According to recent market study published by Nova one advisor Market reports titled, “Global Micro Battery Market by Type ,Rechargeability , Capacity, Application and Region: Size, Share, Trends and Opportunity Analysis, 2021-2027”, the market was valued at US$ 850 Million by 2027and is expected to grow at a moderate growth rate of 21.8% by the year 2027.
The growth of the micro market is driven by factors such as the use of printed flexible batteries in medical devices to treat COVID-19 patients, several advantages offered by micro batteries over traditional batteries, increasing adoption of wearable devices, growing use of micro batteries in medical and electronic devices, and demand for thin and flexible batteries in IoT applications.
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The market for solid-state chip batteries is expected to grow at a significant rate between 2021 and 2027. These batteries possess superior safety, longer lifespan, and high reliability as it uses non-flammable, stable, and solid electrolyte materials instead of a liquid. This eliminates the risk of fire and leakage. Lithium-ion batteries that have high energy density are commonly used today in electronic devices such as electric bikes, drones, and communication devices. However, as these batteries are made up of a flammable, organic solvent electrolyte, they carry a risk of leakage and fire. This has created a need for safer power and more reliable solid-state batteries containing non-flammable and safe electrolyte materials among the IoT device makers. This is expected to drive the demand for solid-state chip batteries over the forecast period.
The market survey provides compelling insights into important drivers that enable growth. It highlights untapped potential in a variety of industries. For the purpose of the study, the market has been segmented in terms of Type ,Rechargeability , Capacity, Application, and regions. The report presents an incisive view of various factors impacting growth across these categories. Challenges posing threat also are studied in detail.
Apart from underscoring unexplored prospects, the report is intended to prepare businesses for unforeseen challenges in the future. It covers recommendations to help them navigate their businesses through obstacles to continue reporting growth at a sustainable pace.
COVID-19 Impact on Micro Battery Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Micro Battery market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Micro Battery market 2021 onwards. This trend will however continue through the course of the report’s assessment period
Emerging Nations to Continue Attracting Investments
The expansion of various industries across India, China, Brazil, and other emerging countries will help the Micro Battery market flourish. Consistent investment towards industrialization and urbanization, as well as the implementation of policies favouring foreign investment, will continue to be major growth drivers.
Expansion initiatives undertaken by various countries will aid the growth of the Micro Battery market. Besides, the easy availability of raw materials and labours at a cheaper cost will attract an increasing number of companies within the Micro Battery market.
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List of key players:
Blue Spark Technologies (US); Cymbet Corporation (US); Enfucell Oy (Finland); Front Edge Technology, Inc. (US); Molex (US); Panasonic Corporation (Japan); Shenzhen Grepow Battery Co., Ltd. (China); TDK Corporation (Japan); Ultralife Corporation (US); VARTA AG (Germany); Murata Manufacturing Co., Ltd. (Japan); Seiko Instruments (Japan); Maxell Holdings, Ltd. (Japan); Renata SA (Switzerland); and Duracell Inc. (US) were the major players in the micro battery market
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
- Button Battery
- Thin-film Battery
- Printed Battery
- Solid-state Chip Battery
- Primary Batteries
- Secondary Batteries
- Below 10 mAh
- Between 10 mAh & 100 mAh
- Above 100 mAh
- Consumer Electronics
- Medical Devices
- Smart Packaging
- Smart Cards
- Wireless Sensor Nodes
Key Findings of the Micro Battery Market Study
- Backed by the presence of well-established industrial infrastructure and willingness to spend on advanced technologies will strengthen North America’s hold in the global market.
- The Europe market will continue gaining from surging demand in Germany, U.K., Italy, France, and Spain.
- Investment towards industrialization and favourable policies intended at encouraging foreign investment will drive growth in India and China, sealing Asia Pacific’s position as a highly lucrative market for Micro Battery.
- In Latin America, the market will gain from surging focus on economic development.
Why Buy this Report?
The purpose of Nova one advisor’s Micro Battery market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
Some of the key highlights of the report are:
- Micro Battery Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Nova one advisor presents the most precise rate of growth for the market for the assessment period starting from (start year) to (end year).
- Micro Battery Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Key Market Segments – To present an exhaustive overview, the global Micro Battery market is segmented in terms of Type ,Rechargeability , Capacity, Application, and region. Opportunities existing across each of these categories are reflected on to help businesses realize their true potential.
- Competitive Landscape Analysis – Some of the leading companies operating in the Micro Battery market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
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