Micro Battery Market Size, Share & Industry Analysis, By Battery Type (Primary and Secondary), By Product Type (Thin Film Batteries, Printed Batteries, and Solid-state Chip Batteries), By Application (Wearable Devices, Portable Electronics, Wireless Sensors, Medical Devices, and Others), and Regional Forecast, 2024-2032

The micro battery market size was valued at USD 433.71 million in 2023. The market is projected to grow from USD 519.78 million in 2024 to USD 2,163.55 million by 2032, exhibiting a CAGR of 19.51% during the forecast period.

Micro batteries are one of the major types of batteries currently growing in production due to the rising demand for them in several applications. These batteries are small in size; hence, they are also called cell-type batteries. A micro battery is a Solid-State Battery (SSB) designed to deliver power to small-scale electronic devices. Healthcare devices, home appliances, and tracking devices are some of the applications where these batteries are used daily. The rising adoption of handy devices, such as watches, home decors, and tracking equipment is the driving factor for the market.

The COVID-19 pandemic negatively impacted the global market. Several sectors, including battery manufacturers, faced a decline in sales due to the spread of the virus. The broader battery market also faced a negative impact. This was due to the unavailability of raw materials, shutdown of manufacturing units, and closure of international and domestic borders. A pause in the supply chain slowed the micro battery market growth.

Micro Battery Market Trends

Integration of Micro Battery Technology as Advancement in Medical Devices Will Boost Market Growth

In recent years, advanced technologies have been implemented in each possible product. A micro battery is one of the essential devices that needs to improve as per the applications. These improvements include better energy density, enhanced safety features, and faster charging capabilities of devices. The rising focus on advancements in medical devices will boost the market growth. Many manufacturers are already trying to develop high-end products that can run for a longer time and integrate with micro batteries. For instance, in 2024, Sonic, a U.S.-based manufacturer of hearing care solutions, launched its Enchant miniRITE with the ZPower rechargeable battery system, which is designed to deliver all-day power without the need for regular battery changes. Such innovations can create an open opportunity for the market. The increasing focus on handy medical devices will also positively impact the market.

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Micro Battery Market Growth Factors

Rising Adoption of Wearable Devices to Create Positive Impact on Battery Market

Wearable devices are any electronic device built to be worn on the user's body. This device can take many different forms, including accessories, jewelry, medical devices, and clothing. A micro battery is required to run these devices without any breaks. Recently, these batteries have become an essential part of wearable devices. This is due to the trending applications of the devices, such as temperature measuring and active sensors in watches. The rising adoption of wearable devices will drive the market in the coming years.

For instance, as per the data by the National Ability Center, the global sales of all sports-related wearable technology will touch USD 212.7 billion by 2029.

Growing Demand for Thin and Flexible Batteries Will Drive Market Growth

The applications of micro batteries are growing due to the increasing need for smart devices. Many portable devices, such as smart watches, earbuds, and medical devices require thin and flexible battery solutions. Thin film batteries are one of the innovations driving the requirement for such devices. These batteries are currently being used in the radio frequency identification tags and smart cards. These products are trending devices that are backing the market. It is expected that the market will gain major traction in the coming years due to a rise in the popularity of trendy portable devices.

RESTRAINING FACTORS

Complexity in Manufacturing Micro Battery to Hinder Market Growth

Micro batteries are of different types, including complex batteries. Thin film batteries are one of the micro battery types that are extremely complex to manufacture. The layers that comprise the anode, cathode, and electrolyte are not easy to design due to their thickness. In addition, the volume of thin-film batteries controls their power capacity. Such complex structures involved in the production of micro batteries are hampering the market growth. Hence, there are a limited number of manufacturers who are in the business of micro batteries.

Micro Battery Market Segmentation Analysis

By Battery Type Analysis

Adoption of Rechargeable Batteries will Boost Market Growth

Based on battery type, the market is divided into primary and secondary. The secondary batteries segment is dominating the market. Also known as rechargeable batteries, these batteries can be recharged and used for different purposes, thereby reducing electronic waste. In addition, the demand for rechargeable electronic products has been rising in the secondary battery market in recent years. As the sales of consumer electronics are growing in numbers, rechargeable batteries are witnessing higher demand.

The primary batteries segment is estimated to be the fastest-growing segment. This is driven by the increasing use of small use-and-throw products, such as lighting systems and toys. Primary batteries are also working on the long-run capacity technology; hence, the market will grow appreciably in the next few years.

By Product Type Analysis

Thin Film Batteries Hold Maximum Market Share Due to Their Application in Flexible and Small-Sized Devices

Based on product type, the market is segmented into thin film batteries, printed batteries, and solid-state chip batteries. Thin film battery is the dominating segment in the global micro battery market. The segment’s dominance is driven by the application of these batteries in flexible devices, such as smart cards, radio frequency identification tags, and foldable electronic devices. This segment is also expected to grow considerably in the coming years owing to the rising demand for flexible batteries.

The solid-state chip batteries segment is one of the fastest-growing segments in the market. These batteries are used in wearable devices, such as smartwatches, and earbuds. The rising demand for these products is driving the use of solid-state chip batteries. The printed batteries segment is also contributing to the growth of the global micro battery market share. Increasing sales of consumer electronics products is one of the key factors supporting the segment’s growth.

