Thin Film Battery Market Size

Thin Film Battery Market Size

Thin Film Battery Market size exceeded USD 303.1 million in 2023 and is projected to expand at more than 41.3% CAGR from 2024 to 2032, driven by the surging spending on consumer electronics.

Thin film batteries combine the benefits of solid-state batteries and thin-film manufacturing process to offer high power density, longer battery life, low self-discharge rate, and higher safety than their traditional Li-ion counterparts. These properties makes thin film batteries highly suitable for consumer electronics, which often need to boast of long battery life to attract customers. With rising disposable incomes, more consumers are spending on electronics for education, work, and other purposes, proliferating the demand for thin film batteries.

To get key market trends

  Download Free Sample

Meanwhile, the market is also expected to draw growth from public investments in the electronics sector. Many government agencies across the globe are rolling out favorable policies and investment schemes for their electronics sector, to use the industry as a crutch to recover from the COVID-19 economic slump. As per India’s Press Information Bureau, production of electronics in the country for 2021-2022 was valued at USD 80 billion.