At 17.6% CAGR, Middle East & Africa Micro Battery Market is Projected to be Worth US$ 177.94 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa micro battery market was valued at US$ 48.51 million in 2022 and is expected to reach US$ 177.94 million by 2030, registering a CAGR of 17.6% from 2022 to 2030. Increase in demand for wearable devices and advancements in IoT devices are among the critical factors attributed to the Middle East & Africa micro battery market expansion.

Wearable devices, such as smart glasses, virtual reality headsets, smartwatches, and fitness wristbands, are becoming increasingly popular among consumers. These devices serve various purposes, including activity tracking and health monitoring. The demand for wearable devices drives the need for thin and durable batteries. The application areas of wearable devices are expanding beyond consumer electronics to include medical devices and wireless communication devices. In the medical sector, there is significant growth potential for the micro battery market in wearable medical devices and wireless healthcare monitoring systems as the sector undergoes a technological transformation. The market for wearable technology is characterized by continuous product innovation, with frequent product launches and advancements. Therefore, the development of flexible and ultra-thin batteries, such as thin film and printed batteries, is crucial to meet the high flexibility and design requirements of wearable devices. Notably, both smartwatches and earbuds experienced a substantial increase in consumer demand throughout the year, indicating a strong and growing interest in these products. These smart wearable devices require micro batteries to power their real-time clocks, ensuring uninterrupted operation even during power outages. Hence, the increasing demand for wearable devices are anticipated to propel the growth of the market over the forecast period.

On the contrary, need for large investments hurdles the growth of Middle East & Africa micro battery market.

Based on type, the Middle East & Africa micro battery market is categorized into thin film battery, solid state chip battery, and button battery. The button battery segment held 55.5% share of Middle East & Africa micro battery market in 2022, amassing US$ 26.94 million. It is projected to garner US$ 93.77 million by 2030 to expand at 16.9% CAGR during 2022-2030.

In terms of rechargeability, the Middle East & Africa micro battery market is bifurcated into primary battery and secondary battery. The primary battery segment held 65.4% share of Middle East & Africa micro battery market in 2022, amassing US$ 31.72 million. It is projected to garner US$ 121.09 million by 2030 to expand at 18.2% CAGR during 2022-2030.

By application, the Middle East & Africa micro battery market is categorized into consumer electronics, smart packing, medical devices, wireless sensor nodes, and others. The consumer electronics segment held 35.5% share of Middle East & Africa micro battery market in 2022, amassing US$ 17.24 million. It is projected to garner US$ 65.13 million by 2030 to expand at 18.1% CAGR from 2022-2030.

By country, the Middle East & Africa micro battery market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states the UAE captured 41.9% share of Middle East & Africa micro battery market in 2022. It was assessed at US$ 20.31 million in 2022 and is likely to hit US$ 74.80 million by 2030, exhibiting a CAGR of 17.7% during 2022-2030.

Key players operating in the Middle East & Africa micro battery market are Molex LLC, Murata Manufacturing Co Ltd, Duracell Inc, and Maxell Holdings 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.
  
  

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