Richmond, Dec. 13, 2023 (GLOBE NEWSWIRE) -- According to a research report "Flexible Battery Market”, by Type (Thin-Film Flexible Battery, Printed Flexible Battery, Curved Flexible Battery, Others), Chargeability (Rechargeable Flexible Batteries, Single-Use Flexible Batteries), Voltage (Below 1.5V, Between 1.5V and 3V, Above 3V), Capacity (Below 10 mAh, Between 10 mAh and 100 mAh, Above 100 mAh), Application (Smart Cards, Smart Packaging, Healthcare Devices, Wearable Electronics, Others) and Region - Global Forecast to 2030.
Global Flexible Battery Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD USD 150 Million |
| Market size value in 2030 | USD 657.3 Million |
| CAGR (2023-2030) | 23.5% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Type, Chargeability, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Flexible Battery Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
Flexible batteries are a specialized type of energy storage technology designed to be lightweight, thin, and bendable, allowing them to conform to various shapes and sizes. The global nature of this market emphasizes its reach across continents, encompassing a vast array of industries and applications. From consumer electronics like wearable devices and smartphones to industrial applications, medical devices, and emerging technologies like the Internet of Things (IoT), the market caters to a broad spectrum of sectors. The Global Flexible Battery Market involves a complex supply chain that includes raw material sourcing, manufacturing processes, distribution networks, and the integration of flexible batteries into end products. Companies of varying sizes and specialties contribute to this market, from large-scale manufacturers to niche players offering specialized services. The market is dynamic, marked by continuous innovation and research endeavors aimed at enhancing the performance, efficiency, and adaptability of flexible batteries.
Major vendors in the global Flexible Battery Market:
- LG Chem
- Samsung SDI
- Panasonic Corporation
- Enfucell Oy
- Blue Spark Technologies
- BrightVolt Inc.
- STMicroelectronics
- Ultralife Corporation
- NEC Corporation
- Jenax Inc.
- Power Paper Ltd.
- Cymbet Corporation
- EnerDel Inc.
- Prologium Technology Co., Ltd.
- Fullriver Battery
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Advancements in IoT and connected devices
Advancements in the Internet of Things (IoT) and connected devices serve as a significant driver for the Global Flexible Battery Market. As IoT technology continues to permeate various industries, from smart homes and cities to industrial applications, there is a growing need for energy solutions that can adapt to the unique form factors and requirements of connected devices. Flexible batteries, with their ability to be thin, lightweight, and malleable, align perfectly with the demands of the expanding IoT landscape. The proliferation of IoT devices, which include sensors, wearables, and other connected gadgets, necessitates compact and efficient power sources. Flexible batteries address this demand by offering a versatile energy storage solution that can be seamlessly integrated into the design of IoT devices. Their flexibility allows for unconventional shapes and sizes, enabling manufacturers to create innovative and ergonomic IoT products.
Market Dynamics
Drivers:
- Advancements in IoT and connected devices
- Rapid adoption of healthcare wearable devices
Opportunities:
- Growing Automotive Industry
- Rapid Technological Advancements
Renewable Energy Applications
The burgeoning field of renewable energy applications presents a promising opportunity for the Global Flexible Battery Market to experience substantial growth. As the world increasingly shifts towards sustainable energy sources, the integration of flexible batteries with renewable energy technologies becomes imperative. Flexible batteries can play a pivotal role in storing and efficiently managing energy harvested from renewable sources such as solar and wind. Their lightweight and adaptable nature allows for seamless incorporation into various renewable energy systems, enabling greater flexibility in design and implementation. In solar energy applications, flexible batteries can be integrated into solar panels and other solar-powered devices, providing a compact and efficient energy storage solution. This facilitates the utilization of solar energy during periods of low sunlight or at night, enhancing the overall reliability of solar power systems. Similarly, in wind energy applications, flexible batteries can store excess energy generated during peak wind conditions, ensuring a consistent power supply even when wind speeds are suboptimal.
The market for Flexible Battery is dominated by Asia Pacific
The Asia Pacific region is poised to emerge as one of the fastest-growing and dominating players in the global flexible battery market. With a confluence of factors such as rapid technological adoption, burgeoning manufacturing capabilities, and a surging demand for innovative electronic devices, Asia Pacific presents a dynamic landscape for the proliferation of flexible battery technology. Countries within the region, including China, Japan, and South Korea, are at the forefront of technological advancements and are key contributors to the growth of the electronics and energy storage sectors. The region's dominance in electronics manufacturing, particularly in the production of smartphones, wearables, and other portable devices, fuels the demand for flexible batteries. Manufacturers in Asia Pacific are increasingly integrating these batteries into their products to enhance design flexibility and meet the evolving preferences of consumers. Furthermore, supportive government initiatives, coupled with a robust ecosystem of research and development, contribute to the region's position as a hotbed for innovation in the flexible battery market.
The flexible battery Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on Type the Flexible Battery market is segmented into Thin-Film Flexible Battery, Printed Flexible Battery, Curved Flexible Battery, Others. Thin-Film Flexible Battery is a dominating segment in this market. Thin-film batteries have established themselves as a key player in the industry, finding widespread applications in smart packaging, smart cards, wearables, and medical devices. Their superiority lies in offering enhanced performance, a higher average output voltage, and a reduced likelihood of electrolyte leakages compared to bulkier solid-state batteries. This characteristic makes them particularly suitable for diverse applications where miniaturization is crucial. The surge in demand for compact and efficient power solutions in smart packaging, wearables, and medical devices has fueled the widespread adoption of thin-film lithium-ion flexible batteries. Their thin and flexible nature aligns seamlessly with the design requirements of modern electronic devices, contributing to the segment's significant growth. Additionally, the escalating demand for smart cards in sectors like telecommunication, banking, and transportation for payment applications has further propelled the expansion of the thin-film batteries segment in the flexible battery market. The dominance of Thin-Film Flexible Batteries is a testament to their versatility and efficiency, positioning them as a driving force in the ever-evolving landscape of flexible energy storage solutions.
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