Global Portable Battery Market Size By Technology, By Capacity, By Application, By Geographic Scope And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Portable Battery Market size was valued at USD 10.16 Trillion in 2023 and is projected to reach USD 15.07 Trillion by 2030, growing at a CAGR of 5.8% during the forecast period 2024-2030.
Global Portable Battery Market Drivers
The market drivers for the Portable Battery Market can be influenced by various factors. These may include
Growing requirement for Consumer Electronics As smartphones, tablets, laptops, and wearable technology become more widely used, there is an increasing requirement for portable power sources, which is fueling the market for portable batteries.
The increase of hybrid electric vehicles (HEVs) and electric vehicles (EVs) The transition of the automotive industry to electric vehicles has resulted in a rise in the need for portable batteries for the purpose of charging EVs and HEVs.
Growing Need for Energy Storage Systems The market is expanding due to the use of portable batteries in energy storage systems to store renewable energy sources like solar and wind power.
Technological Advancements The need for portable batteries is being driven by innovations like wireless charging, high-energy-density batteries, and quick charging technologies.
Growing Use in Healthcare Devices The market is growing as a result of the growing usage of portable batteries in medical equipment such defibrillators, infusion pumps, and portable diagnostic devices.
Expanding Remote Work Trend As a result of the growing popularity of remote work, there is a greater need for portable batteries due to the rising use of portable electronics.
Government Initiatives and Subsidies The market for portable batteries is expanding as a result of government programs to encourage the use of renewable energy sources and electric vehicles.
Emerging Markets The need for portable batteries is being fueled by the growing use of smartphones and other electronic devices in these regions.
Global Portable Battery Market Restraints
Several factors can act as restraints or challenges for the Portable Battery Market. These may include
Restricted Energy Density The capacity of portable batteries to store energy is sometimes limited to a particular amount per unit volume or weight. This restriction may shorten portable device battery life and increase the need for frequent recharging.
Safety Concerns When it comes to portable batteries, particularly lithium-ion batteries, which can overheat, catch fire, or explode if not used or handled carefully, safety is a top priority. This safety concern may erode consumer trust and impede market expansion.
Environmental Impact If portable batteries are disposed of improperly, there may be a major environmental impact, particularly if the batteries include lead or cadmium or other dangerous elements. Because of this, there are now more rules governing the recycling and disposal of batteries, which may raise the price of producing batteries.
Cost The price of portable batteries, particularly those with large capacities and quick charging times, may be a major deterrent to their adoption. When it comes to portable batteries, consumers might be hesitant to pay more, particularly in countries where prices are tight.
Competition from Alternatives Fuel cells, wireless charging, enhanced energy harvesting technologies, and other alternative power sources compete with portable batteries in the market. The market for portable batteries may face challenges from these substitutes if they provide more sustainability, reduced costs, or greater performance.
Limited Lifespan The number of charge-discharge cycles that portable batteries may withstand before experiencing a noticeable capacity loss usually determines their limited lifespan. Because of their short lifespan, consumers who regularly need to replace their batteries may incur higher prices.
Natural disasters, geopolitical unrest, and shortages of raw materials or components are just a few examples of the supply chain disruptions that can affect production and drive price volatility in the portable battery industry.
Global Portable Battery Market Segmentation Analysis
The Global Portable Battery Market is Segmented on the basis of Technology, Capacity, Application, And Geography.
Portable Battery Market, By Technology
Lithium-ion (Li-ion) Dominant choice due to high energy density, long lifespan, and lightweight design.
Lithium-ion polymer (Li-po) Offers a slimmer and more flexible design compared to Li-ion, but may have slightly lower capacity.
Nickel-metal hydride (NiMH) An older technology, less common but offers lower cost than Li-ion options.
Nickel-cadmium (NiCd) Rarely used due to environmental concerns and lower performance compared to newer options.
Portable Battery Market, By Capacity
0-3000mAh Ideal for topping up smartphones or small devices.
3000-5000mAh Most popular range, offering enough power for most smartphone users.
5000-10000mAh Can fully charge a smartphone multiple times or power tablets and larger devices.
10000mAh and above High capacity for heavy users or charging multiple devices.
Portable Battery Market, By Application
SmartphonesLeading market segment due to their widespread use and reliance on battery power.
Other ApplicationsThis segment encompasses various devices that can benefit from portable batteries, includingTablets and laptopsWearable electronics (smartwatches, fitness trackers)Cameras and gaming devices
Portable Battery Market, Geography
North America Market conditions and demand in the United States, Canada, and Mexico.
Europe Analysis of the Portable Battery Market in European countries.
Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
Middle East and Africa Examining market dynamics in the Middle East and African regions.
Latin America Covering market trends and developments in countries across Latin America.
Key Players
The major players in the Portable Battery Market are
Sony
Samsung
Anker
Xiaomi
JBL
Panasonic
LG Chem
BYD
Sanyo
ATL
Report Scope
REPORT ATTRIBUTION
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Tillion)
KEY COMPANIES PROFILED
Sony, Samsung, Anker, Xiaomi, JBL, LG Chem, BYD, Sanyo, ATL
SEGMENTS COVERED
By Technology, By Capacity, By Application, And By Geography.
CUSTOMIZATION SCOPE
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