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Flexible Battery Market with COVID-19 Update by Type, Voltage, Capacity, Rechargeability, Application, Region - Global Forecast to 2025

Dublin, July 09, 2020 (GLOBE NEWSWIRE) -- The "Flexible Battery Market with COVID-19 Update by Type (Thin-film, Printed), Voltage, Capacity, Rechargeability (Primary Batteries, Secondary Batteries), Application (Medical Devices, Smart Packaging), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global flexible battery market is projected to grow at a CAGR of 24.7% from 2020 to 2025, reaching USD 296 million by 2025 from USD 98 million in 2020.
The applications of wearable electronics are increasing continuously, ranging from consumer electronics and healthcare devices to enterprise and industrial use. There is a growing demand for mobile healthcare devices and wireless healthcare monitoring devices globally. These devices require durable energy sources, thereby creating a significant market potential for thin and flexible lithium batteries. The market for wearable electronics is witnessing an increasing number of new product launches and developments. These devices require high flexibility and lightweight batteries to ensure uninterrupted power supply to them. Moreover, research activities are being carried out globally to invent innovative, flexible batteries for wearable electronics.The global production of consumer electronics has been declining owing to the COVID-19 outbreak. The prices of consumer electronics could rise in the coming months owing to the partial clampdown of consumer electronics manufacturing units in China. This, in turn, is expected to result in a cut short supply of components used in consumer electronics. Going forward, a number of manufacturers are expected to take into account the supply chain disruptions in China. The impact of supply chain disruptions on manufacturing facilities has been visible from April onwards as a number of other countries, including the US, India, Germany, and the UK, are also significantly impacted by COVID-19. This is expected to have a negative impact on the growth of the flexible battery market in 2020.The primary flexible batteries segment accounted for the largest share of the flexible battery market during the forecast period.

The single-use flexible batteries, such as printed batteries, are used in products without high power requirements and with a limited lifespan. These batteries are used in smart packaging, smart cards, and medical and cosmetic patches, as they have slower self-discharge time than rechargeable thin-film batteries. The sensors used in applications such as smart packaging and medical and cosmetic patches require disposable single-use power sources. Increasing adoption of these patches is expected to drive the growth of the flexible battery market during the forecast period.The above 3V segment of the market is projected to grow at the highest rate from 2020 to 2025.
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