Flexible Thin Film and Printed Battery Market to Reach $1.9 Billion, Globally, by 2022 - Allied Market Research
PORTLAND, Oregon and PUNE, India, April 24, 2017 /PRNewswire/ --
Flexible Thin Film and Printed Battery Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $1.9 billion by 2022, registering a CAGR of 51.4% during the period 2016-2022. Non-rechargeable batteries dominate the market for flexible batteries in 2015. Asia-Pacific led the global market, accounting for a market share of over 43% in 2015.
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The rise in trend of wearable devices and Internet of Things (IoT) enables the market growth for flexible batteries. It not only helps explore new application arenas for the flexible batteries, but also drives the battery manufacturers to invest in such batteries. The market is expected to witness vast growth during the forecast period owing to the rise in demand for flexible batteries in portable devices and smart electronics. However, low energy density of ultra-thin flexible batteries proves to be a limitation against the proliferated use of such batteries across high energy-intensive applications.
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Currently, flexible batteries are majorly employed in applications wherein the power is utilized for single use and does not need to be recharged. Personal care, cosmetic patches, sports equipment, and pharmaceutical & medical devices are major beneficiaries for the non-rechargeable, flexible batteries market. The market for rechargeable flexible batteries is expected to grow with the development in technology, which can harness the capacity of the battery.
In terms of application, the consumer electronics holds the major share, in revenue generation in 2015, followed by pharmaceutical & medical devices. Flexible batteries for consumer electronics is one of the fastest growing segment among all applications, owing to the ongoing as well as expected developments in the implementation of flexible batteries into devices such as smartphones, laptops, and tablets. Decline in cost of both rechargeable and non-rechargeable batteries is estimated to drive the market growth in low-end applications, such as smart cards and RFID tags.
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Asia-Pacific is dominant over the market, and is expected to maintain this trend throughout the forecast period. Housing a huge number of manufacturing base in China, Japan, and South Korea, along with a vast consumer base in India and China, this region manages leads in revenue generation with respect to the other regions. North America and Europe follow Asia-Pacific and are expected to grow with the similar trend by the end of the forecast period.
Key Findings of Flexible Thin Film and Printed Battery Market Study:
- In the year 2015, non-rechargeable segment held the major share in revenue generation but the rechargeable flexible batteries are anticipated to witness faster growth ahead.
- Consumer electronics is expected to grow with the CAGR of 56.4% owing to the use of portable electronics and devices.
- China is the major shareholder, accounting for about 32% of the Asia-Pacific market in 2015.
- India is expected to witness rapid growth, in terms of CAGR, from 2016 to 2022.
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The key players in the flexible thin film and printed battery market focus on technological development and technology patenting. Partnership and agreement are the second most adopted strategies by these players. The major players profiled in this report include Blue Spark Technologies, Enfucell Oy, Imprint Energy, Panasonic Corporation, and Samsung.
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SOURCE Allied Market Research
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