Portable Battery Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company’s Portable Battery Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, September 19, 2024 /EINPresswire.com/ -- The portable battery market has experienced robust growth in recent years, expanding from $13.13 billion in 2023 to $14.28 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to the growing popularity of electric vehicles (EVs), increasing standards for portable batteries, rising number of initiatives and research activities, growing demand For high fidelity (Hi-Fi) systems, and growth in audiophiles.
What Is The Estimated Market Size Of The Global Portable Battery Market And Its Annual Growth Rate?
The portable battery market is projected to continue its strong growth, reaching $20.19 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing awareness of environmental and eco-friendly products, increasing preference for portable battery packs for electric vehicles (EV) cars, increasing demand for portable electronics, and investments in small-scale renewable energy sources.
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Growth Driver Of The Portable Battery Market
The increasing demand for consumer electronics is expected to propel the growth of the portable battery market going forward. Consumer electronics refer to electronic devices designed for everyday use by individuals, typically for entertainment, communication, and personal productivity. The demand for consumer electronics is due to modern lifestyles, advances in battery technology, wireless connectivity, and the rise of remote work and online education. Portable batteries enhance consumer electronics' functionality, convenience, and reliability by providing an essential power source that supports mobility, extended use, and versatility in various environments.
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Who Are the Leading Competitors in the Portable Battery Market Share?
Key players in the market include Samsung Group, Tesla Inc., Sony Group Corporation, BYD Company Limited, Panasonic Corporation, LG Chem Ltd., Southwest Electronic Energy Group, Liebherr Group, EVE Energy Co. Ltd., Energizer Battery Inc., Exide Industries Ltd., Camel Group Co. Ltd., GP Batteries Intl., Amara Raja Batteries Ltd., Duracell Batteries Ltd., A123 Systems LLC, Shenzhen BAK Battery Co. Ltd., Guangdong Dynavolt Power Technology Co. Ltd., Rayovac Corporation, E-One Moli Energy Corp., Nbcell Battery.
Which Key Trends Are Driving Portable Battery Market Growth?
Major companies operating in the portable battery market are developing innovative technology, such as liquid-cooled technology, to enhance performance, extend battery life, and improve overall efficiency. Liquid-cooled technology involves using a liquid to control the temperature of electronic parts, improving their efficiency and lifespan by avoiding overheating.
How Is The Global Portable Battery Market Segmented?
1) By Type: Lead Acid Battery, Lithium-Ion Battery, Nickel Cadmium Battery, Nickel Metal Battery, Other Types
2) By Battery Capacity: 0-3,000 Milliampere-Hour (mAh), 3,100-5,000 Milliampere-Hour (mAh), 5,100-10,000 Milliampere-Hour (mAh), Other Battery Capacities
3) By Application: Smartphones, Tablets, Automotive Application, Other Applications
Geographical Insights: Asia-Pacific Leading The Portable Battery Market
Asia-Pacific was the largest region in the market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Portable Battery Market Definition
A portable battery is a mobile device that stores electrical energy for later use. It provides a convenient power source for recharging electronic devices when a standard power outlet is unavailable. Portable batteries vary in capacity and size, catering to different power needs, from small units for a single phone charge to larger ones capable of powering multiple devices.
Portable Battery Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global portable battery market report covering trends, opportunities, strategies, and more
The Portable Battery Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on portable battery market size, portable battery market drivers and trends, portable battery market major players and portable battery market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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