Micro Battery Market

Global Micro Battery Market Size (2024-2029):

The size of the global micro battery market was worth USD 400 million in 2023. The global market is anticipated to grow at a CAGR of 28.70% from 2024 to 2029 and be worth USD 1,818 million by 2029 from USD 515 million in 2024.

Market Scenario

The expansion of this market will be driven by the expansion in the adoption of wearable devices, the inherent benefits of micro batteries, the need for compact batteries in medical devices, and the growing call for thin and flexible batteries in IoT devices.

The expansion of this market can be attributed to the inherent advantages that micro batteries offer. The micro battery is known as a thin film battery, a combination of two or more electrochemical cells. These cells can convert chemical energy into electrical energy. It is a small, single-cell battery with metal components to protect the body against wire or circuit breakage. This lightweight, flexible, and compact battery offers several benefits, such as customization services to customers by adapting to any product based on its convenience, shape, and size without any loss of efficiency. Micro batteries are lightweight, flexible, and compact and provide customized services without any loss of production efficiency using these batteries. Tubular micro-batteries are among the micro-batteries that last the longest and store large amounts of energy. Also, these batteries are employed as micro USB rechargeable batteries, which can charge cell phones effectively. In addition, the micro battery is also employed as a lithium microcell commonly employed in small electronic devices and watches.

Market Trends

The development in the application of micro batteries in residential, commercial, automotive, consumer electronics, and others is predicted to drive the expansion of the global micro batteries market during the foreseen period. The strong increase in the adoption of wearable devices, smart cards, medical devices, and wireless communication sensors is also contributing to the expansion of the market. Additionally, micro-battery stores are renewable energy sources that make the power supply fluid and predictable. Therefore, the escalating complexity of conventional battery technologies is leading people to turn to advanced and energy-efficient battery solutions, driving the market call for micro batteries worldwide.

Market Drivers

A key driver of the global micro battery market is the growing adoption of IoT in medical devices. The healthcare industry is focused on adopting high-tech solutions due to the escalating level of chronic diseases and an aging population worldwide. The escalating penetration of wearable electronic devices and advanced medical devices is translating into better patient outcomes and lower healthcare costs. Thus, the need for micro-batteries in medical devices is escalating to reduce the size of the devices. Since a micro battery is an important energy source for smart meters, the escalating call for smart meters will also drive the call for micro batteries. Factors contributing to the expansion of the market include the rising use of compact batteries in the healthcare industry and the escalating adoption of wearable devices. The other main factors driving the expansion of the worldwide micro-battery industry are the inherent advantages of solid-state micro-batteries, the expansion in the adoption of portable devices, and the need for compact batteries in medical devices.

Market Restraints

Nevertheless, the high initial price and lack of standardized infrastructure hamper the micro battery industry expansion.

Market Opportunities

A brilliant meter records electrical energy consumption and allows the information to be communicated to the electricity supplier for monitoring and billing. The escalating investments of various governments like the UK, India, and the US in the use of smart meters have led to the expansion of the smart meter market. Additionally, the escalating adoption of wireless sensors in various verticals offers lucrative opportunities for the market to prosper. The micro battery market is predicted to grow during the foreseen period due to drivers such as emerging markets for wearable devices and the escalating applicability of compact batteries in medical devices. Furthermore, the growing call for slim batteries in IoT devices is likely to further expand the micro battery market. Moreover, the escalating adoption of wireless sensors and the development of intelligent textiles offer lucrative opportunities for the micro battery market and the key players involved.

Market Challenges

The technical limitations of micro batteries and high capital investments are predicted to slow the expansion of the micro battery market.

REPORT COVERAGE

Market Segmentation

Global Micro Battery Market Analysis By Type

• Thin film
• Printed
• Solid-State Chip Battery

Based on the type, the thin film battery segment is predicted to have the largest market share in 2026. Thin film batteries are manufactured using all the solid-state materials and inorganic glass electrolytes, through which these batteries are inherently safer than the conventional batteries present in the solid state.

Global Micro Battery Market Analysis By Application

• Smart Cards
• Smart Packaging
• Medical Devices
• Wearable Devices

A smart card, also known as a power card, requires a separate power supply. The micro battery built into the smart card is generally removed from the smart card at the end of its useful life.

Market Regional Analysis

• North America 
• Europe
• Asia Pacific 
• Latin America 
• Middle East & Africa

APAC occupied the majority of the micro-battery market in 2019. In addition to APAC, the North American region also has a significant market share. Asia-Pacific has the largest micro-battery market share due to technological advancements in smart packaging and, in the healthcare sector, the growing call for medical devices, mainly pacemakers, heart rate systems, drug delivery, and medical patches call for micro batteries increases in the area.

Market Key Players

1. Cymbet Corporation (US)
2. STMicroelectronics N.V. (Switzerland)
3. Samsung SDI Co., Ltd. (South Korea)
4. Enfucell Oy Ltd. (Finland)
5. BrightVolt Inc. (US)
6. Power Paper Ltd. (Israel)
7. ProLogium Technology Co., Ltd. (Taiwan)
8. Front Edge Technology, Inc. (US)
9. PolyPlus Battery Co. Inc. (US)
10. Panasonic Corporation (Japan)
11. TDK Corporation (Japan)
12. Blue Spark Technologies, Inc. (US)
13. NEC Energy Solutions Inc. (US)
14. Jenax Inc. (South Korea)
15. Ultralife Corporation (US)
16. Molex (US)

Market Key Developments:

• Micromax Bharat 5 launched in India is the latest low-cost 4G smartphone from the national brand. Apart from its low price, the biggest advantage of the Bharat 5 is its huge 5000 mAh battery. There is also a bundled data offering, announced in partnership with Vodafone.
• Varta Micro battery will launch three new lithium-ion cells for wearable devices at ISPO Munich 2019. Athletes and sports enthusiasts highly rely on smart wearable devices to monitor or improve their performance. Wearable devices and wearable devices are now widely employed as useful training tools for many different sports.