Global Betavoltaic Device Market is expected to foresee significant growth. North America to lead the growth!

Global Betavoltaic Device Market is expected to foresee significant growth. North America to lead the growth!

Global Betavoltaic Device Market is expected to reach the market valuation of around US$ 400 million by 2027 expanding at a reasonable CAGR of above 2% during the forecast period (2021-2027). Ever growing industrial sector paired with rising urban population would increase the overall demand for betavoltaic cell. This would increase the demand for betavoltaic device for producing clean energy.

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Stringent government regulations are predicted to propel the growth of the betavoltaic device market during the forecast period. In addition, majority of population is shifting towards alternate sources of energy that may further propel the overall demand for betavoltaic cell.

During the Covid-19 pandemic in the early 2020, majority of the countries and region witnessed a country wide lockdown. This has impacted the overall demand for betavoltaic cell. Majority of decline was witnessed in the industrial sector, where countries had imposed shut down of manufacturing facilities to reduce the spread of Covid-19. However, demand for betavoltaic cell is expected to come to normal post 2020.

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• Based on isotope type, the global betavoltaic device market is categorized into tritium, krypton, nickel, others. Among all, tritium category dominated the market in 2020 and is expected to maintain its market significance during the forecast period. Since tritium emits low energy electrons which can be stopped just by a piece of paper or a layer of skin, hence, making it safe and suitable choice for betavoltaic cells.
• Based on End User, the segment is categorized as aerospace, electronics & communication, healthcare, defense and others (oil & gas, marine). Among all, healthcare sector captures a significant market share of betavoltaic devices owing to rising cases of cardiovascular disease and use of betavoltaic cell in manufacturing cardiac pacemakers.

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For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. U.S. held the significant revenue share in global betavoltaic device market in 2020 owing to supporting government policies and U.S. holding prominent healthcare market share. Market players are mainly focusing on reducing the cost of production, improving the overall performance of their products, and increasing the operational time of betavoltaic devices to beat competition in the current market.

Global Betavoltaic Device Market Segmentation

Market Insight, by Isotope Type

• Tritium
• Krypton
• Nickel
• Others

Market Insight, by End User

• Aerospace
• Electronics & Communication
• Defence
• Healthcare
• Others

Market Insight, by Region

• North America Betavoltaic Device Market
  • United States
  • Canada
  • Rest of North America
• Europe Betavoltaic Device Market
  • Germany
  • United Kingdom
  • France
  • Spain
  • Rest of Europe
• Asia-Pacific Betavoltaic Device Market
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World Betavoltaic Device Market

Top Company Profiles

• City Labs, Inc.
• BetaBatt, Inc.
• Direct Kinetic Solutions
• Widetronix
• Qynergy Corp.