North America Micro Battery Market Forecast to 2030 - Regional Analysis - by Type, Rechargeability and Application

The North America micro battery market was valued at US$ 214.71 million in 2022 and is expected to reach US$ 891.33 million by 2030; it is estimated to record a CAGR of 19.5% from 2022-2030.

Increase in Demand for Wearable Devices Fuels North America Micro Battery Market

Wearable devices, such as smart glasses, virtual reality headsets, smartwatches, and fitness wristbands, are becoming increasingly popular among consumers. These devices serve various purposes, including activity tracking and health monitoring. The demand for wearable devices drives the need for thin and durable batteries. The application areas of wearable devices are expanding beyond consumer electronics to include medical devices and wireless communication devices. In the medical sector, there is significant growth potential for the micro battery market in wearable medical devices and wireless healthcare monitoring systems as the sector undergoes a technological transformation.

The market for wearable technology is characterized by continuous product innovation, with frequent product launches and advancements. Therefore, the development of flexible and ultra-thin batteries, such as thin film and printed batteries, is crucial to meet the high flexibility and design requirements of wearable devices. The increasing adoption of smart meters by governments, such as the UK., India, and the US, is leading to a significant surge in demand for micro batteries.

Notably, both smartwatches and earbuds experienced a substantial increase in consumer demand throughout the year, indicating a strong and growing interest in these products. These smart wearable devices require micro batteries to power their real-time clocks, ensuring uninterrupted operation even during power outages. Hence, the increasing demand for wearable devices are anticipated to propel the growth of the market over the forecast period.

North America Micro Battery Market Overview

The micro battery market in North America is experiencing robust growth. The rising trend of miniaturization in consumer electronics is a significant driver for the micro battery market. As consumers seek smaller and more portable electronic devices, there is a growing need for compact and efficient power sources. Micro batteries provide the necessary energy density and longevity for these devices, driving their adoption across the region. Furthermore, the proliferation of IoT and smart devices is another crucial factor propelling the micro battery market in North America. IoT devices, including wearables, sensors, and connected devices, rely on small and reliable power sources.

The increasing adoption of IoT devices across various industries, such as healthcare, transportation, and smart home applications, creates immense opportunities for micro battery manufacturers. According to a report by Deloitte Digital Consumer Trends 2021, consumers across the globe now have almost 21% access to smartwatches. Moreover, the advancements in wireless sensor technology are driving the demand for micro batteries in North America. Wireless sensors are widely used in various sectors, including industrial monitoring, smart grid systems, and environmental sensing. The need for reliable and long-lasting power sources for these sensors fuels the growth of the micro battery market in North America.

North America Micro Battery Market Segmentation

The North America micro battery market is segmented based on type, rechargeability, application, and country. Based on type, the North America micro battery market is categorized into thin film battery, solid state chip battery, and button battery. The button battery segment held the largest market share in 2022.

• In terms of rechargeability, the North America micro battery market is bifurcated into primary battery and secondary battery. The primary battery segment held a larger market share in 2022.
• By application, the North America micro battery market is categorized into consumer electronics, smart packing, medical devices, wireless sensor nodes, and others. The consumer electronics segment held the largest market share in 2022.
• Based on country, the North America micro battery market is segmented into the US, Canada, and Mexico. The US dominated the North America micro battery market share in 2022.

Molex LLC, Murata Manufacturing Co Ltd, Varta AG, Duracell Inc, Renata SA, Maxell Holdings Ltd, Seiko Instruments Inc, Riot Energy Inc, and Panasonic Energy Co Ltd are some of the leading companies operating in the North America micro battery market.