USD 102.6060492 million
Flexible Batteries Market Size, Share, Growth Analysis, By Type(Thin-film batteries and printed batteries), By Rechargeability(Primary batteries and secondary batteries), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20D2080 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
59
|Figures:
79
Flexible Batteries Market Insights
Flexible Batteries Market size was valued at USD 102.6060492 million in 2021 and is poised to grow from USD 142 million in 2022 to USD 892.5323753 million by 2030, growing at a CAGR of 24.7% in the forecast period (2023-2030).
The purpose of flexible batteries is to provide a reliable and efficient power source for electronic devices that require flexibility or conformability. Unlike traditional rigid batteries, flexible batteries can be bent, twisted, or molded to fit the shape of the device, making them ideal for use in wearables, medical devices, and Internet of Things (IoT) devices. Flexible batteries enable the development of new types of electronic devices that were not possible before. For example, wearable devices, such as smart watches and fitness trackers, require a lightweight and flexible power source that can be comfortably worn on the body. Medical devices, such as implantable medical devices and medical patches, require a power source that can be integrated into the device and is flexible enough to adapt to the shape of the human body. In addition, flexible batteries can improve the performance of existing electronic devices. By eliminating the need for rigid batteries, flexible batteries can reduce the weight and size of electronic devices, while increasing their flexibility and durability.
The Global Flexible Batteries market is expected to experience significant growth due to the growing demand for flexible batteries in various industries, including wearables, medical devices, and Internet of Things (IoT) devices. Technological advancements in the flexible battery industry, such as advancements in printing and thin-film battery technology, are expected to drive the growth of the market. High manufacturing costs associated with the production of flexible batteries are one of the major challenges faced by the market. However, the increasing demand for flexible batteries is expected to drive down costs in the long run. The increasing use of wearable devices such as smart watches and fitness trackers is expected to drive the growth of the global market. The potential for recycling flexible batteries is an important aspect of the market that offers new opportunities for growth. As the demand for flexible batteries increases, so does the need for environmentally sustainable and responsible disposal and recycling of these batteries. Flexible batteries are made up of a range of materials, including lithium, copper, and aluminum, which can be recovered and reused through recycling. This not only reduces the environmental impact of battery disposal but also creates a new market for recovered materials, which can be used in the production of new batteries or other products. In addition, recycling flexible batteries can help reduce the costs associated with the production of new batteries, as recovered materials can be used in the production process. This can lead to the more cost-effective and sustainable production of flexible batteries, which can drive growth in the market. Furthermore, regulations and policies around the disposal and recycling of batteries are becoming increasingly strict, making it important for manufacturers to consider the end-of-life of their products. By implementing recycling programs and processes, manufacturers can demonstrate their commitment to environmental sustainability and differentiate themselves in the market.
US Flexible Batteries Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Thin-film batteries
Fastest Growth
Thin-film batteries
Growth Rate
24.7% CAGR
Global Flexible Batteries Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
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Flexible Batteries Market Segmental Analysis
Global Flexible Batteries Market is segmented based on type, rechargeability and region. Based on type, the market is segmented into thin-film batteries and printed batteries. Based on rechargeability, the market is segmented into primary batteries and secondary batteries. Based on region, the global market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Flexible Batteries Market Analysis by Type
The largest segment of the Global Flexible Battery Market is the thin-film batteries segment, currently dominating the global market. This can be attributed to the increasing demand for wearable devices such as fitness trackers, smart watches, and medical devices that require small, lightweight, and flexible batteries. Thin-film batteries are a type of flexible battery that uses thin-film technology to produce batteries that are thin and flexible. These batteries are often used in wearable devices such as fitness trackers, smart watches, and medical devices due to their lightweight, compact size, and flexibility. They are also used in RFID tags, smart cards, and other small electronic devices. Thin-film batteries are typically manufactured using materials such as lithium, copper, and aluminum.
The printed batteries segment is expected to be the fastest-growing segment in the global market during the forecast period. This is due to the increasing demand for IoT devices and the growing adoption of printed batteries in various industries such as automotive, aerospace, and healthcare. The growth of the printed batteries segment is also attributed to the advancements in printing technologies such as screen printing, inkjet printing, and spray coating, which has enabled the production of printed batteries with improved performance and reduced manufacturing costs.
