Flexible Batteries Market Research Report - Segmentation By Size, Share, Growth, Trends, COVID-19 Impact Analysis - Industry Forecast (2022 to 2027)

  • Category : Energy & Power |
  • Report Code : VMR-41553 |
  • Pages: 200 |
  • Published : 2022-05 |
  • Region: Global |
  • Avilable Format : format excel,ppt, Pdf |
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Flexible Batteries Market size(2022-2027)

The global Flexible Batteries Market size to reach $ 98 million in 2021 and is estimated to grow to $296 million by 2027. This market is witnessing a healthy CAGR of 24.07 % from 2022 to 2027. Flexible batteries are identified by their conformability, and portability, making them ideal for usage in products like adjustable and wearable devices. As a result, greater work is being put into developing a variety of flexible power springs, including primary and rechargeable batteries with high energy density and high flexibility. Traditional batteries, such as zinc-carbon and lithium-ion, have been adapted in various ways, while new materials for flexible battery and supercapacitor electrodes, such as those based on nanoparticle systems, have also been proposed. For example, improved flexible lithium-ion batteries are being developed. Another advancement is the paper-thin flexible self-rechargeable battery, which combines a thin-film organic solar cell with an incredibly thin and flexible lithium-polymer battery.

A flexible battery provides flexibility and portability in electronic devices. The replacement of conventional batteries with flexible batteries increases durability, improves efficiency, and reduces the weight of the product. Smart cards, flexible displays, wearable devices, and innovative packages all make use of it. A flexible battery's main advantages are its environmental friendliness and ease of use.

The growing need for thin and flexible batteries in electronic devices, as well as the shrinking of electronic products, are driving the global flexible battery market forward. Furthermore, huge firms are expanding their research and development activities, which promotes growth. However, the market's growth has been hampered by the expensive investment required and the absence of appropriate standards for the development of flexible batteries. Wearable electronics and the development of thin and flexible batteries in the Internet of Things, on the other hand, are generating a lot of buzz.

MARKET DRIVERS

Increasing demand for wearable devices drives the flexible battery market

There is an increase in the market of wearables that are electronically connected which makes it a big market. The wearable demand flexible batteries, which are used to power the electronics which in turn create a very big market to grow.

With the widespread use of portable medical devices during the COVID-19 pandemic, flexible batteries were in high demand

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 neural stimulators, pacemakers, and defibrillators require batteries that can provide consistent, reliable power for an extended period. Flexible batteries, with their great reliability and performance, suit these requirements. Flexible and thin power sources are used in new types of pacemakers, drug delivery systems, medical patches, medical diagnosis sensors, disposable medical devices, and biosensors. Flexible batteries are ideal for these applications because of their size and flexibility.

Demand for thin Film Batteries boosts flexible batteries market growth

Thin Film batteries are widely used in Smart Packaging and smart cards, wearable devices, and medical devices. They offer high performances and higher voltage which increases the output of the system.

MARKET RESTRAINTS

The lack of proper standards for the betterment of flexible batteries brings down market growth

The market's growth is being hampered by the demand for significant investment and the lack of adequate standards for the advancement of flexible batteries. Wearable electronics and the development of thin and flexible batteries in the Internet of Things, however, are creating tremendous market prospects.

High production costs hampering the growth of the flexible batteries market

High production costs have led to a decline in the flexible batteries market. Flexible batteries are a very competitive market which in turn leads to high competition among the key players for the capture of major market share.

Market Segmentation Analysis

Flexible Battery Market - By Type:

  • Thin-Film Li-Ion
  • Flexible Lithium Polymer
  • Printed Battery
  • Curved Battery
  • Paper Battery

Based on the Type, Thin-film batteries are often used in smart packaging, chip cards, portable devices, and medical devices. These batteries have a small possibility of excellent performance and high average output voltage, and electrolyte leak as a small solid stat battery. An increase in demand for small products used in these applications increases the adoption of thin-film lithium-ion flexible batteries, which drives the growth of thin-film battery segments. The increase in demand for smart cards in telecommunication applications telecommunications, banking, and transport industries also maintains the growth of thin-film batteries in Flexible Battery.

