Portable Battery Market 2023 Industry Scenario, Strategies, Growth Drivers and 2030 Forecast

 

The portable battery has witnessed substantial growth in recent years, driven by the increasing demand for smartphones, laptops, tablets, and other portable electronic devices. As consumers continue to embrace the convenience of being connected on-the-go, the need for reliable and efficient power sources has become paramount. The portable battery market was valued at USD 11,780.38 Million in 2022 and is projected to reach USD 24,357.87 Million by 2030, growing at a CAGR of 9.7% during the forecast period.

Market Definition:

Portable batteries are external power storage devices designed to recharge electronic gadgets when access to a traditional power outlet is limited or unavailable. These compact and lightweight devices have become an essential accessory for individuals who heavily rely on their electronic devices throughout the day. The convenience they offer has made them a sought-after product in the consumer electronics market.

Market Drivers:

The widespread adoption of portable electronic devices, such as smartphones, tablets, smartwatches, and wireless earbuds, has fueled the need for reliable and convenient power sources. As consumers rely heavily on these devices for communication, work, entertainment, and more, the demand for portable batteries has skyrocketed.

The rise of the mobile workforce and frequent travellers has increased the dependence on portable devices. Professionals on the go require a reliable power source to stay connected and productive during business trips or remote work. Power banks provide a practical solution for keeping devices charged during travel or while working away from traditional power outlets.

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Market Segmentation:

By Technology

·        Lead Acid

·        Nickel-Cadmium

·        Nickel-Metal Hydride

·        Lithium-ion Polymer

·        Others

By Battery Capacity

·        0-2500mAh

·        2500-5000mAh

·        5000-10,400mAh

·        Above 10

·        400mAh

By Application

·        Smartphones

·        Wearable Accessories

·        Automotive

·        Others

Key Players in the Portable Battery Market:

·        A123 Systems LLC

·        Samsung Electronics

·        Panasonic Corporation

·        Tesla Inc.

·        BYD Company Ltd.

·        Toshiba Corporation

·        Johnson Controls

·        Stellantis NV

·        Lenovo

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Regional Analysis:

North America holds a prominent position in the portable battery market due to high smartphone penetration, a tech-savvy population, and a mobile workforce. The region's strong focus on innovation and technology adoption fuels the demand for efficient power solutions.

Europe exhibits a robust portable battery market, driven by the region's environmentally conscious consumers and the popularity of outdoor activities and tourism. European countries' focus on sustainable and eco-friendly solutions also contributes to the market's growth.

The Asia Pacific region dominates the portable battery market, with countries like China, Japan, South Korea, and India being major contributors. The region's extensive smartphone user base, rapid urbanization, and expanding middle-class population are significant growth drivers.

Latin America's portable battery market is witnessing steady growth due to the region's growing population of smartphone users and the rise in outdoor activities and tourism.

About CBI

Consegic Business Intelligence Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports.

Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by Consegic Business Intelligence Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in foremost countries around the globe.

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