Micro Battery Market Set for Rapid Expansion in Asia-Pacific in Coming Years

The CR category recorded the highest growth in the market in the past years. This was because of the numerous applications of the micro batteries in devices such as medical devices, electronic toys, and calculators. These batteries have very low self-discharge rates and high energy densities. When rechargeability is taken into consideration, the market is classified into rechargeable and non-rechargeable batteries.

Between them, the non-rechargeable category recorded higher growth in the micro battery market in the past. This is credited to the lower costs of these batteries than the rechargeable ones. Moreover, the non-rechargeable batteries have several major application areas such as remote-control devices, electronic devices, and calculators.

In the coming years, the rechargeable battery category is predicted to demonstrate the fastest growth in the forthcoming years, because of the rising requirement for memory backup applications and the longer lifespan of the rechargeable batteries than the non-rechargeable ones.

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Geographically, the micro battery market will register the fastest growth in the Asia-Pacific (APAC) region in the future years, as per the estimates of P&S Intelligence, a market research company based in India. This will be because of the burgeoning requirement for medical devices and the rising usage of wearable devices in the region. For example, according to various reports, the utilization of wearable devices has grown from 10% in 2015 to nearly 21% in 2017.

Hence, it is safe to say that the market will exhibit huge expansion around the world in the forthcoming years, mainly because of the soaring usage of wearable devices and advanced medical devices in various healthcare applications.

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