Micro Battery Market Growth Forecast & Overview

Micro Battery Market
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In 2018, the global micro battery market generated a revenue of $418.2 million and is predicted to
register a 18.4% CAGR during the forecast period (2019–2024). The market is witnessing growth due to
the rising requirement for compact batteries in wireless devices, increasing adoption of wearable devices,
and surging adoption of internet of things (IoT) in medical devices.
A small battery that is shaped like a button with a diameter of 5–25 mm and a height of 1–6 mm is
referred to as a micro battery. When type is taken into consideration, the micro battery market is divided
into LR (alkaline), SR (silver oxide), CR (lithium), and others (which include rechargeable lithium battery,
vanadium rechargeable lithium battery, and zinc air battery).
Out of these, the CR (lithium) division accounted for the major share of the market during the historical
period (2014–2018) and is further expected to dominate the market during the forecast period, in terms of
value. The reason for this is the wide applications of this battery in several devices including medical
devices, electronic toys, and calculators.
Micro batteries are of 1–6mm in height and have a diameter of 5–25 mm. They are shaped like a button
and are extensively used in consumer electronics, medical devices, wireless communication devices, and
wearable devices.
Micro batteries are available in various types, including silver oxide (SR), alkaline (LR), and lithium (CR),
vanadium rechargeable lithium series (VL), rechargeable lithium series (ML), and zinc air. All throughout
the 2014–2018 period, the battery manufacturers were benefitted the most from the sales of CR (lithium)
batteries.
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In the coming years, these batteries would continue holding the major revenue share. The micro battery
market is predicted to advance at an 18.4% CAGR in the forecast period (2019–2024)..
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