Global Nuclear Microbatteries Market: Introduction
- Nuclear microbatteries are micro- or nano-scale batteries powered by using radioactive isotopes, which can store energy in large amounts in a compact space
- Radioactive particles with nuclear energy are converted into electric energy, which is employed to power processors. This conversion is based on the principle of the beta voltaic effect or electron voltaic effect.
Key Drivers and Restraints of Global Nuclear Microbatteries Market
- Demand for supply of small, reliable, and compact form of energy to consumer electronic devices as well as micro-electromechanical system (MEMS) devices has risen over the years. Nanotechnology and MEMS have gained rapid adoption over the last decade, with various types of microdevices being developed. Thus, the demand for nuclear microbatteries is increasing continuously. This is a major factor driving the global nuclear microbatteries market.
- Increasing demand for smart as well as power-efficient batteries from consumers and high adoption of Internet of Things (IoT) by various industry verticals are expected to be other driving factors for the global nuclear microbatteries market during the forecast period
- Furthermore, increase in the usage of batteries in the automotive industry is creating immense opportunities for the global nuclear micro batteries market
- High initial costs as well as high maintenance costs of nuclear microbatteries is a factor likely to hinder the global nuclear microbatteries market during the forecast period
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Military and Underwater Sea Probes & Sensors Segment to Witness Attractive Opportunities
- The global nuclear microbatteries market can be segmented based on conversion type, application, and region
- Based on conversion type, the global market can be divided into thermal conversion and non-thermal conversion. The thermal conversion segment is expected to dominate the global nuclear microbatteries market, expanding at the maximum CAGR during the forecast period. Thermal converters use thermal energy of radioisotope decay to generate electricity.
- In terms of application, the global market can be divided into space, medical & healthcare, automobiles, military and underwater sea probes & sensors, and others. The military and underwater sea probes & sensors segment is expected to expand at a rapid pace during the forecast period. Radar systems, advanced communication satellites, and high-technology weapons, such as nuclear weapons, require high and continuous power for their operations. Nuclear microbatteries are capable to deliver such high power. Thus, the demand for nuclear microbatteries is projected to increase during the forecast period.
North America Expected to hold a Major Share of Global Nuclear Microbatteries Market
- Based on region, the global nuclear microbatteries market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global nuclear microbatteries market in 2019 and this trend is projected to continue during the forecast period. Reduction in the greenhouse effect with the use of nuclear batteries and high energy production are expected to be the key driving factors for the global nuclear battery market during the forecast period.
- The nuclear microbatteries market in Asia Pacific is expected to expand at the maximum CAGR during the forecast period, due to rapid expansion of end-use industries in the region. China, Japan, India, and Australia are major contributors, in terms of revenue, to the nuclear microbatteries market in Asia Pacific.
- Europe is expected to contribute significantly to the global nuclear microbatteries market during the forecast period
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Key Players Operating in Global Nuclear Microbatteries Market
The global nuclear microbatteries market is highly concentrated, with the top companies accounting for approximately 45%–50% share of the global market. Key players operating in the global nuclear microbatteries market are:
- Exide Technologies
- Thermo PV
- GE Vattenfall
- TESLA Energy
- Comsoll, Inc.
- Brenntag Asia Pacific Pte Ltd
Global Nuclear Microbatteries Market: Research Scope
Global Nuclear Microbatteries Market, by Conversion Type
- Thermal Conversion
- Non-thermal Conversion
Global Nuclear Microbatteries Market, by Application
- Medical & Healthcare
- Military and Underwater Sea Probes & Sensors
Global Nuclear Microbatteries Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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