Increasing Focus on Sustainability to Provide Opportunities for Micro battery Market During 2022–2030
According to our latest study on "Micro Battery Market Global and Regional Share, Trend, and Growth Opportunity Analysis – by Type, Rechargeability, Application, and Geography," the market is estimated to grow from US$ 773.72 million in 2022 to US$ 3,228.80 million by 2030; it is projected to register a CAGR of 19.6% from 2022 to 2030.
The increasing trend of miniaturization in consumer electronics is a significant driving factor for the micro battery market. As electronic devices become smaller and more compact, there is a growing need for smaller and more efficient power sources to support their operation. The rising adoption of wearable devices, such as smartwatches, fitness trackers, and medical wearables, is fueling the demand for micro batteries. These devices require compact and lightweight power sources to ensure long-lasting and reliable performance. The rapid advancements in the Internet of Things (IoT) and wireless sensor technologies drive the demand for micro batteries. Wireless sensors, which are widely used in various applications, rely on micro batteries as a viable power supply option. The growth of IoT applications and the need for reliable power sources is expected to fuel the micro battery market growth.
Micro Battery Market – by Geography, 2022
Micro Battery Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Thin Film Battery, Solid State Chip Battery, and Button Battery), Rechargeability (Primary Battery and Secondary Battery), Application (Consumer Electronics, Smart Packing, Medical Devices, Wireless Sensor Nodes, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Micro Battery Market - Global Size, Share and Forecast 2030
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Source: The Insight Partners Analysis
The need for condensed batteries in medical devices, such as hearing aids, pacemakers, and surgical tools, is a significant driver for the market. These devices require small and lightweight power sources that can provide long-lasting performance and ensure patient safety. The demand for thin and flexible batteries in IoT devices is another driving factor for the market. As IoT devices are increasingly being integrated into various industries, there is a need for batteries that can conform to different shapes and sizes while maintaining high energy density and reliability.
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 a few of the key micro battery market players. Several other major micro battery market players were also studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The micro battery market report provides detailed market insights, which help the key players strategize their growth.
The micro battery market in France has undergone substantial growth and transformation in recent years. The French government has implemented a range of initiatives aimed at promoting and facilitating the adoption of electric vehicles (EVs) in France. These initiatives are strategically designed to accelerate the transition from traditional internal combustion engine vehicles to more sustainable and environmentally friendly electric alternatives. For example, in March 2021, France unveiled a funding program with an investment of US$ 113 million to improve the fast-charging infrastructure for EVs nationwide. This program aims to support the installation of fast charging stations and encourage EV manufacturers to establish charging hubs along the national road network in France. These advancements play a crucial role in driving the micro battery market growth in the country.
Moreover, investment from the French government has played a major role in propelling the growth of the market. For instance, in May 2023, France announced the launch of its battery factory for the first time. The newly established "gigafactory" in Billy-Berclau is owned by Automotive Cells Company, a joint venture between TotalEnergies, a prominent French energy company, Mercedes-Benz from Germany, and Stellantis. This transatlantic automaker manufactures renowned brands such as Peugeot, Fiat, and Chrysler. This state-of-the-art facility is dedicated to producing electric vehicle batteries, further solidifying the partnership's commitment to advancing sustainable mobility solutions.
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