The vendor landscape of the immensely promising global flexible battery market houses a large number of companies that are spread across the globe. However, the market is largely dominated by a leading few conglomerates as obvious from the state of the market in 2016 - the leading four companies accounted for over 65% of the overall market, observes Transparency Market Research in a recent report. So as to explore growth opportunities better, companies in the market are focusing on new application areas, innovations, and geographical expansion across regional markets with flourishing end-use industries that use flexible batteries. Focus on the launch of innovative products that are in sync with new safety standards.
Some of the leading companies in the market are LG Chem Ltd., Blue Spark Technology, Brightvolt Inc., Ultralife Corporation, Panasonic Corporation, ST Microelectronics N.V., Enfucell Oy, NEC Energy Solutions Inc., and Samsung SDI Co. Ltd.
Transparency Market Research analysts suggest that the global flexible battery market will register an impressive CAGR of nearly 33% from 2017 to 2025, rising to a revenue opportunity of US$2,437.6 mn by 2025 from US$230.0 mn in 2016.
Get accurate market forecast and analysis on the Flexible Battery Market. Request a sample to stay abreast on the key trends impacting this market :
Rechargeable Batteries to Remain More Popular
On the basis of chargeability, the demand for chargeable flexible batteries has remained much higher than single-use batteries in the past years and the trend is expected to remain strong over the report’s forecast period as well. Based on product type, the report states that the demand for printed and thin film batteries has been much higher than other varieties such as advanced li-ion batteries, flexible zinc carbon batteries, and laminar lithium-polymer batteries. Geographically, the market for flexible batteries in North America accounted for nearly two-thirds of the total demand witnessed for a variety of flexible batteries across the globe in the past few years.
Increased Usage in Wearable and Healthcare Monitoring Devices to Fuel Demand
A number of factors are working in favor of the global flexible batteries market, including the vast rise in demand for thin batteries in advanced electronics devices, the increased uptake of wearable devices, and the rising demand for miniaturized electronics. It has been observed that the demand for wearable devices such as smart bands and smart watches has massively increased in the past few years - for health monitoring and recreational purposes. Analysts suggest that these trends could remain strong in the next few years as well and could act as a key driving force for the market. Furthermore, the market could benefit from the increased uptake of flexible batteries in a variety of technologically advanced devices in the healthcare sector and across a variety of smart devices in internet of things setups.
Cost-intensive Manufacturing Could Hinder Growth Prospects
Although the market has mostly positive growth opportunities, the high cost of manufacturing of a variety of flexible batteries could work against the growth prospects of the market in the next few years. With a large number of companies in the market already and companies focusing on luring consumers, price pressures could become more intense in the next few years. Moreover, the vast funds that are spent in research and development activities aimed at the development of the optimal material for efficient power supply could also hinder the growth prospects of the market to a certain extent.