Flexible Batteries To Create A $500 Million Market In 2030: IDTechEx
- Wearable technology is leading with a $66 billion sector in 2020
- Although zinc-carbon batteries are dominant in terms of the market size in 2020, by 2025 bulk solid-state batteries will lead by market size
pic credit : IDTechEx
As per a report by IDTechEx, battery technology is experiencing massive growth as organisations are racing to meet the demand of over 1,500 GWh needed in 2030 for electric vehicles, residential, and grid applications. It added that other than this, there are those that are focusing on an entirely different area of battery innovation, with significantly less competition and addressing different markets. Here they are changing the form factor from thick, rigid, bulky batteries that are used today to ultra-thin, flexible, rollable and even stretchable ones.
The market for such batteries will grow to $109 million in 2025 reaching $500 million in 2030 from $22 million in 2020 as per the IDTechEx report “Flexible, Printed and Thin Film Batteries 2020-2030: Technologies, Markets and Players”.
Wearable technology is leading with a $66 billion sector in 2020
The report said, “Over ten years of technology, development is finally translating into commercial success as the new form factors meet needs for thinner, flexible electronics – it is not about replacing the coin cell battery or battery pouch with a flexible version, but increasingly designing products around the newly shaped battery components.”
As per the report, wearable technology is leading with a $66 billion sector in 2020, where products need to conform to the shape and movement of the wearer and not the other way round. It includes wrist-worn wearables which account for 29 per cent of the market of flexible, printed, and thin-film batteries in 2025. It also includes healthcare products in for the form of electronic skin patches which will take up 23 per cent of the market in 2025.
Bulk solid-state batteries will lead by market size by 2025
The report said that the diversity of requirements means that no thin-film battery offers a one-size-fits-all solution. There are different technologies that have been developed that fall within the broad category of thin film, flexible or printed batteries. As per IDTechEx, although zinc-carbon batteries are dominant in terms of the market size in 2020, by 2025 bulk solid-state batteries will lead by market size. It will be followed by advanced lithium-ion batteries.
The IDTechEx report assessed and compared, based on interviews with the key global suppliers. They said that this included printed batteries, thin-film batteries, advanced lithium-ion batteries, solid-state batteries, micro-batteries, stretchable batteries, thin flexible supercapacitors, and others with 23 battery technologies. The IDTechEx report assesses and compares 23 relevant battery technologies, their suppliers, and 13 application segments, with ten-year forecasts.