Fibre Batteries Market to Witness Comprehensive Growth by 2031

Fibre batteries are millimeter-thin batteries based on fibre that can be woven into items of clothing or used to create highly flexible, wearable electronics. In recent years, many research teams worldwide have been trying to fabricate these batteries, using a range of different techniques and approaches. The fibre batteries market size was valued at $62.5 million in 2021, and fibre batteries industry is estimated to reach $422.1 million by 2031, growing at a CAGR of 21.1% from 2022 to 2031.

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Rapidly increasing urbanization and surge in the demand for portable electronic devices activities across the globe, especially in developing countries such as India, Indonesia, Brazil, and others, has led to an increase in the demand for fibre batteries market across the globe. In addition to this, the presence of portable electronic manufacturing giants such as Dell, Motorola, Materials Handling Group, and other government agencies in this region will drive the growth of the market. The above-mentioned factors will provide remunerative opportunities for the growth of the fibre batteries market during the forecast period.

The Asia-Pacific dominates the fibre batteries market due to the presence of developing countries such as India and China. The presence of a huge population and developing countries in this region are the main driving factors for the growth of the market. The recent investments of the Indian government towards a lithium-ion fibre battery manufacturing plant in Gujarat and the increasing demand for portable electronic gadgets in the country due to the presence of excess income are driving the growth of the fibre batteries market. The increase in awareness among the people regarding health care, and the usage and advantages of portable medical equipment during the pandemic outbreak have created a positive impact on the growth of the fibre batteries market opportunities. The above-mentioned factors are the key factors expected to provide ample opportunities for the growth of the fibre batteries market during the forecast period.

Fibre batteries are a new variety of batteries that are still under development and have low energy storage value compared to conventional energy storage devices, however, the presence of various advantages in comparison with conventional batteries has led to an increase in investment. However, high costs associated with research and development proficiencies will hamper the development of the market. The stringent regulatory framework in developing economies and lack of standardization will further dampen the development of the market. In addition, large-scale technological and infrastructural limitations will further hamper the development of the fibre batteries market growth.

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The global fibre batteries market forecast is segmented on the basis of type, rechargeability, capacity, end use, and region. By type, the market is divided into thin-film, printed, and others. By rechargeability, the market is divided into primary and secondary. By capacity, it is divided into below 10 MAh. 10 MAh-100 MAh, and above 100 MAh. By end use, it is divided into consumer electronics, smart packaging, smart cards, wireless sensors, and others. By region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

On the basis of type, thin film segment dominated the market in 2021. A thin film battery is a type of solid-state battery that uses both electrodes and electrolytes in solid form. These types of batteries offer various advantages over traditional batteries as they are smaller in size and can be used to create smaller electronic gadgets. In addition, these batteries also possess a more remarkable performance, higher energy density, higher flexibility, and a lower chance of electrolyte leakage.

On the basis of rechargeability, secondary segment dominated the market in 2021. Secondary batteries, also known as storage batteries or charge accumulators, can get charged and discharged. It is a cell or mixture of cells in which the cell reactions are reversible. The original chemical conditions inside the cell can be refurbished by passing a current through it, which is by charging from an external source.

On the basis of capacity, 10mAh-100mAh segment dominated the market in 2021. 10 mAh - 100 mAh capacity fibre batteries has a wide range of applications in wearable medical devices, and wireless sensors. This battery capacity has a wide range of applications in small-scale medical devices such as hearing aids, BP meters, and others. Wireless sensors have a wide range of applications in modern society after the utilization of 5G and the internet of things.

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On the basis of end-use, consumer electronics segment dominated the market in 2021. Consumer electronics are highly penetrated consumer products across the globe. Basically, consumer electronics refer to electronic products for non-commercial use. The increased adoption of wider varieties of consumer electronics in the household sector has significantly boosted the growth of the global consumer electronics market.

Region-wise, Asia-Pacific accounted for the largest fiber batteries market share and is projected to grow at a CAGR of 21.6% during the forecast period due to rising power tariff prices and dwindling energy supplies. Growing power plants and frequent natural disasters have created tremendous potential prospects for the Fibre batteries market trends in this region.

Key Findings of the Study

• As per fibre batteries market analysis, on the basis of type, the thin film segment emerged as the global leader by acquiring more than 53.6% of the fibre batteries market share in 2021 and is anticipated to continue this trend during the forecast period.
• On the basis of Rechargeability, the secondary segment emerged as the largest market share in 2021 which accounted 71% and is anticipated to continue this trend during the forecast period.
• On the basis of capacity, the 10mAh-100mAh segment accounted for nearly half the global market share in FY2021.
• On the basis of end-use, the consumer electronics segment accounted for one-third of the global market share in FY2021.
• On the basis of region, Asia-Pacific is the major consumer of fibre batteries among other regions.

Impact of COVID-19 on the global fibre batteries market

The COVID-19 pandemic led to a decline in the demand for the fibre batteries market due to a decline in the demand for power generation across the globe. In addition, the shutdown of manufacturing industries and the demand for power from various industries have a significant impact on the market.

Furthermore, the outbreak of the pandemic has created awareness among the people regarding the advantages of the utilization of fibre batteries as a power source for medical & consumer electronic devices in the LAMEA region which has driven the growth of the global fibre batteries market.

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Competitive Landscape

Key players in the fibre batteries industry are Saft Batteries, Bren-Tronics, Inventus Power, Navitas Advanced Solutions Group, Ultralife, Lionrock Batteries, Brightvolt Batteries, Hitachi, Planar Energy, and ProLogium. These players have adopted various strategies to gain a higher share or retain leading positions in the market.

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