- Rechargeable
- Non- Rechargeable
Pin-Type Batteries Market size is expected to reach USD 769.8 million by 2028 and growing at a CAGR of 5.1% during the forecast period 2022-2028. It has been estimated with a significant growth with the help of key drivers which include in powering various wearables such as smartwatches, hearing aids, smart glasses, fishing floats, and others. There are restrains which may hamper the growth of global pin-type batteries market, disposal of these batteries contaminates the soil and groundwater, electrolytes used in these batteries are considered to be toxic and inflammable causing harm to the environment. Delivery of information about their surroundings, tracking information related to health and fitness to the consumers open up opportunity for global market. Key Developments:Â In March 2020, Panasonic Industrial Devices Sales Co. of America recently announced a new addition to its line of lithium-ion pin cells CG420A lithium-ion pin batteries for the wearables market
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Largest Market
Fastest Growing Market
It is noticed that the global pin-type batteries market has significant growth rate on the perspective on increasing technology advancement. The number of connected wearable devices worldwide has more than doubled in the space of three years, increasing from 325.6 million in 2016 to 722 million in 2019. The number of devices is forecast to reach more than one billion by 2022. Most of the big companies working on powerful sensor technologies. These technologies enable the collection and delivery of information about their surroundings as well as tracking information related to health and fitness to the consumers which help in the significant growth of global pin-type battery market.
Asia Pacific contributed major revenue followed by Europe and Asia Pacific. In 2019, Asia Pacific region accounted huge growth rate and is anticipated to grow with a forecast year. For instance, According to International Data Corporation (IDC), over 307 million wearable devices have been sold to date – and sales are projected to continue climbing for the foreseeable future. Asia Pacific led with the key market player. North America and Europe with technology advancement increasing in population using wearable devices which subsequently boost the global market.
Latin America
Europe
Asia Pacific
Middle East
North America
The Pin-Type Batteries Market is projected to expand at a CAGR of 5.1% during the forecast period.
EEMB, PANASONIC, CREASEFIELD LTD, JNJ KOREA, HIOKI E.E. CORPORATION
North America is the fastest-growing region for the Pin-Type Batteries Market
Key player’s profiles in the global pin-type battery market include: