Flexible batteries are rechargeable batteries that can be folded, rolled, twisted or conformed to shapes without significant loss to the battery performance. Flexible batteries have various advantages like light weight, thin size, robust structure and compatibility for conformable electronic devices. The ability of flexible batteries to fit into complex geometries allows their use in applications where rigid cylindrical or prismatic batteries cannot fit.
The global Flexible Battery Market is estimated to be valued at US$ 187.18 million in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growth of the Flexible Battery Market is majorly driven by the increasing demand for flexible and wearable electronic devices. Flexible batteries are well suited for applications in wearable electronics like smartwatches, fitness trackers and others as they seamlessly integrate into the fabric or material without causing discomfort to the user. Their flexibility allows devices to contour to body movements and shapes. The ability of flexible batteries to be integrated into non-planar surfaced devices widens the applications of flexible batteries in emerging areas like curved screen smartphones, medical implants and others. Flexible batteries with their lightweight and thin profile enable new and innovative designs for next generation of wearable and electronic products.
Segment Analysis
The global flexible battery market is segmented based on material, chargeability, application and geography. Among material, the lithium-ion flexible batteries dominate the market currently due to their high energy density and reliability. However, lithium polymer batteries are expected to rise sharply over the forecast period due to their flexibility and light weight.
Key Takeaways
The Global Flexible Battery Market Demand is expected to witness high growth.
Regional analysis: Asia Pacific dominates currently in terms of volume and is expected to remain the fastest growing market during the forecast period. This is attributed to expansion of wearable electronic industries and presence of key manufacturing hubs in countries like China and South Korea.
Key players operating in the flexible battery market are Apple Inc., Panasonic Corporation, LG Chem, Samsung SDI Co, ST Microelectronics, Enfucell Oy, Ultralife Corporation, Blue Spark Technologies, Brightvolt Inc. and NEC Energy Solutions.
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