Flexible Batteries Industry Forecast: Key Players and Growth Analysis 2023-2028

Flexible Batteries Market Projected to Expand at 25.12% CAGR Through 2028

The Global Flexible Batteries market size is projected to grow at a CAGR of around 25.12% during the forecast period, i.e., 2023-28. The market is driven primarily by increasing demand for portable and wearable devices that require compact and lightweight power sources. Wearable devices including smartwatch, fitness tracker, and others with comfortable and unobtrusive designs have gained a significance among the consumers due to the rising public awareness about personal health and fitness. The consumers have been more conscious about their health issues like calorie intake, blood pressure, diabetes-level, physical activity, etc. Hence, for continuous monitoring of vitals, the adoption of wearable devices has been growing across the globe.

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Strategic Takeaways from the Report:

Market Sizing and Forecasting
Regulatory and Policy Influence
Competitive Trends and M&A Activity
Innovation Drivers and Disruptive Technologies
Investment Hotspots and Emerging Niches
Geographical Dynamics and Trade Flows

Flexible Batteries Market Segment Overview & Classification

This market is categorized to offer targeted insights across various operational and consumer-related verticals.

Segment List:

By Material Type

Lithium-ion- Market Size & Forecast 2018-2028, (USD Million)
Lithium Polymer - Market Size & Forecast 2018-2028, (USD Million)
Zinc - Market Size & Forecast 2018-2028, (USD Million)

Lithium-ion batteries are expected to hold a considerable market share in the coming years owing to its higher energy density, cost-efficient, and safety characteristics. The miniaturization and increasing interest of the consumers in flexible electronic devices like flexible displays, bendable smartphones, and foldable gadgets have been the prime factors for the surging demand for Li-ion batteries. Smartphone manufacturing companies such as Samsung, Vivo, Oppo, and others have launched various range of foldable & flexible smartphones which integrates thin film Li-ion batteries.

By Form

Curved
Thin & Ultra-Thin

By Capacity

Up to 10 mAH- Market Size & Forecast 2018-2028, (USD Million)
1 mAH to 100 mAH- Market Size & Forecast 2018-2028, (USD Million)
Above 100 mAH- Market Size & Forecast 2018-2028, (USD Million)

By Rechargeability

Primary Batteries- Market Size & Forecast 2018-2028, (USD Million)
Secondary Batteries- Market Size & Forecast 2018-2028, (USD Million)

By Application

Consumer Electronics- Market Size & Forecast 2018-2028, (USD Million)
- Smartphones- Market Size & Forecast 2018-2028, (USD Million)
- Wearable Devices- Market Size & Forecast 2018-2028, (USD Million)
Medical Devices
- Cosmetic and Medical Patches- Market Size & Forecast 2018-2028, (USD Million)
- Pacemakers- Market Size & Forecast 2018-2028, (USD Million)
- Hearing Aids- Market Size & Forecast 2018-2028, (USD Million)
Smart Packaging- Market Size & Forecast 2018-2028, (USD Million)
Wireless Sensors- Market Size & Forecast 2018-2028, (USD Million)
Others (Smart cards, IoT Devices, etc.)- Market Size & Forecast 2018-2028, (USD Million)

The market share of medical devices category is expected to grow at a steady rate during the forecast period due to the rising research & development for the advancement and expansion of the medical industry. Flexible batteries have been essential for powering various implantable medical devices, including pacemakers, neurostimulators, drug delivery systems, etc. The flexibility of these batteries allows them to conform to the shape of the body, making them more comfortable and safer for patients. In addition, the rising support and investment by the government of the global countries to enhance the medical infrastructure and boost medical tourism would further necessitate the demand for flexible batteries for manufacturing medical devices.

By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific.

The Flexible Batteries Market in North America is poised for significant growth, due to presence of various medical device manufacturing companies like Medtronic, Abbott Laboratories, Boston Scientific, etc. These companies have been utilizing the flexible batteries for manufacturing medical devices such as pacemakers, implantable cardioverter-defibrillators (ICDs), etc. The demand for flexible battery is also estimated to grow due to the rising geriatric population in the region which are more vulnerable to diseases such as arrhythmias, heart failure, coronary artery disease, and others which requires implantation of medical devices. According to the Canadian Institute for Health Information, there have been 6.2 million geriatric people in Canada and is estimated to reach 10.4 million in 2037.

These divisions help clarify demand patterns and expected shifts.

Market Driver

Growing Demand for Wearable Technology in Healthcare for Fitness Monitoring- Wearable technology has gained significant popularity in recent years due to advancements in miniaturization, sensor technology, wireless connectivity, and computing power. It allows users to monitor their physical activity, sleep patterns, heart rate, and other health parameters. Wearable devices also enable hands-free communication, immersive gaming experiences, augmented reality applications, and assistive technologies. As the demand for wearable health devices continues to rise, there is a need for flexible batteries that can power these compact and lightweight devices efficiently. Growing health concerns among individuals, and the continuous needs for health monitoring created the demand for wearable technologies in the global market.

Thus, to cater to the growing demand for wearable technologies companies such as Fastrack, OnePlus, and Realme introduced smart watches for continuous monitoring which required flexible batteries for their operations. For instance, in 2023, Fastrack launched Reflex Beat+ which includes Health suite features such as a heart rate monitor, women’s health monitor, and sleep tracker. As wearable health devices become more prevalent and sophisticated, the demand for flexible batteries will continue to grow during the forecast period for providing a reliable and optimized power source for these devices.

Flexible Batteries Market Competitive Snapshot from 2023-2028

The report highlights established and emerging players in the global Flexible Batteries Market, evaluating their strengths, challenges, and potential for innovation.

Key Competitors Include:

Samsung
LG
Enfucell OY Ltd.
Blue Spark Technologies
Apple Inc.
Panasonic Corp.
Ultralife Corp.
Brightvolt
Imprint Energy
Energy Diagnostics
Prologium Technology Co. Ltd.
Molex
Polyplus Battery Company
Iten SA
Jenax

Their activities include partnerships, product launches, and geographic expansions.

Flexible Batteries Industry Prime Challenge

High Energy Density of the Solid State Batteries to Restrict the Market Growth of Flexible Batteries– Solid-state batteries gain an advantage over flexible batteries as they use solid materials as the electrolyte which eliminates the flammable liquid electrolytes found in conventional batteries, including flexible ones which reduces the risk of fire. The higher energy density of the solid state batteries offers more energy storage than flexible ones which provides faster charging, longer lifespan, slower degradation and more resistance to physical stress.

As consumers and manufacturing companies look for safer and more efficient energy storage solutions, the demand for solid-state batteries is estimated to restrict the growth of the Global Flexible Batteries Market. Global battery manufacturing companies such as QuantumScape, Cymbet Corporation, BrightVolt, Prieto battery, and others have continued to invest in the research and development of solid-state batteries to make them more viable and commercially available. All these efforts could negatively impact the Global Flexible Batteries Market in the coming years.

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