“Thin-film battery segment to hold the largest share and grow at the highest rate by 2022”.

Northbrook, IL -- (SBWire) -- 11/27/2018 --The flexible battery market is expected to witness significant growth; it was valued at USD 69.6 million in 2015 and is expected to reach USD 958.4 million by 2022, at a rate of 46.6% during the forecast period.

The increasing development of miniaturized flexible and portable products with space constraints and the need for thin and flexible power sources to complement the design of flexible miniaturized electronic products are the key driving factors for the flexible battery market. The base year considered for the study is 2015 and the forecast period is considered between 2016 and 2022.

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The objective of the report is to provide a detailed analysis of the market on the basis of type, chargeability, application, and geography. The report provides detailed information regarding the major factors influencing the growth of this market. It also gives a detailed overview of the value chain in the market and analyzes the market trends with Porter's five forces analysis.

Increasing demand for thin and flexible batteries in electronic devices to drive the global flexible battery market

The demand for flexible batteries is fueled by the increased demand for miniaturized electronics devices such as watches, mobiles, tablet PCs, medical equipment, and so on. Batteries are required to be flexible to eliminate the limitation of rigidity and inflexibility of the device. Moreover, this also enables the designer to modify the structure of the device and enhance its efficiency during product manufacturing.

Thus, the need for batteries with these unique parameters is expected to increase rapidly over the next few years as manufacturers have started using them not only to offer differentiate from current products but also to introduce new product categories. Flexible batteries help to provide lightweight devices and have the ability to store energy in small packages. These benefits allow flexible batteries to cater to consumer electronics, cosmetic, industrial, medical, and defense applications.

The APAC region is expected to be the fastest-growing region in this market. In APAC, China currently holds the largest market share and it is also expected to grow at the highest CAGR during the forecast period. China is a developing economy and has a huge consumer electronics manufacturing capacity, which is one of the emerging applications for flexible battery. The advancement of technology in the smart packaging and consumer electronics sector as well as the growing popularity of wearable devices are driving the demand for flexible battery in the APAC region. Moreover, APAC is home to major consumer electronics and wearable devices manufacturers such as Samsung Electronics Co., Ltd. (South Korea), Panasonic Corp. (Japan), Sony Corp. (Japan), and LG Electronics Inc. (South Korea), which are integrating flexible batteries into miniaturized electronic devices.

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One of the key restraining factors for this market is the development of flexible batteries which requires high initial investment, especially in the area of research and development and its manufacturing setup. Key market players such as Samsung SDI Co., Ltd. (South Korea), and STMicroelectronics N.V. (Switzerland) are focusing on new product launches and developments, acquisitions, and collaborations strategies to enhance their product offerings and expand their business.

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