North America Micro Battery Market Forecast to 2030 - Regional Analysis - by Type (Thin Film Battery, Solid State Chip Battery, and Button Battery), Rechargeability (Primary Battery and Secondary Battery), and Application (Consumer Electronics, Smart Packing, Medical Devices, Wireless Sensor Nodes, and Others)
The North America micro battery market was valued at US$ 214.71 million in 2022 and is expected to reach US$ 891.33 million by 2030; it is estimated to record a CAGR of 19.5% from 2022-2030.
Increase in Demand for Wearable Devices Fuels North America Micro Battery Market
Wearable devices, such as smart glasses, virtual reality headsets, smartwatches, and fitness wristbands, are becoming increasingly popular among consumers. These devices serve various purposes, including activity tracking and health monitoring. The demand for wearable devices drives the need for thin and durable batteries. The application areas of wearable devices are expanding beyond consumer electronics to include medical devices and wireless communication devices. In the medical sector, there is significant growth potential for the micro battery market in wearable medical devices and wireless healthcare monitoring systems as the sector undergoes a technological transformation. The market for wearable technology is characterized by continuous product innovation, with frequent product launches and advancements. Therefore, the development of flexible and ultra-thin batteries, such as thin film and printed batteries, is crucial to meet the high flexibility and design requirements of wearable devices. The increasing adoption of smart meters by governments, such as the UK., India, and the US, is leading to a significant surge in demand for micro batteries. Notably, both smartwatches and earbuds experienced a substantial increase in consumer demand throughout the year, indicating a strong and growing interest in these products. These smart wearable devices require micro batteries to power their real-time clocks, ensuring uninterrupted operation even during power outages. Hence, the increasing demand for wearable devices are anticipated to propel the growth of the market over the forecast period.
North America Micro Battery Market Overview
The micro battery market in North America is experiencing robust growth. The rising trend of miniaturization in consumer electronics is a significant driver for the micro battery market. As consumers seek smaller and more portable electronic devices, there is a growing need for compact and efficient power sources. Micro batteries provide the necessary energy density and longevity for these devices, driving their adoption across the region. Furthermore, the proliferation of IoT and smart devices is another crucial factor propelling the micro battery market in North America. IoT devices, including wearables, sensors, and connected devices, rely on small and reliable power sources. The increasing adoption of IoT devices across various industries, such as healthcare, transportation, and smart home applications, creates immense opportunities for micro battery manufacturers. According to a report by Deloitte Digital Consumer Trends 2021, consumers across the globe now have almost 21% access to smartwatches. Moreover, the advancements in wireless sensor technology are driving the demand for micro batteries in North America. Wireless sensors are widely used in various sectors, including industrial monitoring, smart grid systems, and environmental sensing. The need for reliable and long-lasting power sources for these sensors fuels the growth of the micro battery market in North America.
North America Micro Battery Market Revenue and Forecast to 2030 (US$ Million)
North America Micro Battery Market Segmentation
The North America micro battery market is segmented based on type, rechargeability, application, and country. Based on type, the North America 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 North America 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 North America 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 share in 2022.
Based on country, the North America micro battery market is segmented into the US, Canada, and Mexico. The US dominated the North America micro battery market share in 2022.
Molex LLC, Murata Manufacturing Co Ltd, Varta AG, Duracell Inc, Renata SA, Maxell Holdings Ltd, Seiko Instruments Inc, Riot Energy Inc, and Panasonic Energy Co Ltd are some of the leading companies operating in the North America micro battery market.
