Global Flexible
Battery Market: Snapshot
The flexible
battery market is presently at a nascent stage and is anticipated
to rise rapidly with increasing research and development taking place
in the field of battery technology. Huge investments from companies
such as Panasonic Corp. and Samsung SDI Corp. Ltd. among others is
expected to have a positive impact in the field of battery
technology.
Flexible batteries are light weight and easy to use and are
increasingly used in products with limited internal space. As
flexible battery are thin and bendable, they can be used as power
sources on curved surfaces. Moreover, these batteries are
eco-friendly and have low impact on the environment.
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The growth of global flexible battery market is driven by factors
such as rising demand for IoT devices. Technological advancement in
portable devices is expected to fuel growth of the global flexible
battery market over the forecast period. Flexible batteries are used
in portable devices as they can be adjusted in any size for different
purposes.
The surging demand for wearable devices in the past few years is
positively impacting the growth of this market. With innovation in
wearable electronics, the demand for flexible power source with high
performance that can be integrated into various products is expected
to be on the rise. Moreover, the increasing demand for thin flexible
batteries across various application segments such as smart cards,
medical devices, and wearable devices due to its low self-discharge
rate is anticipated to have a positive bearing on this market over
the forecast period.
The global flexible battery market was valued at US$230.0 mn in 2016
and is expected to be worth US$2437.6 mn by 2025, rising at a CAGR of
32.9% between 2017 and 2025.
Smart Packaging
End-use Segment to Continue Dominance in Future
The global flexible battery market is segmented in terms of
chargeability into chargeable flexible battery and single use
flexible battery. Of the two, the segment of chargeable flexible
battery held the leading share in 2016 and is expected to retain its
dominance during the forecast period.
On the basis of product type, the market is segmented into thin film
and printed battery, flexible zinc carbon battery, laminar
lithium-polymer battery, and advanced lithium ion battery. Thin film
and printed battery, among these, held the leading market share in
2016 and is anticipated to maintain its dominance over the forecast
period.
In terms of end user, the market is segmented into consumer
electronics, smart packaging, healthcare, and transportation and
logistics among others. Smart packaging displayed the leading demand
for flexible batteries in 2016 accounting for 26.6% of revenue
contribution. The segment is expected to display rapid growth owing
to development of smart packaging industry across various parts of
the world. The segment of smart packaging is anticipated to display
the leading demand for flexible batteries among other end-use
segments.
Asia Pacific to
Emerge as Significant Market
On the basis of geography, the global flexible battery market is
segmented into North America, Asia Pacific, Europe, the Middle East
and Africa, and Latin America. In 2016, North America held the
leading share of 32.5% in the market and was followed by Europe and
Asia Pacific. The North America flexible battery market is
predominantly driven by the U.S. This is due to the presence of a
large number if flexible battery manufacturers combined with rising
investment in extensive research and development pursuits in the
field of battery technology.
Top companies operating in the global flexible battery market include
Panasonic Corporation, LG Chem Ltd., Ultralife Corporation, Blue
Spark Technology, NEC Energy Solutions Inc., ST Microelectronics
N.V., Enfucell Oy, Samsung SDI Co. Ltd., and Brightvolt Inc.
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