Newark, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the fiber batteries market will grow from USD 81.22 Million in 2022 to USD 494.98 Million by 2032. Throughout the projection period, the growing market for fiber batteries would be propelled by the increasing growth of smart textiles and the smart packaging industry.
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Key Insight of the Fiber Batteries Market
Asia-Pacific region will account for the largest market size during the forecast period.
Asia-Pacific region will hold a significant market share due to the growth of the smart textiles and medical devices industry. Increasing investment in the medical devices industry has led to a high demand for fiber batteries, especially in the development of medical sensors and wearables. China, Japan and India hold the majority of the market share in the regional fiber batteries market. With rising per capita income, the demand for consumer electronics has also increased gradually.
The printed segment is expected to augment the market during the forecast period.
The type segment is divided into printed, thin-film, and others. The printed segment is expected to augment the market during the forecast period. The design of printed batteries has the potential to be greatly altered by additive manufacturing techniques because of their high sustainability. Batteries made using 3D printing could revolutionize energy storage.
The primary segment is expected to augment the market during the forecast period.
The rechargeability segment is divided into primary and secondary. The primary segment is expected to augment the market during the forecast period. Primary batteries are non-rechargeable, single-use batteries. There are many disposable medical devices, which include primary batteries. Primary fiber batteries in medical equipment are becoming increasingly common, supporting consumables like medical patches.
The medical devices segment is expected to augment the market during the forecast period.
The end-users segment is divided into medical devices, consumer electronics, smart packaging, wireless sensors and others. The medical devices segment is expected to augment the market during the forecast period. Fiber batteries don't significantly increase weight or bulk when used in wearable technology because they can tolerate repeated bending and stretching. They employ solid-state electrolytes and thin, flexible substrates like textiles or polymer sheets to achieve high energy density, quick charging, and extended cycle life.
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Market Dynamics
Driver: Increasing usage of smart textiles
Recent advances in basic and applied research into smart textiles have been fueled by the desire to enhance the value of conventional textile products and the quick growth of micro and nanotechnologies. Most smart features in the first e-textile prototypes were made possible by incorporating traditional, inflexible electronics into a textile matrix. The suggested fiber battery has several benefits, including low cost and commercial availability of all components, mass production capability, absence of toxic ingredients, and ease of electrochemistry. More significantly, because of its lightweight and flexibility, the fiber battery can be incorporated into other smart textiles or woven into wearable battery textiles, finding a niche market in various scientific and industrial applications.
Restraint: Lower performance as compared to conventional battery
The fiber batteries were used to power modern gadgets like cell phones and were woven into textiles. Comparing fiber batteries to other conventional batteries reveals that they also have certain drawbacks. Their low energy density and the scarcity of appropriate encapsulating materials persist. Also, because of the low loading of active materials, the capacity of fiber batteries is always less than that of other batteries.
Opportunity: Increasing investments in the medical wearable industry
Innovations in medical devices have been developed with a combination of governmental and private support. Naturally, the pursuit of profit has driven the business sector's support, at least in part. Recent technological developments have enhanced cutting-edge inventions like IoT and artificial intelligence. The efficiency of medical equipment in identifying vital signs and tracking health has improved since these technologies have been introduced and integrated. These developments hold out hope for early diagnosis, proactive health treatment, and avoiding illnesses and fatalities. Consequently, industry participants in the wearable medical device market will have plenty of chances throughout the projected period because of the expanding product innovations.
Challenges: Lack of awareness
Industries in many regions still need to be made aware of fiber batteries. The end-user industries need to be made aware of the usage of such batteries and invest in traditional batteries such as lithium-ion batteries. Thus, the market share of traditional batteries is still much greater than fiber batteries.
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Some of the major players operating in the fiber batteries market are:
• ProLogium
• Hitachi Ltd.
• Brightvolt Batteries
• Bren-Tronics, Inc.
• Planar Energy
• Lionrock Batteries
• Inventus Power
• Ultralife Corp.
• Saft Batteries
• Navitas Advanced Solutions Group
Key Segments Cover in the Market:
By Type:
• Printed
• Thin-Film
• Others
By Rechargeability:
• Primary
• Secondary
By End-users:
• Medical Devices
• Consumer Electronics
• Smart Packaging
• Wireless Sensors
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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