Flexible Batteries Market Analysis by Rechargeability
The largest segment of the global flexible battery market was secondary batteries. This is because secondary batteries are rechargeable and can be used multiple times, making them more cost-effective and eco-friendly than primary batteries. In terms of the fastest-growing segment, secondary batteries were also expected to be the fastest-growing segment of the flexible battery market during the forecast period. This is due to the increasing adoption of rechargeable batteries in various applications, such as smartphones, wearables, and electric vehicles. The demand for flexible and thin secondary batteries is also increasing, as they can be easily integrated into bendable and flexible electronic devices.
Primary batteries are expected to grow at a slower rate than secondary batteries, as they have a limited lifespan and cannot be recharged once they are depleted. These batteries are typically used in low-power applications such as remote controls, toys, and disposable medical devices. Primary batteries are preferred in applications where long-term reliability is required and where the battery can be replaced easily.
Global Flexible Batteries Market Size By Type 2022(%)
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Flexible Batteries Market Regional Insights
The Asia Pacific region is expected to hold the largest share of the global flexible battery market, as it is home to several key manufacturers of flexible batteries and electronic devices. Countries such as China, Japan, and South Korea are expected to be the major contributors to the growth of the flexible battery market in this region. China is the largest producer and consumer of electronic devices and it has a significant demand for flexible batteries. The increasing adoption of wearable devices, smartphones, and electric vehicles is driving the growth of the flexible battery market in China. Japan is a major market for flexible batteries due to the high adoption of wearable devices, medical devices, and IoT devices. Other countries in the Asia Pacific region, such as India, Taiwan, and Singapore, are also witnessing increasing demand for flexible batteries due to the growing adoption of wearable devices, IoT devices, and renewable energy systems.
North America is one of the prominent regions in the Global Flexible Battery Market. The region is witnessing significant growth in the demand for flexible batteries, owing to the increasing adoption of IoT devices and wearable electronics. North America holds a significant share of the global market owing to the growing demand for flexible batteries in various industries such as healthcare, automotive, and aerospace. The North American region is witnessing significant advancements in the technology and manufacturing processes of flexible batteries. The region is home to several leading manufacturers of flexible batteries, who are investing in R&D to develop innovative and sustainable products. The increasing adoption of wearable electronics, such as fitness trackers and smart watches, is driving the demand for thin-film batteries in the North American region. These batteries are lightweight and flexible, making them ideal for use in wearable devices.
Global Flexible Batteries Market Size By Geography, 2022-2030
- Largest
- Fastest
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Flexible Batteries Market Dynamics
Flexible Batteries Market Drivers
Increasing adoption of wearable devices and IoT devices
- The adoption of wearable devices and IoT devices is increasing rapidly across various industries, including healthcare, fitness, consumer electronics, and industrial applications. These devices require lightweight, flexible, and thin batteries that can be easily integrated into the devices without affecting their form factor or functionality. Flexible batteries offer a significant advantage over traditional rigid batteries in these applications, as they can be easily customized to fit the design of the device and can withstand bending and twisting. This increasing demand for wearable and IoT devices is expected to drive the growth of the global flexible battery market in the coming years.
Growing demand for electric vehicles
- The demand for electric vehicles is increasing rapidly due to the growing awareness of environmental concerns and the need for sustainable transportation solutions. Flexible batteries offer significant advantages over traditional rigid batteries in electric vehicles, as they can be easily integrated into the vehicle's design, reduce the weight and volume of the battery pack, and improve the vehicle's overall performance and range. The increasing demand for electric vehicles is expected to drive the growth of the global flexible battery market, as the development of advanced battery technologies, such as solid-state batteries and lithium-sulfur batteries, is required to meet the energy density and safety requirements of electric vehicles.
Flexible Batteries Market Restraints
High Initial Costs
- The initial costs of manufacturing flexible batteries are relatively high compared to traditional batteries. This is due to the high cost of materials and equipment required for the production of flexible batteries. As a result, the adoption of flexible batteries in various industries has been slow, especially in price-sensitive markets.
