Increasing Penetration of Wearable Devices and Smartphones to Foster the Growth of Flexible battery Market over the Forecast Period, Research Nester
The global flexible battery market is segmented into technology such as printed batteries, solid state batteries, micro batteries, thin-film lithium batteries, lithium polymer batteries, advanced lithium ion batteries, laminar fuel cells and thin flexible super-capacitors. Among these segments, thin-film lithium segment is expected to occupy the top position in the market. Rising utilization of thin film lithium batteries in wearable and medical devices is expected to foster the growth of the flexible battery market. Moreover, lower cost of thin film lithium batteries as compared to other alternative batteries is likely to spur the growth of the thin-film lithium batteries segment.
Global flexible battery market is expected to flourish at a robust CAGR over the forecast period. Moreover, the global flexible battery market is projected to garner USD 470 Million by the end of 2024. Research & development of innovative portable electronic products is expected to garner the growth of the flexible battery market.
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North America accounted for the largest market share in overall flexible battery market. Further, high adoption rate of advanced technologies is expected to drive the demand for flexible demand in the region. Asia Pacific is anticipated to showcase highest CAGR during the forecast period on the account of the presence of key consumer electronics manufacturers in the region. Moreover, China is witnessing the augmented demand for flexible batteries.
Rising Utilization of Flexible Battery in Consumer Electronics
Increasing use of flexible batteries in consumer electronic products such as smartphones, wearable devices and other products is driving the growth of flexible battery market. Moreover, rising sale of these products is expected to impel the growth of the Flexible Battery Market. Moreover, heavy spending on research & development of flexible electronic products is spurring the demand for flexible battery.
Rapid Technological Advancement in Flexible Battery
Technological advancement associated with the flexible battery such as extended battery life and reduction in size is believed to impel the growth of the flexible battery market. Apart from this, increasing demand for portable electronics and connected devices is likely to accelerate the demand for flexible battery during the forecast period.
Although, availability of low cost alternatives such as lithium ion, nickel and zinc batteries is likely to inhibit the growth of the flexible battery market in the near future. Moreover, high cost of advanced flexible batteries may hamper the growth of flexible battery market.
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The report titled “Flexible Battery Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global flexible battery market in terms of market segmentation by technology, by end use and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global flexible battery market which includes company profiling of Enersys Inc., Johnson Control Inc., GS Yuasa Corporation, Panasonic Corporation, Leoch International Technology Ltd., Exide Technologies, East Penn Manufacturing Company, CBS Battery Technologies and FIAMM SpA. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global flexible battery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: EIN Presswire