At 18.6% CAGR, Europe Micro Battery Market is Projected to be Worth US$ 722.45 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe micro battery market was valued at US$ 184.61 million in 2022 and is expected to reach US$ 722.45 million by 2030, registering a CAGR of 18.6% from 2022 to 2030. Advancements in IoT devices and increasing focus on sustainability are among the critical factors attributed to the Europe micro battery market expansion.

The Internet of Things (IoT) has revolutionized how we interact with technology, enabling seamless connectivity between devices and creating a vast ecosystem of smart devices. As IoT devices continue to increase across various industries and sectors, the need for reliable and efficient power sources becomes crucial. This presents a significant opportunity for the micro battery market to play a vital role in meeting the power demands of IoT devices. The IoT landscape has expanded exponentially, encompassing diverse applications such as smart homes, industrial automation, healthcare, transportation, and more. These IoT devices rely on miniaturized electronics that require compact and long-lasting power solutions. Micro batteries, with their small form factor and high energy density, perfectly align with the requirements of IoT devices, making them an ideal power source. Moreover, IoT devices often operate in remote or hard-to-reach locations, requiring reliable power sources to ensure uninterrupted functionality. Micro batteries are easily deployable in these challenging environments, providing a portable, self-contained power solution. This flexibility allows IoT devices to be deployed in various scenarios, from smart sensors in agricultural fields to wearables monitoring vital signs in healthcare settings. Additionally, the advancements in IoT devices, coupled with the evolution of micro battery technology, have led to enhanced user experiences. This translates to improved convenience, longevity, and reliability for end users, fostering further adoption and integration of IoT technology in various aspects of daily.

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

Based on type, the Europe micro battery market is categorized into thin film battery, solid state chip battery, and button battery. The button battery segment held 56.8% share of Europe micro battery market in 2022, amassing US$ 104.90 million. It is projected to garner US$ 389.53 million by 2030 to expand at 17.8% CAGR during 2022-2030.

In terms of rechargeability, the Europe micro battery market is bifurcated into primary battery and secondary battery. The primary battery segment held 64.6% share of Europe micro battery market in 2022, amassing US$ 119.26 million. It is projected to garner US$ 485.61 million by 2030 to expand at 19.2% CAGR during 2022-2030.

By application, the Europe micro battery market is categorized into consumer electronics, smart packing, medical devices, wireless sensor nodes, and others. The consumer electronics segment held 36.6% share of Europe micro battery market in 2022, amassing US$ 67.70 million. It is projected to garner US$ 268.70 million by 2030 to expand at 18.8% CAGR from 2022-2030.

By country, the Europe micro battery market has been categorized into France, Germany, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 28.3% share of Europe micro battery market in 2022. It was assessed at US$ 52.17 million in 2022 and is likely to hit US$ 226.39 million by 2030, exhibiting a CAGR of 20.1% during 2022-2030.

Key players operating in the Europe micro battery market are Molex LLC, Murata Manufacturing Co Ltd, Varta AG, Duracell Inc, Renata SA, Maxell Holdings Ltd, Seiko Instruments Inc, Enfucell Flexible Electronics Ltd, 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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