and less invasive than traditional methods of drug delivery, such as pills and injections and portable diagnostic tools. Moreover, micro batteries are commonly used to power hearing aids. Their small size and long shelf life make them ideal for this application. Micro batteries have a vast potential in medical devices. All such factors are boosting the growth of market in the healthcare sector.
Molex LLC, Murata Manufacturing Co Ltd, Varta AG, Duracell Inc, Renata Sa, Maxell Holdings, Ltd, Seiko Instruments Inc, Riot Energy Inc, Panasonic Energy Co Ltd, and Enfucell Flexible Electronics Ltd are among the key micro battery market players that are profiled in this market study. These micro battery market players are focused on continuous product development and innovation.
The overall micro battery market analysis has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the micro battery market analysis. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the micro battery market.
Reasons to Buy
In Asia Pacific, China is the largest manufacturer of consumer electronic devices. According to Nikkei Inc., the Chinese government is working on various plans to expand the country's domestic electronic market by investing US$ 327 billion till 2023. In addition, the Indian government is expanding the electronics market in the country. According to the Ministry of Electronics & IT, initiatives by the Indian government and efforts of the industry have led to the domestic production of electronic goods with revenue of US$ 74.7 billion in 2020 and a CAGR of 17.9%. A few government policies for electronics manufacturing include the Production Linked Incentive (PLI) Schemes, the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), and the Modified Electronics Manufacturing Cluster (EMC 2.0) Scheme. Furthermore, the electronics sector in Asia Pacific accounts for 20-50% of Asia's total value of exports. As Asia Pacific is the largest electronic manufacturer, the demand for micro batteries will rise across the region during the forecast period. Thus, the growing manufacturing industry fosters the micro battery market growth in the region.
Based on application, the micro battery market is segmented into consumer electronics, smart packing, medical devices, wireless sensor nodes, others. The consumer electronics segment held the largest share in the market in 2022. Micro batteries are the tiny powerhouses that keep many essential consumers electronics functioning. Micro batteries have common uses in consumer electronics, including wearables and remote controls. The low-power draw of these devices makes micro batteries a perfect fit. Beyond these common applications, micro batteries are also finding their way into new and innovative consumer electronics. For example, they are used in wearables, smart home devices, and others. Numerous applications of micro battery are boosting the micro battery market growth.
Micro batteries are increasingly crucial in powering a wide range of medical devices, from tiny implantable sensors to portable diagnostic tools. Their small size, long shelf life, and reliable performance make them ideal for applications where traditional batteries are too bulky or impractical. Micro batteries are used in medical devices in several ways, such as Implantable sensors and drug delivery devices. Micro batteries can power pumps that deliver medication directly to the site of action. This can be more effective and less invasive than traditional methods of drug delivery, such as pills and injections and portable diagnostic tools. Moreover, micro batteries are commonly used to power hearing aids. Their small size and long shelf life make them ideal for this application. Micro batteries have a vast potential in medical devices. All such factors are boosting the growth of market in the healthcare sector.
Molex LLC, Murata Manufacturing Co Ltd, Varta AG, Duracell Inc, Renata Sa, Maxell Holdings, Ltd, Seiko Instruments Inc, Riot Energy Inc, Panasonic Energy Co Ltd, and Enfucell Flexible Electronics Ltd are among the key micro battery market players that are profiled in this market study. These micro battery market players are focused on continuous product development and innovation.
The overall micro battery market analysis has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the micro battery market analysis. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the micro battery market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the micro battery market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the micro battery market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Micro Battery Market Landscape
5. Micro Battery Market - Key Industry Dynamics
6. Micro Battery Market - Global Market Analysis
7. Micro Battery Market Analysis - Type
8. Micro Battery Market Analysis - Rechargeability
9. Micro Battery Market Analysis - Application
10. Micro Battery Market - Geographical Analysis
11. Micro Battery Market - Impact of COVID-19 Pandemic
12. Competitive Landscape
13. Industry Landscape
14. Company Profiles
15. Appendix
List of Tables
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Molex LLC
- Murata Manufacturing Co Ltd
- Varta AG
- Duracell Inc
- RENATA SA
- Maxell Holdings, Ltd
- Seiko Instruments Inc
- Riot Energy Inc
- Panasonic Energy Co Ltd
- Enfucell Flexible Electronics Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 159 |
| Published | January 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 773.72 Million |
| Forecasted Market Value ( USD | $ 3228.8 Million |
| Compound Annual Growth Rate | 19.6% |
| Regions Covered | Global |
