Flexible Battery Market To Reach USD 1452.77 Million By 2032, Driven By Rising Demand For Electric Vehicles And Advancements In Renewable Energy Storage | Report By SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) Flexible batteries are lightweight, versatile energy sources designed to meet the needs of innovative applications in consumer electronics, medical devices, and automotive sectors.

Pune, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Market Size and Analysis

The Flexible Battery Market was valued at USD 195.91 million in 2023 and is expected to reach USD 1452.77 million by 2032, growing at a remarkable CAGR of 24.95% over the forecast period from 2024 to 2032.

The rising demand for innovative, lightweight, and portable power options is propelling the growth of the flexible battery market as a critical sector within the larger energy storage field. Flexible batteries are bendable, rollable, or foldable without sacrificing their energy storage capability. They are suitable for incorporation in small and versatile electronic gadgets, wearable devices, and IoT applications, among many others. There has been a huge increase in IoT applications in the United States and it is predicted that there will be 14.4 billion connected devices in 2023, potentially rising to 30.9 billion in 2025. It is estimated that the IoT market will reach around USD 1.1 trillion by 2026, with the increased investment in smart home, healthcare, and industrial IoT. The growth of the flexible battery market is largely fueled by the ability of the batteries to overcome the limitations experienced by conventional, rigid batteries. In many settings, traditional batteries are used to facilitate different applications but limit the design of devices, a situation that enhances the rise of flexible batteries. The applications affected are mainly in the consumer electronics, healthcare, and automotive fields.

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Top Market Players Listed in this Research Report are:

• Samsung SDI (Samsung Flexible Lithium-ion Battery, Solid-State Flexible Battery)
• LG Chem (Flexible Lithium Polymer Battery, Pouch Cell Battery)
• Panasonic Corporation(Flexible Li-ion Battery, Thin Film Flexible Battery)
• STMicroelectronics (Energy Harvesting Flexible Battery, Rechargeable Thin Film Battery)
• Enfucell Oy (SoftBattery Single-Use, SoftBattery Rechargeable)
• Blue Spark Technologies (Stretchable Printed Battery, Ultra-Thin Printed Battery)
• ProLogium Technology (Flexible Solid-State Battery, PLB Flexible Battery)
• Ultralife Corporation (Lithium Manganese Dioxide Flexible Battery, Thin Cell® Flexible Battery)
• Jenax Inc. (J.Flex Rechargeable Battery, J.Flex Ultra-Thin Battery)
• BrightVolt (Zinc Polymer Flexible Battery, Ultra-thin Polymer Battery)
• Imprint Energy (ZincPoly® Battery, Printed Flexible Battery)
• Cymbet Corporation (EnerChipTM Thin Film Battery, EnerChipTM Rechargeable Solid-State Battery)
• VARTA Microbattery (VARTA CoinPower® Battery, VARTA Rechargeable Flexible Battery)
• Saft Groupe S.A . (Flex'ion Battery, Thin Flexible Battery)
• NEC Corporation (Flexible Organic Radical Battery, Bendable Thin Battery)
• Excellatron Solid State (Thin Film Flexible Battery, Solid-State Microbattery)
• Paper Battery Company (PowerPatchTM Battery, PowerEdgeTM Flexible Battery)
• Loxus Inc. (Loxus Flexible Supercapacitor, Loxus Rechargeable Flexible Battery)
• Rocket Electric (Lithium Polymer Flexible Battery, Thin Film Battery)
• Apple Inc . (Flexible Apple Watch Battery, Custom Flexible Battery for Wearables)

Flexible Battery Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 195.91 Million
Market Size by 2032	USD 1452.77 Million
CAGR	CAGR of 24.95% From 2024 to 2032
Key Segments	. By Type (Thin-film Batteries, Printed Batteries) . By Voltage (Below 5V, 5V to 20V, Above 20V) . By Rechargeability (Primary, Secondary) . By Application (Consumer Electronics, Smart Packaging, Smart Cards, Medical Devices, Wireless Sensors, Others)
Key Drivers	. Driving forces behind the growth of eco-friendly flexible batteries in a sustainable future. . The rise of flexible batteries in the expanding Internet of Things industry.

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“Segmented Market Breakdown: Key Drivers and Growth Potentials.”

By Type:

The thin-film batteries were leading the market in 2023 with a market share of 56%. The construction with a thin layer of electrodes and electrolytes results in a thin, flexible, and power-efficient battery. These batteries are generally small and can be used in small devices, such as wearable electronics, medical implants, and RFID tags.

By Voltage

The below 5V segment held more than 55% of the market in 2023 and was the leader. The growing demand for smaller, portable, and light electronic devices is expecting to support the growth of these small flexible batteries. These smaller batteries have lower voltage and are used in wearables, IoT sensors, and medical devices. The flexible shape of these devices improves seamless integration and avoids some of the constraints on rigid and boxed battery size.

By Rechargeability

The primary segment held a market share of 56% in 2023 and was the leader. The frequency of continuous replacement is expected to be a primary consideration in the use of primary flexible batteries. These batteries are also favored in low-power consumption applications. Primary flexible batteries are small, light, and portable, making them suitable for wearables, medical implants, and sensors.

"Regional Market Analysis: Understanding Performance and Prospects Across Key Regions"

In 2023, North America dominated the Flexible Battery Market with a 36% market share. The growth of the region is facilitated by the presence of leading companies, advanced technology, and high demand for new products. The considerable investment in flexible electronics, wearables, and medical devices pervades the region. Notably, big companies, including Apple, LG Chem, and Samsung SDI, are taking a significant portion of the market by incorporating bendable batteries in their smartwatches, medical implants, and foldable smartphones, among other products.

APAC is accounted to have a major growth rate of 25.6% during the forecast period 2024-2032, due to a thriving electronics sector and the quick acceptance of modern technologies. Investments in flexible batteries by China, South Korea, and Japan for consumer electronics, IoT devices, and energy renewables are promoting APAC's growth. Leading companies in the advancement of flexible batteries, including Panasonic, Samsung SDI, and Murata Manufacturing, are involved in smartphone, wearables, and energy storage flexible batteries, hence, enhancing APAC's growth.

Recent Development in the Market:

• August 2024: LG Chem introduced printed batteries, which are ideal for smart textiles, hence, their transportation is enhanced for use in the fashion and health sector.
• March 2024: Panasonic created a prototype of a flexible battery for electric vehicles aimed at enhancing energy density and the longevity of the batteries.
• July 2023: Samsung SDI manufactured a new line of flexible batteries for wearable devices with enhanced lightweight and energy efficiency.

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Key Takeaways from the report:

• Realization of robust growth of the Flexible Battery Market is noted; hence investors can invest in producing portable and lightweight sources of energy.
• The thin-film battery takes the higher share of the market, with applications found from consumer electronics to medical devices.
• APAC dominates the market as North America records the highest growth rate attributed to the increased demand for health and automotive appliances.
• Notably, prospects for the future of fellows as inventions are realized as major players' investment in flexible batteries technology has been discussed.

T able o f Contents - Key Points Analysis

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Flexible Battery Production Volumes, by Region (2023)

5.2 Flexible Battery Design Trends (Historic and Future)

5.3 Flexible Battery Capacity Utilization (2023)

5.4 Supply Chain Metrics

6. Competitive Landscape

7. Flexible Battery Market Segmentation, by Type

8. Flexible Battery Market Segmentation, by Voltage

9. Flexible Battery Market Segmentation, by Rechargeability

10. Flexible Battery Market Segmentation, by Application

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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