Portable Battery Global Market – Overview
The global portable battery market is expected to exhibit robust growth at a strong 18% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global portable battery market is mainly driven by the growing demand for consumer electronics such as smartphones and tablets. The global portable battery market is expected to reach a valuation of USD 18 billion by 2023.
Portable batteries are battery packs that can charge up electronic devices without requiring a mainline power connection. They can be recharged periodically and store the electrical energy to enable access to it any time the user needs it. The growing demand for smartphones and tablets is the major driver for the global Portable Battery Market, as the growing demand for these consumer electronics has driven the demand for solutions that allow the user to recharge the devices if stranded without access to mainline power or if they are visiting areas that have frequent power shortage problems. The increasing demand for wearable sensors and other electronic devices is likely to be a major driver for the global portable battery market over the forecast period, as these devices need regular recharging in order to function to their full potential.
The growing demand for wireless charging in smartphones and tablets is likely to drive the product development patterns in the global portable battery market over the forecast period. Wireless charging is becoming increasingly popular in the smartphones sector due to the advantages it presents to the user, which is likely to be reflected in the growth trends in the portable battery market over the forecast period.
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Leading players in the global portable battery market include Simplo Technology Co. Ltd., Sony Corporation, Acer Inc., Samsung SDI Co. Ltd., Panasonic Corporation, Alcatel-Lucent SA, Dell Inc., Mophie Inc., LG Chem Inc., Siemens AG, Nikon Corporation, Energizer Holding Inc., Duracell International Inc., Advanced Battery Systems Inc., Sharp Electronics Corporation, China Bak Battery Inc., BYD Company Ltd., Casio Computer Co. Ltd., Seiko Holdings Corporation, and Lenovo Group Ltd.
In May 2019, Mophie announced a new powerstation branded product lineup, featuring the use of USB-C. The lineup includes four portable battery packs of different capacities. Product development to stay in line with technological advancements such as the development of USB-C is vital in the global portable battery market.
The global portable battery market is segmented on the basis of technology, capacity, application, and region.
By technology, the global portable battery market is segmented into lithium-ion, lithium-polymer, nickel-cadmium, and nickel metal hydride.
By capacity, the global portable battery market is segmented into up to 2500 mAh, 2600-5000 mAh, 5100-10400 mAh, and more than 10400 mAh.
By application, the global portable battery market is segmented into smartphone, tablet, media devices, and wearable accessories.
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Asia Pacific is likely to dominate the global portable battery market over the forecast period due to the growing production of progressive portable battery units in leading producers of consumer electronics such as China, Japan, and Taiwan. The consumer electronics industry in these East Asian countries has grown rapidly over the last few years, leading to a consequent demand for accessories such as portable battery packs. This is likely to be the major driver for the portable battery market in Asia Pacific over the forecast period. Other leading economies in Asia Pacific, such as India and Japan, are also among the leading producers of consumer electronics in the world and are also home to an increasingly affluent urban demographic that has emerged as a major consumer of electronic products. This is likely to be a major driver for the portable battery market in Asia Pacific over the forecast period.
North America is likely to exhibit rapid growth in the global portable battery market over the forecast period due to the growing demand for high-capacity battery units that can extend the operational life of consumer electronics.
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