Coin Cell Lithium Chip Market are predominantly referred to as small and light circular discs used as efficient power source for low powered devices. They are cost effective, safe, and have a long shelf life. The lithium components in these discs provide high voltage output and energy density and hence can be used as a replacement for multiple conventional batteries.
The global coin cell lithium chip market is anticipated to grow substantially over the forecast duration of 2022-2030.
Global coin cell lithium chip market– Growth drivers and restraints
Rising need for battery-operated material handling equipment in industries owing to automation and escalating demand for plug-in vehicles are primarily aiding industry expansion. Alongside, increasing adoption of lithium-ion batteries in renewable energy sector and growing penetration of smart devices are positively swaying the market dynamics.
Furthermore, rise in the production and adoption of electric vehicles driven by growing environmental concerns and sharp decline in the prices of lithium ion batteries are creating lucrative opportunities for the marketplace to prosper. As per General Motors Company, the cost of a coin cell is likely to drop to USD 100 per kWh by 2022.
Also, technological advancements in the field and surging investments by prominent industry players are augmenting industry outlook.
On the contrary, supply chain disruptions caused by COVID-19 pandemic induced restrictions have adversely affected the development of global this market.
Key Trends of Global Coin Cell Lithium Chip Market:
Demand for thin and flexible batteries in IoT applications
The Internet of Things (IoT) proffers network connectivity with the help of physical objects in which sensors and software are resort to deliver data and exchange it with other connected devices.
With the lowering requirement of power in semiconductors and IoT applications experiencing significant growth, many players are looking for flexible form factors to power distributed electronic devices.
Applications such as smart cards, wireless sensor nodes, sensors, smart labels, RFID tags, and packaging require thinness and flexibility to exchange data efficiently. IoT uses orthodox batteries to supply power to the network.
Integration of micro batteries in smart textiles
Smart textiles, also referred as electronic textiles, are printed fabrics that sense physiological parameters such as blood pressure, body temperature, heart rate and adjust the clothing temperature accordingly.
These textiles are vigorously gaining popularity in the fitness and sports industries. New-generation smart textiles can sense, adapt and respond themselves to different environmental conditions.
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Segmental and geographical assessment of the industry vertical
Based on type
- 14 mm
- 15 mm
- 16 mm
- Others
Based on applications
- Coin cell
- Medical industry
- Others
The medical segment is presently dominating the overall market due to the high requirement for continuous power supply in critical care units across healthcare facilities.
The report further analyzes the aforementioned segments and sub segments using reliable research methodologies to shed light on the accurate size and scope of the overall market.
North America, Europe, Asia Pacific, South America, and Middle East & Africa are the major regions constituting the geographical landscape of worldwide coin cell lithium chip market. Asia Pacific is expected to expand with a high CAGR over 2022-2030 ascribing to widespread adoption of lithium ion batteries across consumer electronics and automotive sectors. Also, increasing investments in energy storage systems to prevent power supply disruptions in the region is adding traction to the industry expansion.
Insights on the competitive hierarchy of global coin cell lithium chip market
The major players operating in the competitive gamut of this business vertical are MTI Corporation, Lith Corporation, China Energy Lithium Co., Ltd., Tmax, TOB New Energy Ltd., AOTELEC, Camelion Battery, and Contemporary Amperex Technology Co., Ltd.
Notably, GS Yuasa Corporation in December 2020 launched its new industrial lithium-ion battery module series named LIM30HL.
Apart from that, the other industry players are making strategic decisions involving collaboration deals, mergers & acquisitions, partnerships, new product launches, and research & development investments so as to strengthen their market presence and register notable gains.
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