Limited Capacity
- Flexible batteries currently have limited capacity compared to traditional batteries. This is due to the physical limitations of the materials used in the production of flexible batteries. As a result, the use of flexible batteries is limited to low-power applications, such as wearable devices and medical sensors. This makes it difficult for flexible batteries to compete with traditional batteries in high-power applications, such as electric vehicles and consumer electronics.
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Flexible Batteries Market Competitive Landscape
The global flexible battery market is highly competitive, with the presence of several key players. The key market players are focusing on research and development to develop advanced battery technologies, such as solid-state batteries and lithium-sulfur batteries, to meet the growing demand for flexible and lightweight batteries in various applications. They are also focusing on partnerships, collaborations, and acquisitions to expand their market presence and enhance their product portfolio. The competitive landscape of the global flexible battery market is expected to remain highly competitive in the coming years, with the entry of new players and the development of advanced battery technologies.
Flexible Batteries Market Top Player’s Company Profiles
- LG Chem Ltd.
- Samsung SDI Co., Ltd.
- STMicroelectronics N.V.
- Panasonic Corporation
- Ultralife Corporation
- Blue Spark Technologies, Inc.
- Fullriver Battery New Technology Co., Ltd.
- Enfucell Oy Ltd.
- BrightVolt, Inc.
- Imprint Energy, Inc.
- Ilika plc
- ProLogium Technology Co., Ltd.
- Rocket Electric Co., Ltd.
- NEC Energy Solutions, Inc.
- NEC Corporation
- Cymbet Corporation
- Flexel LLC
- Paper Battery Company, Inc.
- Apple Inc.
- Toshiba Corporation
Flexible Batteries Market Recent Developments
- In May 2021, LG Chem announced the launch of a new flexible battery for use in wearable devices, called "Flexible and Curved Battery". The battery is 20% more flexible and has a capacity of 300mAh.
- In June 2021, Samsung SDI announced the development of a new flexible battery for use in foldable smartphones. The battery is designed to fold in half and has a capacity of 4000mAh.
- In August 2021, Panasonic Corporation announced the development of a new flexible battery for use in smart clothing. The battery is thin and lightweight, with a capacity of 40mAh.
- In September 2021, Enfucell announced the launch of a new flexible battery for use in smart packaging. The battery is printed on paper and has a capacity of 20mAh.
Flexible Batteries Key Market Trends
- Increasing demand for wearable devices: One of the major trends in the global flexible batteries market is the increasing demand for wearable devices. Wearable devices such as smart watches, fitness trackers, and augmented reality glasses require small, lightweight, and flexible batteries to power them. Flexible batteries are ideal for wearable devices as they can be made in different shapes and sizes to fit different form factors. The demand for wearable devices is expected to increase in the coming years, driven by the growing health and fitness awareness among consumers and the increasing adoption of smart homes and IoT devices. This is expected to drive the growth of the global flexible batteries market.
- Growing adoption of printed batteries: Another trend in the global flexible batteries market is the growing adoption of printed batteries. Printed batteries are made by printing the battery components onto a substrate using a printing process. This method allows for the production of thin, flexible, and lightweight batteries that can be integrated into various applications. Printed batteries are being used in a wide range of applications such as smart packaging, smart cards, and medical devices. The demand for printed batteries is expected to increase in the coming years, driven by the growing need for thin, flexible, and lightweight batteries that can be integrated into various products. The development of new printing techniques and materials is expected to further drive the growth of the printed battery market.
Flexible Batteries Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global flexible battery market analysis, global market has been experiencing significant growth over the past few years, driven by the increasing demand for wearable devices, smart cards, and flexible displays. Flexible batteries offer several advantages over conventional batteries, such as flexibility, thinness, lightweight, and high energy density, making them an ideal choice for portable and wearable electronics. The Asia Pacific region is expected to hold the largest share of the market during the forecast period, owing to the presence of major manufacturers and the increasing adoption of wearable devices in countries such as China, Japan, and South Korea. Based on type, Thin-film batteries are expected to hold the largest share of the market, owing to their high energy density and flexibility.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 102.6060492 million |
| Market size value in 2031 | USD 892.5323753 million |
| Growth Rate | 24.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Flexible Batteries Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Flexible Batteries Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Flexible Batteries Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Flexible Batteries Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Flexible Batteries Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Flexible Batteries Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Flexible Batteries Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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