Portland, OR, Feb. 27, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fibre batteries market garnered $62.5 million in 2021, and is estimated to generate $422.1 million by 2031, manifesting a CAGR of 21.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining a competitive edge in the market.
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Report coverage & details:
| Report coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $62.5 million |
| Market Size in 2031 | $422.1 million |
| CAGR | 21.1% |
| No. of Pages in Report | 281 |
| Segments covered | Type, Rechargeability, Capacity, End use, and Region |
| Drivers | Rise in population and surge in the utilization of electronic gadgets in daily life. |
| Use of emerging advanced tools and technologies like AI and 5G | |
| Opportunities | Growing demand for smart electronic gadgets |
| Increase in the investment by the government Favorable policies to develop smart cities & smart electronic wearables | |
| Restraints | High cost associated with research and development proficiencies |
| The stringent regulatory framework in developing economies and lack of standardization | |
| Large-scale technological and infrastructural limitations |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global fibre batteries market, owing to decline in the demand for power generation and the shutdown of manufacturing industries across the globe.
- Furthermore, the outbreak of the pandemic has created awareness among the people regarding the advantages of the utilization of fibre batteries as a power source for medical & consumer electronic devices which has driven the growth of the global fibre batteries market.
The research provides detailed segmentation of the global fibre batteries market based on type, rechargeability, capacity, end use, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on type, the thin film segment held the highest share in 2021, accounting for more than half of the global fibre batteries market and is expected to continue its leadership status during the forecast period. However, the others segment is expected to register the highest CAGR of 21.6% from 2022 to 2031.
Based on rechargeability, the secondary segment accounted for the highest share in 2021, contributing to more than two-thirds of the global fibre batteries market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the primary segment is expected to manifest the highest CAGR of 21.6% from 2022 to 2031.
Based on capacity, the 10 mAh -100 mAh segment accounted for the highest share in 2021, holding around half of the global fibre batteries market, and is expected to continue its leadership status during the forecast period. However, the above 100 mAh segment is estimated to grow at the highest CAGR of 21.9% during the forecast period.
Based on end use, the consumer electronics segment accounted for the highest share in 2021, holding nearly one-third of the global fibre batteries market, and is expected to continue its leadership status during the forecast period. However, the others segment is expected to manifest the highest CAGR of 22.7% from 2022 to 2031. The research also analyzes end users including smart packaging, smart cards, medical devices, wireless sensors, and others.
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Based on region, Asia-Pacific held the largest share in 2021, contributing to more than two-fifths of the global fibre batteries market share, and is projected to maintain its dominant share in terms of revenue in 2031. The same region is expected to manifest the fastest CAGR of 21.6% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading market players of the global fibre batteries market analyzed in the research include inventus power, Ultralife Corp., Hitachi Ltd., Brightvolt Batteries, Bren-Tronics, Inc., Lionrock Batteries, Saft Batteries, Planar Energy, Navitas Advanced Solutions Group, ProLogium.
The report provides a detailed analysis of these key players of the global fibre batteries market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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