By Application Analysis

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Growing Sales of Wearable Devices Boosts Demand for Micro Battery Market

Based on application, the market is segmented into wearable devices, portable electronics, wireless sensors, medical devices, and others. The wearable devices segment is the dominating segment in the market. Recent wearable technologies fall under a comprehensive spectrum of usability, including V.R. headsets, Fitbit chargers, and smart jewelry. The launch of these advanced products is driving the segment’s growth. The portable devices segment is one of the fastest-growing segments in the market. The increasing demand for portable electronics is contributing significantly to the growth of the market.

Wireless sensors are one of the most in-demand products in the U.S., China, India, and Germany. This is owing to their applications in advanced technologies, such as smart homes. This is driving the wireless sensor segment’s growth. The medical devices segment will hold a major market share during the forecast period. This is owing to advancements in the healthcare sector, which have boosted the requirement for micro batteries. The focus on technology-based medical devices will boost the segment’s progress.

REGIONAL INSIGHTS

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Asia Pacific is the dominant region in the global market, driven by the rising demand for micro batteries in various applications. Increasing sales of wearable devices and portable electronics are the major contributors to the market’s growth. In addition, China is driving the region’s growth owing to the huge market for batteries. This factor is supporting the sales of small and micro batteries in the region.

Europe is forecast to be one of the leading regions in the global market. This is owing to advancements in the region's micro batteries. Rising integration of advanced technologies in computing devices, sensors, and wireless communication devices are factors driving the region's progress.

North America is also contributing to the global market due to the increasing development of micro batteries. The availability of reputed battery manufacturers is driving the market’s growth in the region. The U.S. is leading the regional market’s progress owing to the rapid use of these batteries in applications, such as medical devices and portable devices.

Latin America's market has also shown significant growth in recent years. This is owing to the growing demand for wearable devices in the region. In addition, growing sales of consumer electronics powered by micro batteries are backing the region's growth. Brazil and Mexico are holding a fair share in the Latin American market.

The Middle East & Africa is witnessing market expansion by focusing on advanced technologies, such as thin film batteries to develop exciting portable electronic products. In addition, the UAE, Qatar, and Saudi Arabia are driving the market owing to the growing demand for wearable devices among the youth.

KEY INDUSTRY PLAYERS

Leading Players are Collaborating with Governments, Organizations, and Industries to Create Sustainable Future

The market is focused on investments and a strong product portfolio by leading players, such as ITEN, Enfucell, Ultralife Corporation, Molex, LLC, and others. Molex, LLC is providing ultra-small connectors, flexible printed circuits (FPCs), and specialized interconnect solutions crucial for compact devices. Their advanced manufacturing capabilities, including precision surface mount and micro soldering, enable seamless integration of micro batteries in intricate circuits. Molex’s focus on miniaturization supports space-saving designs ideal for wearables and medical implants, while their packaging and encapsulation solutions protect micro batteries from moisture, extreme temperatures, and leaks, ensuring durability. They also offer biocompatible, sterilizable materials suited for medical and industrial applications and work closely with manufacturers to deliver customized solutions tailored to specific device needs.

List of Top Micro Battery Companies:

• ITEN (France)


• Enfucell (Finland)


• Ultralife Corporation (U.S.)


• Molex, LLC (U.S.)


• Panasonics (Japan)


• Murata Manufacturing Co., Ltd. (Japan)


• TDK Corporations (Japan)


• Maxell, Ltd. (Japan)


• VARTA AG (Germany)


• Renata SA (Switzerland)

KEY INDUSTRY DEVELOPMENTS:

• June 2024 – CORE SWX revealed its new Gold-mount and V-mount NANO X micro batteries featuring a first-of-its-kind NexCore casing composite crafted from robust polycarbonate. Moreover, NANO X Micro claims to offer supreme protection from impacts and vibrations.


• March 2024 – Ensurge Micropower, one of the leading micro battery manufacturers, launched its new lithium ion micro battery technology for hearables, wearables, and other applications. Moreover, repurposing manufacturing technology was initially built for RFID tag production.


• November 2023 – The U.S. Department of Energy (DoE) announced awards for eight fresh designs for microbatteries through its Microbattery Design Prize. The purpose of this prize was to quicken the commercialization of these groundbreaking micro battery designs, along with their addition to the current technologies desirable for clean energy manufacturing.


• September 2021 – The Fraunhofer Research Institution for Battery Cell Production, PEM Motion, and RWTH Aachen University announced the creation of the "Technology Cluster Battery Cell". The initiative's goal is to take advantage of new technologies, such as AI to innovate the production of battery cells.


• January 2019 – Sonic, a U.S.-based manufacturer of hearing care solutions, announced the launch of its new Enchant miniRITE with the ZPower rechargeable battery system, designed to deliver all-day power without the need for regular battery changes. It will help the device hold more than 40% charge.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects, such as leading companies, product types, and top applications of the product. Besides, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.

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Report Scope & Segmentation