TABLE OF CONTENTS
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Micro Battery Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain:
5. North America Micro Battery Market - Key Industry Dynamics
5.1 Drivers
5.1.1 Increase in Demand for Wearable Devices
5.1.2 Miniaturization of Consumer Electronics
5.1.3 Advantages of Micro Batteries
5.2 Restraints
5.2.1 Need for Large Investments
5.2.2 Limited Energy Storage Capacity
5.3 Opportunities
5.3.1 Advancements in IoT Devices
5.3.2 Expansion in Healthcare industry
5.4 Trends
5.4.1 Increasing Focus on Sustainability
5.5 Impact of Drivers and Restraints:
6. Micro Battery Market - North America Market Analysis
6.1 Micro Battery Market Overview
6.2 Micro Battery Market Revenue (US$ Million), 2022 - 2030
6.3 Micro Battery Market Forecast and Analysis
7. North America Micro Battery Market Analysis - Type
7.1 Button Battery
7.1.1 Overview
7.1.2 Button Battery Market Revenue and Forecasts to 2030 (US$ Million)
7.2 Thin Film Battery
7.2.1 Overview
7.2.2 Thin Film Battery Market Revenue and Forecasts to 2030 (US$ Million)
7.3 Solid State Chip Battery
7.3.1 Overview
7.3.2 Solid State Chip Battery Market Revenue and Forecasts to 2030 (US$ Million)
8. North America Micro Battery Market Analysis - Rechargeability
8.1 Primary Battery
8.1.1 Overview
8.1.2 Primary Battery Market Revenue and Forecasts to 2030 (US$ Million)
8.2 Secondary Battery
8.2.1 Overview
8.2.2 Secondary Battery Market Revenue and Forecasts to 2030 (US$ Million)
9. North America Micro Battery Market Analysis - Application
9.1 Consumer Electronics
9.1.1 Overview
9.1.2 Consumer Electronics Revenue and Forecasts to 2030 (US$ Million)
9.2 Medical Devices
9.2.1 Overview
9.2.2 Medical Devices Market Revenue and Forecasts to 2030 (US$ Million)
9.3 Smart Packing
9.3.1 Overview
9.3.2 Smart Packing Market Revenue and Forecasts to 2030 (US$ Million)
9.4 Wireless Sensor Nodes
9.4.1 Overview
9.4.2 Wireless Sensor Nodes Market Revenue and Forecasts to 2030 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others Market Revenue and Forecasts to 2030 (US$ Million)
10. North America Micro Battery Market - Country Analysis
10.1 North America
10.1.1 North America Micro Battery Market Overview
10.1.2 North America Micro Battery Market Revenue and Forecasts and Analysis - By Countries
10.1.2.1 US Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.1.1 US Micro Battery Market Breakdown by Type
10.1.2.1.2 US Micro Battery Market Breakdown by Rechargeability
10.1.2.1.3 US Micro Battery Market Breakdown by Application
10.1.2.2 Canada Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.2.1 Canada Micro Battery Market Breakdown by Type
10.1.2.2.2 Canada Micro Battery Market Breakdown by Rechargeability
10.1.2.2.3 Canada Micro Battery Market Breakdown by Application
10.1.2.3 Mexico Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.3.1 Mexico Micro Battery Market Breakdown by Type
10.1.2.3.2 Mexico Micro Battery Market Breakdown by Rechargeability
10.1.2.3.3 Mexico Micro Battery Market Breakdown by Application
11. Competitive Landscape
11.1 Heat Map Analysis By Key Players
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 Molex LLC
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Murata Manufacturing Co Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Varta AG
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Duracell Inc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 RENATA SA
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Maxell Holdings, Ltd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Seiko Instruments Inc
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Riot Energy Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Panasonic Energy Co Ltd
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 Word Index
List of Tables
Table 1. Micro Battery Market Segmentation
Table 2. Micro Battery Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Micro Battery Market Revenue and Forecasts to 2030 (US$ Million) - Type
Table 4. Micro Battery Market Revenue and Forecasts to 2030 (US$ Million) - Rechargeability
Table 5. Micro Battery Market Revenue and Forecasts to 2030 (US$ Million) - Application
Table 6. North America Micro Battery Market, by Country - Revenue and Forecast to 2030 (USD Million)
Table 7. US Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn) - By Type
Table 8. US Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn) - By Rechargeability
Table 9. US Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn) - By Application
Table 10. Canada Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn) - By Type
Table 11. Canada Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn) - By Rechargeability
Table 12. Canada Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn) - By Application
Table 13. Mexico Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn) - By Type
Table 14. Mexico Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn) - By Rechargeability
Table 15. Mexico Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn) - By Application
Table 16. Company Positioning & Concentration
Table 17. List of Abbreviation
List of Figures
Figure 1. Micro Battery Market Segmentation, By Country
Figure 2. Ecosystem: Micro Battery Market
Figure 3. Micro Battery Market - Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Micro Battery Market Revenue (US$ Million), 2022 & 2030
Figure 6. Micro Battery Market Share (%) - Type, 2022 and 2030
Figure 7. Button Battery Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Thin Film Battery Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Solid State Chip Battery Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Micro Battery Market Share (%) - Rechargeability, 2022 and 2030
Figure 11. Primary Battery Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Secondary Battery Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Micro Battery Market Share (%) - Application, 2022 and 2030
Figure 14. Consumer Electronics Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Medical Devices Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Smart Packing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Wireless Sensor Nodes Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. North America Micro Battery Market Revenue, By Key Country, (2022) (US$ Million)
Figure 20. Micro battery market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 21. US Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22. Canada Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23. Mexico Micro Battery Market Revenue and Forecasts to 2030 (US$ Mn)
1. Molex LLC
2. Murata Manufacturing Co Ltd
3. Varta AG
4. Duracell Inc
5. Renata SA
6. Maxell Holdings Ltd
7. Seiko Instruments Inc
8. Riot Energy Inc
9. Panasonic Energy Co Ltd
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America micro battery market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the North America micro battery market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America micro battery market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.