At 16.9% CAGR, South & Central America Micro Battery Market is Projected to be Worth US$ 121.07 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America micro battery market was valued at US$ 34.66 million in 2022 and is expected to reach US$ 121.07 million by 2030, registering a CAGR of 16.9% from 2022 to 2030. Increasing focus on sustainability and expansion in healthcare industry are among the critical factors attributed to the South & Central America micro battery market expansion.

The increasing focus on sustainability is anticipated to be a major trend in the micro battery market. Sustainability refers to the ability to meet the needs of the present without compromising the ability of future generations to meet their own needs. Sustainability encompasses environmental, social, and economic aspects of development and aims to create a more inclusive and resilient society. Moreover, there is growing awareness about the environmental impacts of conventional batteries, such as greenhouse gas emissions, resource depletion, waste generation, and pollution. It can also help minimize waste by being recyclable, biodegradable, or compostable. Additionally, regulatory and reporting standards for environmental, social, and governance (ESG) performance are increasing. ESG refers to the criteria that measure an organization's sustainability and social impact. ESG investors and rating agencies are holding firms accountable for their ESG performance and are rewarding those that demonstrate leadership and innovation in sustainability. Micro batteries can help firms improve their ESG performance by reducing their carbon footprint, enhancing their energy efficiency, and supporting their social responsibility initiatives.

On the contrary, need for large investments hurdles the growth of South & Central America micro battery market.

Based on type, the South & Central America micro battery market is categorized into thin film battery, solid state chip battery, and button battery. The button battery segment held 58.8% share of South & Central America micro battery market in 2022, amassing US$ 20.39 million. It is projected to garner US$ 67.61 million by 2030 to expand at 16.2% CAGR during 2022-2030.

In terms of rechargeability, the South & Central America micro battery market is bifurcated into primary battery and secondary battery. The primary battery segment held 63.4% share of South & Central America micro battery market in 2022, amassing US$ 21.99 million. It is projected to garner US$ 79.91 million by 2030 to expand at 17.5% CAGR during 2022-2030.

Based on application, the South & Central America micro battery market is categorized into consumer electronics, smart packing, medical devices, wireless sensor nodes, and others. The consumer electronics segment held 38.6% share of Europe micro battery market in 2022, amassing US$ 13.39 million. It is projected to garner US$ 47.51 million by 2030 to expand at 17.2% CAGR from 2022-2030.

By country, the South & Central America micro battery market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states Brazil captured 69.9% share of South & Central America micro battery market in 2022. It was assessed at US$ 24.23 million in 2022 and is likely to hit US$ 87.12 million by 2030, exhibiting a CAGR of 17.3% during 2022-2030.

Key players operating in the South & Central America micro battery market are Molex LLC, Murata Manufacturing Co Ltd, Maxell Holdings 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.

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