Flexible Battery Market - By Voltage:

  • Below 1.5
  • Between 1.5 v and 3V
  • Above 3v

Demand for flexible batteries with voltages above 3V is estimated to increase during the forecast period. Flexible batteries with voltages above 3V offer higher performance, longer life, and safety than other flexible batteries. The use of these batteries is increasing due to the development of a series of compact electronic devices that are generally bulky with conventional batteries. These batteries are used in home appliances and wearables

Flexible Battery Market - By Capacity:

  • Below 10 mAh
  • Between 10 mAh and 100 mAh
  • Above 100 mAh

Flexible Battery Market - By Rechargeability:

  • Primary Battery
  • Secondary Battery

Based on Recharge ability, there are only two types of batteries primary and secondary. Primary batteries are used only once which is why they are not in very use which makes them less popular but secondary batteries are more than the best. They can be used many times which is why they are in great demand. Many kinds of devices use secondary types of batteries such as mobile phones and torches.

Flexible Battery Market - By Application:

  • Consumer Electronics
  • Smart Packaging
  • Smart Cards
  • Medical Devices
  • Wireless Sensors
  • Others (Drones, Displays, Energy Harvesting, and Smart Textiles)

Based on Application, Flexible batteries are increasingly being used in the medical device industry as several manufacturers develop and provide flexible batteries to power temperature sensors, pacemakers, and smart patches. Technological advances and the penetration of the IoT in the medical field have created opportunities for new battery-powered medical devices. Implantable medical devices such as neurostimulators, pacemakers, and defibrillators require batteries that can provide consistent and reliable performance over time. Flexible batteries meet these requirements due to their excellent reliability and performance. New versions of cardiac pacemakers, drug delivery systems, medical patches, medical diagnostic sensors, single-use medical devices, and biosensors use flexible, thin power supplies. The size and flexibility of the flexible battery perfectly meet these requirements. Therefore, the medical device segment holds a significant share of the flexible battery market.

Flexible Battery Market - By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World(Middle East, South America, and Africa)

Geographically, the demand for IoT-enabled devices and portable consumer products in countries such as China, Japan, and Korea is increasing. Korea has developed a flexible battery for learning products such as smartphones, Intelligent Glasses, Mobile Devices, etc. Curved, LG Chem, and Samsung SDI. Asia-Pacific has continuously increasing popular packaging, which needs to integrate flexible battery intelligent packaging. China's entertainment electronics industry also produces a decrease in production by the occurrence of COVID19. With the passage of partial terminals of Chinese manufacturing facilities, the global price of consumer products has passed over the next few months. As a result, the supply of parts such as batteries required for home appliances will be insufficient, which is estimated to adversely affect the growth of the flexible battery market in 2021.

Due to continued research and development operations in these countries linked with flexible battery manufacturing technology, the European and North American regions are also likely to increase at a significant rate.

Flexible Battery Market Share by company

Samsung SDI (Korea), LG Chem(Korea), Enfucell Oy Ltd. (Finland), Blue Spark Technologies (US), Apple, Inc. (US), Panasonic (Japan), Ultralife Corporation (US), BrightVolt(US), Imprint Energy (USA), Energy Diagnostics (UK), Jenax (South Korea)) are the leading players in the flexible battery market. Samsung SDI (US) is the world's leading provider of flexible battery technology.

Through technological development, we strive to increase our presence in the market and create an advanced future. The company has launched two innovative small lithium-ion batteries (ribbon and strip batteries) for use in portable devices. These batteries bend like fibers. Tape batteries are designed to extend the device's original battery life by up to 50%. The strip battery is designed to a depth of 0.3mm and can be used in wearable devices such as smart necklaces and interactive garment designs. Samsung SDI operates in countries such as South Korea, Malaysia, China, Mexico, Vietnam, Austria, Russia, the USA, India, Taiwan, and Japan.

