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(IT-NEWSWIRE.COM, November 24, 2018 ) The flexible battery market is expected to witness significant growth; it was valued at USD 69.6 million in 2015 and is expected to reach USD 958.4 million by 2022, at a rate of 46.6% during the forecast period. The increasing development of miniaturized flexible and portable products with space constraints and the need for thin and flexible power sources to complement the design of flexible miniaturized electronic products are the key driving factors for the flexible battery market. The base year considered for the study is 2015 and the forecast period is considered between 2016 and 2022. The objective of the report is to provide a detailed analysis of the market on the basis of type, chargeability, application, and geography. The report provides detailed information regarding the major factors influencing the growth of this market. It also gives a detailed overview of the value chain in the market and analyzes the market trends with Porter’s five forces analysis.
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Thin-film battery type is expected to hold a large share of the overall flexible battery market in 2016. Thin-film batteries are used widely in applications such as smart packaging, smart cards, wearable devices, and medical devices. With the advent of technology in these applications, there is a growing demand for thin-film batteries during the forecast period. The advancement in these applications is increasing the demand for thin-film batteries and thus driving the growth further.
Rechargeable flexible battery held the largest share of this market in 2015. Applications such as consumer electronics, wearable device, medical devices, and wireless communication require rechargeable batteries with longer 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 device applications is expected to drive this market during the forecast period.
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The APAC region is expected to be the fastest-growing region in this market. In APAC, China currently holds the largest market share and it is also expected to grow at the highest CAGR during the forecast period. China is a developing economy and has a huge consumer electronics manufacturing capacity, which is one of the emerging applications for flexible battery. The advancement of technology in the smart packaging and consumer electronics sector as well as the growing popularity of wearable devices are driving the demand for flexible battery in the APAC region. Moreover, APAC is home to major consumer electronics and wearable devices manufacturers such as Samsung Electronics Co., Ltd. (South Korea), Panasonic Corp. (Japan), Sony Corp. (Japan), and LG Electronics Inc. (South Korea), which are integrating flexible batteries into miniaturized electronic devices.
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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.).
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