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; it is estimated to record a CAGR of 17.6% from 2022 to 2030.
Increasing Focus on Sustainability Bolsters Middle East & Africa Micro Battery Market
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.
Middle East & Africa Micro Battery Market Overview
Micro batteries, also known as button batteries or coin batteries, are small, compact energy storage devices commonly used in portable electronic devices such as watches, calculators, and hearing aids. One of the primary drivers of the micro battery market in the Middle East & Africa is the rapid expansion of the consumer electronics industry. With increasing disposable income and a rising middle class, there has been a surge in demand for smartphones, wearable devices, and other electronic gadgets in the region. These devices require reliable and long-lasting power sources, making micro batteries an essential component in their design and functionality.
Furthermore, the healthcare sector in the Middle East & Africa is witnessing significant advancements, leading to an increased adoption of medical devices and equipment. Micro batteries play a crucial role in powering implantable medical devices, such as pacemakers and hearing aids, as well as in portable diagnostic devices. The growing emphasis on healthcare infrastructure development and improving access to quality healthcare services has fueled the demand for micro batteries in the region.
Middle East & Africa Micro Battery Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Micro Battery Market Segmentation
The Middle East & Africa micro battery market is segmented based on type, rechargeability, application, and country. 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 the largest market share in 2022.
In terms of rechargeability, the Middle East & Africa micro battery market is bifurcated into primary battery and secondary battery. The primary battery segment held a larger market share in 2022.
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 the largest market in 2022.
By country, the Middle East & Africa micro battery market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa micro battery market share in 2022.
Molex LLC, Murata Manufacturing Co Ltd, Duracell Inc, and Maxell Holdings Ltd are some of the leading companies operating in the Middle East & Africa micro battery market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 48.51 Million |
| Market Size by 2030 | US$ 177.94 Million |
| CAGR (2022 - 2030) | 17.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
1. Molex LLC
2. Murata Manufacturing Co Ltd
3. Duracell Inc
4. Maxell Holdings Ltd
The Middle East & Africa Micro Battery Market is valued at US$ 48.51 Million in 2022, it is projected to reach US$ 177.94 Million by 2030.
As per our report Middle East & Africa Micro Battery Market, the market size is valued at US$ 48.51 Million in 2022, projecting it to reach US$ 177.94 Million by 2030. This translates to a CAGR of approximately 17.6% during the forecast period.
The Middle East & Africa Micro Battery Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Micro Battery Market report:
The Middle East & Africa Micro Battery Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Micro Battery Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Micro Battery Market value chain can benefit from the information contained in a comprehensive market report.
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