Smart packaging application held the largest market size in the overall flexible battery market during the forecast period
Northrook, IL -- (SBWIRE) -- 02/13/2020 -- The overall flexible battery market is estimated to grow from USD 97 million in 2016 to USD 958 million by 2022, at a CAGR of 46.6% between 2016 and 2022. The growth of this market is propelled by the increasing miniaturization of electronics devices, need for thin and flexible batteries in consumer electronics, and the growing demand for wearable devices.
Browse 104 market data tables and 47 figures spread through 150 pages and in-depth TOC on "Flexible Battery Market - Global Forecast to 2022"
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Market for thin-film battery to account for the largest market share during the forecast period.
The report covers the flexible battery market segmented by type, chargeability, application, and geographic region. Based on type, the thin-film battery segment held the highest market share of the flexible battery market in 2015. Thin-film batteries are used widely in applications such as smart packaging, smart cards, wearable devices, and medical devices. The trend of miniaturization in the products used in these applications has increased the demand for thin-film lithium-ion batteries, driving the growth of thin-film battery market significantly. With the advent of technology in these applications, there is a growing demand for thin-film batteries during the forecast period. The advancement in these applications is increasing the demand for thin-film batteries and thus driving the growth further.
Rechargeable batteries witness the highest CAGR during the forecast period.
Based on chargeability, rechargeable battery segment of the flexible battery market is expected to grow at the highest rate during the forecast period. Applications such as consumer electronics, wearable device, medical devices, and wireless communication require rechargeable batteries with longer life span. Flexible batteries such as thin-film battery and curved battery are mostly rechargeable batteries which can be used in mobile devices and wearable devices. The need for rechargeable batteries which are easily recyclable, flexible and can complement the flexible design of the upcoming wireless communication devices is expected to drive the market during the forecast period.
North America to dominate the flexible battery market during the forecast period
North America held the largest share of the flexible battery market in 2015. Smart Packaging, wearable devices and smart cards are the major application segments in the North American flexible battery market. These applications requires thin and flexible power source to operate, where flexible battery is a suitable power source for these devices. Due to which, the demand for Flexible battery is increasing rapidly in North America region driving the growth of the market .Manufacturers such as Blue Spark Technologies, Inc. (US), Paper Battery Co. Inc. (US), BrightVolt Inc. (US), Flexel LLC (US), NEC Energy Solutions (US) and Ultralife Corporation (US), are based here in this region, which would lead the North American market for flexible battery.
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Key Market Players
Samsung SDI Co., Ltd. (South Korea), LG Chem Ltd. (South Korea), STMicroelectronics N.V. (Switzerland), Enfucell Oy Ltd. (Finland), and Blue Spark Technologies, Inc. (US), among others are some of the major players operating in this market.
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