At 20.7% CAGR, Asia Pacific Micro Battery Market is Projected to be Worth US$ 1,316.02 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific micro battery market was valued at US$ 291.23 million in 2022 and is expected to reach US$ 1,316.02 million by 2030, registering a CAGR of 20.7% from 2022 to 2030. Miniaturization of consumer electronics and advancements in IoT devices are among the critical factors attributed to the Asia Pacific micro battery market expansion.

In today's fast-paced world, consumer electronics have become integral to everyone's lives. From smartphones to wearable devices, the demand for smaller and more powerful gadgets continues to rise. As consumer electronics continue to shrink in size, traditional battery technologies struggle to keep up with the demand for compact and long-lasting power sources. Micro batteries, also known as micropower sources, have emerged as a solution to this problem. These tiny energy storage devices offer high energy density in a small form factor, making them ideal for powering the ever-shrinking consumer electronics. In order to meet the demands of miniaturization, the micro battery market has witnessed significant technological advancements. Researchers are exploring new materials and designs to enhance energy storage capacity while reducing the size of these batteries. Nanotechnology, for instance, has played a crucial role in developing micro batteries with higher energy densities and improved cycle life. The applications of micro batteries extend beyond just smartphones and wearable devices. They are also utilized in medical implants, hearing aids, wireless earphones, and even miniature drones. These energy storage solutions are revolutionizing industries and enabling the development of innovative products that were once unimaginable.

On the contrary, need for large investments hurdles the growth of Asia Pacific micro battery market.

Based on type, the Asia Pacific micro battery market is categorized into thin film battery, solid state chip battery, and button battery. The button battery segment held 59.7% share of Asia Pacific micro battery market in 2022, amassing US$ 173.95 million. It is projected to garner US$ 746.49 million by 2030 to expand at 20.0% CAGR during 2022-2030.

In terms of rechargeability, the Asia Pacific micro battery market is bifurcated into primary battery and secondary battery. The primary battery segment held 66.5% share of Asia Pacific micro battery market in 2022, amassing US$ 193.80 million. It is projected to garner US$ 911.91 million by 2030 to expand at 21.4% CAGR during 2022-2030.

By application, the Asia Pacific micro battery market is categorized into consumer electronics, smart packing, medical devices, wireless sensor nodes, and others. The consumer electronics segment held 39.8% share of Asia Pacific micro battery market in 2022, amassing US$ 115.85 million. It is projected to garner US$ 532.36 million by 2030 to expand at 21.0% CAGR from 2022-2030.

By country, the Asia Pacific micro battery market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 29.7% share of Asia Pacific micro battery market in 2022. It was assessed at US$ 86.58 million in 2022 and is likely to hit US$ 420.33 million by 2030, exhibiting a CAGR of 21.8% during 2022-2030.

Key players operating in the Asia Pacific micro battery market are Molex LLC, Murata Manufacturing Co Ltd, Varta AG, Duracell Inc, Renata SA, Maxell Holdings Ltd, Seiko Instruments Inc, and Panasonic Energy Co Ltd, among others.

• In May 2022, Murata is transitioning to child-resistant packaging for all lithium coin cell batteries available in a 5-piece tear strip package, which includes the popular CR2016, CR2025, and CR2032 sizes. Each coin cell battery in the 5-piece tear strip pack can still be easily detached. Each coin cell battery is fully encapsulated in plastic, replacing the conventional, easy-to-open perforated packaging. Each capsule now requires a pair of scissors to open. Coin cells and packaging are also marked with the 'keep away from small children' symbol.
  
  
• In November 2022, With the fifth generation of its flagship lithium-ion rechargeable cell, VARTA provides a cutting-edge new product for future-driven innovations. At Electronica, VARTA will showcase its extensive micro battery portfolio and focus on sustainability in Munich from the 15th to the 18th of November.
  
  

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