Global Flexible Battery Market Analysis (2023 - 2030)
As per our research report, the global flexible battery market is predicted to be worth USD 126.2 million in 2021 and USD 365.4 million by 2026, with a CAGR of 23.7%
The rising number of R&D activities in the development of flexible batteries for wearable devices, the mass adoption of thin and flexible batteries in flexible electronic devices, the trend of miniaturisation of electronic devices, surging demand for flexible batteries in IoT applications, and an increasing use of flexible batteries in medical devices to treat COVID-19 patients are likely to drive the growth of this market. Due to the significant investment necessary for production and the absence of suitable standardisation for the development of flexible batteries, the market is limited. The market will benefit from the development of tiny and flexible batteries for Internet of Things (IoT) devices.
Covid-19 have resulted in surge in the demand of flexible batteries as the medical devices required to diagnose Covid-19 requires flexible batteries.Despite the COVID-19 dilemma, the worldwide market for Flexible Batteries, which was forecast to be worth US$294.2 million in 2020, is expected to increase at a CAGR of 40.8 percent to reach US$2.4 billion by 2026. One of the report's sectors, Thin-Film Battery, is expected to grow at a 39.8% CAGR and reach US$1.7 billion by the conclusion of the research period. After a careful examination of the pandemic's commercial ramifications and the resulting economic crisis, the Printed Battery segment's growth is updated to a revised 41.5 percent CAGR over the next seven years.
KEY MARKET INSIGHTS:
- Based on the type, several firms are inventing and supplying flexible batteries to power temperature sensors, pacemakers, and smart patches, and they are becoming more popular in the medical device market. New battery-powered medical gadgets have emerged as a result of technological improvements and IoT penetration in the medical industry. Implantable medical equipment like brain stimulators, pacemakers, and defibrillators require batteries that can provide consistent, reliable power for an extended period of time. Flexible batteries, with their great dependability and performance, suit these requirements. Flexible and thin power sources are used in new types of pacemakers, medication delivery systems, medical patches, medical diagnostic sensors, disposable medical devices, and biosensors. Flexible batteries are ideal for these applications because of their size and flexibility.
- Based on the application, Smart cards, Smart Packing, wearable gadgets, and medical equipment all employ thin-film batteries. These batteries have better performance and a higher average output voltage than large solid-state batteries, as well as less risks of electrolyte leakage. Because of the rising need for miniaturised goods in various applications, thin-film lithium-ion flexible batteries have become more popular, propelling the thin-film batteries market to considerable growth. The growing need for smart cards for payment applications in the telecommunications, banking, and transportation sectors has also supported the expansion of the flexible battery market's thin-film batteries segment.
- Based on the geography, in the year 2021, the Flexible Batteries market in the United States is expected to be worth US$133.3 million. China, the world's second biggest economy, is expected to reach a market size of US$386.8 million by 2026, representing a CAGR of 38.6% over the study period. Japan and Canada are two additional prominent geographic markets, with growth forecasts of 37.6% and 34.6 percent, respectively, for the research period. Germany is expected to expand at a CAGR of roughly 27.7% in Europe.
- The United States, Canada, Japan, China, and Europe are expected to fuel the worldwide Curved Battery segment's 47.7% CAGR. By the end of the analysis period, these regional markets, which had a combined market value of US$28.3 million in 2020, will have grown to US$433.8 million. In the regional market, China is expected to continue to be the fastest growing country.
MARKET SEGMENTATION
Global Flexible Battery Market - By Type:
- Thin-film Batteries
- Printed Batteries
Global Flexible Battery Market - By Rechargeability:
- Primary Batteries
- Secondary Batteries
Global Flexible Battery Market- By Application:
- Consumer Electronics
- Smart Packaging
- Smart Cards
- Medical Devices
- Wireless Sensors
- Others
Global Flexible Battery Market- By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
For More Info, Request Sample Copy Of This Report @ https://virtuemarketresearch.com/report/flexible-battery-market/request-sample
