Global Portable Battery Market Report 2022: Rising Adoption of Mobile Devices Driving Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The Report “Portable Battery Market – Forecast 2022 to 2027” has been added to from ResearchAndMarkets.com offer.

The portable battery market is expected to grow at a CAGR of 12.35% over the forecast period to reach US$17.684 billion by 2027, from US$7.825 billion in 2020. A portable battery is an electrical component rechargeable that can power a device, thanks to a built-in battery that can be recharged when needed.

A portable battery can hold energy, charge and discharge as needed. It is most commonly used in the end-user industry, to charge devices such as cell phones, tablets, cameras, laptops, etc. Portable batteries are also known to be used in the automotive industry, for the development of electric vehicles.

Market trends:

The global portable battery market is expected to grow significantly, primarily driven by the growing adoption of smartphones and electric vehicles. However, rising lithium prices and its scarcity may hamper market demand for the portable battery market. The Asia-Pacific region is said to have the largest market share, owing to increasing technological innovations in countries like China and India, and is expected to continue dominating the market over the forecast period.

Growth factors:

Increased adoption of mobile devices

The adoption of smartphones and smart devices is increasing in countries around the world. Smartphones have simplified our lives by introducing functions such as online shopping, online banking, social networking services and other useful operations. Additionally, the adoption of 5G technology which would contribute to faster data speeds is expected to increase the portable battery market size. The COVID-19 pandemic has also led to an increase in smartphone sales, due to companies’ adoption of remote working and online services.

According to the GSMA, by the end of 2025, 5G is expected to account for more than a fifth of the total number of internet connections worldwide. According to the GSMA, by the end of 2020, 5.2 billion people, or nearly 67% of the world’s population, will have subscribed to mobile services. This figure is only expected to increase, due to the advancements in the smartphone industry. With this constant demand for smartphones and their use, the demand for portable batteries is expected to increase, as mobile batteries only contain a limited amount of battery capacity, after which they need to be recharged. Therefore, the increase in the use of smartphones is expected to affect the portable battery market significantly.

Constraints:

The rising cost of lithium

There has been a significant increase in the price of lithium all over the world. Due to this increase in lithium prices, many industries have been forced to increase the prices of their raw materials, in order to maintain a stable profit. This price increase is due to the large production of lithium in the world. According to the United States Geological Survey, global lithium production (excluding the United States) in 2021 was approximately 100,000 tons, an increase of approximately 21% compared to the previous year (82,500 tons). The unexpected growth in demand for lithium-ion batteries has prompted this increase in production. The increase in demand is attributable to an increase in manufacturing and demand for electric vehicles (EVs). This followed government measures to replace combustion cars to combat the consequences of climate change.

Moreover, this increase in the cost of lithium is also due to a shortage of production, which has created a mismatch between supply and demand for lithium and has also hampered many important markets. These factors may reduce the portable battery market size and demand, resulting in slower growth.

Market segmentation :

By capacity range

  • 1000mAh

  • 2500mAh

  • 5000mAh

  • 7500 mAh

By product type

  • Tablets

  • smartphones

  • portable media players

By technology

  • Nickel-metal hydride

  • Ni-Cd (Nickel Cadmium) battery

  • Li-Polymer Battery (Lithium Polymer)

  • Li-ion battery (Lithium-ion)

By geography

  • North America

  • UNITED STATES

  • Canada

  • Mexico

  • South America

  • Brazil

  • Argentina

  • Europe

  • Germany

  • France

  • UK

  • Spain

  • Middle East and Africa

  • Saudi Arabia

  • Israel

  • South Africa

  • Asia Pacific

  • China

  • Japan

  • South Korea

  • India

Main topics covered:

1. INTRODUCTION

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

5. LAPTOP BATTERY PACKS MARKET, BY CAPACITY RANGE

6. LAPTOP BATTERY MARKET, BY PRODUCT TYPE

7. LAPTOP BATTERY PACKS MARKET, BY TECHNOLOGY

8. LAPTOP BATTERY PACKS MARKET, BY GEOGRAPHY

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

10. COMPANY PROFILES

Companies cited

  • Sony Company

  • Samsung

  • Mophie

  • Hold energizer

  • Battery Bak China

  • BYD Company

  • Duracell France

  • LG Chemistry

  • Oppo

  • Xiaomi Inc.

For more information about this report visit https://www.researchandmarkets.com/r/u5yy79


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