NEW YORK, Jan. 12, 2017 /PRNewswire/ -- "Global flexible battery market to exhibit significant growth potential between 2016 and 2022"
The flexible battery market is expected to grow at a CAGR of 46.6% between 2016 and 2022 to reach USD 958.4 million by 2022. The key driving factors for the growth of the flexible battery market are the growing need for wearable electronics, demand for thin and flexible batteries in electronic devices such as watches, mobiles, tablet PCs, and medical equipment, and increasing miniaturization in consumer electronic devices, However, the need for high initial investment and lack of standardization in the development of flexible batteries are the major restraining factors for the growth of this market.
"Rechargeable battery to dominate the flexible battery market during the forecast period"
Rechargeable battery leads the this market and is expected to witness the highest growth rate during the forecast period. Applications such as consumer electronics, wearable devices, medical devices, and wireless communication require a rechargeable battery with a long life span. Flexible batteries such as thin-film battery and curved battery are mostly rechargeable batteries which can be used in mobile devices and wearable devices. The increasing use of rechargeable batteries in consumer electronics and wearable devices is expected to drive the flexible battery market during the forecast period.
"Thin-film battery segment to hold the largest share during the forecast period"
Thin-film batteries are used widely in applications such as smart packaging, smart cards, wearable devices, and medical devices. Miniaturization in the products used in these applications has increased the demand for thin-film batteries, thereby driving the growth of thin-film flexible battery market significantly. Thin-film batteries have less self-discharge rates and cost less than lithium polymer batteries. Thus, they have a huge demand in electronics devices, thereby driving the growth of the market.
"APAC to be the fastest-growing market for flexible battery during the forecast period"
The market for flexible battery in the APAC region is expected to grow at the highest CAGR between 2016 and 2022. Major consumer electronics manufacturers in this region are modernizing their product designs to function using thin power sources for compatibility with the flexible designs of their products. As a result, the technological advancements in smart packaging and consumer electronics as well as the growing popularity of wearable devices in this region are fueling the growth of the this market in the APAC region.
The break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 – 25%, Tier 2 – 40%, and Tier 3 – 35%
- By Designation: C–Level Executives – 72% and Directors– 28%
- By Region: North America - 32%, Europe – 30%, APAC – 24%, and RoW – 14%
Major players involved in the development of flexible battery include Samsung SDI Co., Ltd. (South Korea), LG Chem Ltd. (South Korea), STMicroelectronics N.V. (Netherland), Enfucell Oy Ltd. (Finland), Blue Spark Technologies Ltd. (U.S.), Rocket Electric Co. ltd (South Korea), Fullriver Battery New Technology Co., Ltd. (China), Paper Battery Co. Inc. (U.S.), BrightVolt, Inc. (U.S.), Panasonic Corporation (Japan), Ultralife Corporation (U.S.), and NEC Energy Solutions (U.S.).
The research report on the global flexible battery market covers the market on the basis of type, chargeability, application, and geography. The market has been segmented on the basis of type into thin-film battery, printed battery, curved battery, and others. On the basis of chargeability, the flexible battery market has been classified into rechargeable and single use. Further, the flexible battery market has been segmented on the basis of application into smart packaging, smart cards, consumer electronics, medical devices, wearable devices, wireless communication, and others. The report covers four major geographical regions, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on type, chargeability, application, and geography have been conducted to give an overall view of the flexible battery market.
The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the flexible battery market.
The major drivers, restraints, opportunities, and challenges for the flexible battery market have been detailed in this report.
The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.
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