NOTABLE HAPPENINGS IN THE FLEXIBLE BATTERY MARKET IN THE RECENT PAST:

  • Product Launch - In August 2019, Samsung announced that they would be introducing graphene batteries to enter the mobile phones.
  • Collaboration - In Aug 2019. Stanford University has developed a highly flexible sticker called Bodynet which does have any chip or any other rigid components.

 

COVD-19 impact on Flexible Batteries Market

The outbreak of COVID-19 has created a negative impact on this sector. The Battery market faced a drastic decrease in the number of sales when COVID hit the market. There was a shortage of labor and workers which created a very harsh effect on this Industry which can be seen in the market.  Due to covid, the battery market began a downfall because the chips and semiconductor market was also a big loss. So there was an overall negative impact on the battery market due to Covid-19

Chapter 1. Global Flexible Batteries Market – Scope & Methodology

1.1. Market Segmentation

1.2. Assumptions

1.3. Research Methodology

1.4. Primary Sources

1.5. Secondary Sources

Chapter 2. Global Flexible Batteries Market – Executive Summary

2.1. Market Size & Forecast – (2022 – 2027) ($M/$Bn)

2.2. Key Trends & Insights

2.3. COVID-19 Impact Analysis

       2.3.1. Impact during 2022 - 2027

       2.3.2. Impact on Supply – Demand

Chapter 3. Global Flexible Batteries Market – Competition Scenario

3.1. Market Share Analysis

3.2. Product Benchmarking

3.3. Competitive Strategy & Development Scenario

3.4. Competitive Pricing Analysis

3.5. Supplier - Distributor Analysis

Chapter 4. Global Flexible Batteries Market Entry Scenario

4.1. Case Studies – Start-up/Thriving Companies

4.2. Regulatory Scenario - By Region

4.3 Customer Analysis

4.4. Porter's Five Force Model

       4.4.1. Bargaining Power of Suppliers

       4.4.2. Bargaining Powers of Customers

       4.4.3. Threat of New Entrants

       4.4.4. Rivalry among Existing Players

       4.4.5. Threat of Substitutes

Chapter 5. Global Flexible Batteries Market - Landscape

5.1. Value Chain Analysis – Key Stakeholders Impact Analysis

5.2. Market Drivers

5.3. Market Restraints/Challenges

5.4. Market Opportunities

Chapter 6. Global Flexible Batteries Market – By Type

6.1. Thin-Film Li-Ion

6.2. Flexible Lithium Polymer

6.3. Printed Battery

6.4. Curved Battery

6.5. Paper Battery

Chapter 7. Global Flexible Batteries Market – By Voltage

7.1. Below 1.5

7.2. Between 1.5 v and 3V

7.3. Above 3v

Chapter 8. Global Flexible Batteries Market – By Capacity

8.1. Below 10 mAh

8.2. Between 10 mAh and 100 mAh

8.3. Above 100 mAh

Chapter 9.Global Flexible Battery Market - By Rechargeability:

9.1. Primary Battery

9.2. Secondary Battery

Chapter 10.Global Flexible Battery Market - By Application:

10.1. Consumer Electronics

10.2. Smart Packaging

10.3. Smart Cards

10.4. Medical Devices

10.5. Wireless Sensors

10.6. Others (Drones, Displays, Energy Harvesting, and Smart Textiles)

Chapter 11. Global Flexible Batteries Market- By Region

11.1. North America

11.2. Europe

11.3. Asia-Pacific

11.4. Rest of the World(Middle East, South America, and Africa)

Chapter 12. Global Flexible Batteries Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)

12.1. Company 1

12.2. Company 2

12.3. Company 3

12.4. Company 4

12.5 Company 5

12.6. Company 6

12.7. Company 7

12.8. Company 8

12.9. Company 9

12.10. Company 10

  • Primary & Secondary Sources to Collect & Validate Data

  • Utilization of Both Top Down & Bottom Up Approach

  • Holistic Research Methodology


Scope & Introductory Research

In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.​

Data Collection 

Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders. ​

Data Fusion

At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.

Data Analysis

At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.

Verification ​

Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report. ​

Quality Assurance & Report Preparation​

Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.​

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