WASHINGTON, Jan. 11, 2022 (GLOBE NEWSWIRE) -- The Global Portable Battery Pack Market size is expected to reach over USD 24.9 Billion by 2028, exhibiting a CAGR of 10.5% during the forecast period.
Market Synopsis
Advancements in technology related with battery, rise in safety requirements, growing trend of smart devices and expansion in market for consumer electronics are the determinants facilitating the growth of portable battery pack market globally. Adoption of advanced technologies and government regulations are the factors restraining the growth for portable battery pack, states Vantage Market Research, in a report, titled “Portable Battery Pack Market by Technology (Lead acid, Nickel metal hydride, Lithium-ion polymer, Nickel-cadmium), by Capacity (0-3000mAh, 3000-5000mAh, 5100-10000mAh, Others), by Applications (Smartphones, Tablets, Automotive Application, Others), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)
List Of Prominent Players in the Portable Battery Pack Market:
- Energizer Holding Inc. (U.S),
- BYD Battery Co. Ltd (China),
- LG Chem Power Inc. (South Korea),
- Panasonic Corporation (Japan),
- Mophie Inc. (U.S),
- Simplo Technology Co. Ltd. (Taiwan),
- Samsung SDI Co. Ltd. (South Korea),
- Sony Corporation (Japan).
Market Dynamics:
Driver: Rising Demand for Tablets and Smart Phones
There has been a surge in demand for smart devices in the past few years and will be more in the coming years. Laptops and mobile phones are extremely necessary these days and human beings are getting dependent on these gadgets. People often witness low battery signals while on public transport or a bus where there’s no charging points accessible. Power cuts results in dead phones at times and there won’t be any outlets to charge. Portable battery helps in charging as soon as the device run out of battery. Increase in laptops and smartphones is directly proportionate to rise in demand of portable batteries in this way.
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Important questions answered in this report:
- What is the estimated market size and growth rate of the Portable Battery Pack Market?
- Which segments are included in the Portable Battery Pack Market?
- Which top companies are active in the Portable Battery Pack Market?
- What are the major driving factors for the growth of the Portable Battery Pack Market?
- How can I get free sample reports or study of Portable Battery Pack Market?
Challenges: High Competition
Manufacturers of portable batteries face a high competition within the market owing to high number of manufacturers present in the market for portable battery pack. Each manufacturer comes with wide range of portable batteries in market with a number of features as per customer needs. It makes new entrant hard to survive unless it has a portable battery technology which is updated. Existing manufacturers always look for new technologies to gain competitive advantage. Hence, makes the new and existing entrants extremely challenging and competitive.
Regional Trends
Asia-Pacific is likely to held a substantial share in the portable battery pack market globally in 2021. This is attributed to large consumption of smart phones and various other portable gadgets. The emerging nations in this region such as China, India, Myanmar and Vietnam are giving efforts to modernize and expand the wireless devices services. Nations like Malaysia, Japan and Australia are learning to develop new batteries and are anticipated to play a key role in the expansion of the market in Asia-Pacific.
Key Findings
- Lithium-ion cells to hold a significant market share: Lithium-ion cells are generally uniform in size and battery holds 2200~2600mAh on an average and are manufactured mainly in Korea, Japan, and China. These cells costs less compared to Li-polymer owing to quicker and cheaper production methods and have huge energy densities.
- Smartphones to hold a significant market share: Smartphones segment dominate the battery pack market and are likely to grow at a fast rate. Laptops and smartphones have inbuilt batteries which can store battery for a shorter period of time. They also use internet services and data for long time which are likely to drain the smartphones battery rapidly. It created a high demand for power banks to keep running smartphones for a longer duration.
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The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Portable Battery Pack Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Portable Battery Pack Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Advantages of this Research:
- Evaluate market share for commercial Portable Battery Pack market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.
- Develop tactics and strategies to take advantage of opportunities in the Portable Battery Pack market.
- Latest Trends and Market Events and analyze essential events in Portable Battery Pack market.
- Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.
- Answer vital business questions; supports decision making in R&D to long term marketing strategies
- Develop economic models, forecast models, and healthcare frameworks.
This market titled “Portable Battery Pack Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 11.6 Billion |
| Projected Market Size in 2028 | USD 24.9 Billion |
| CAGR Growth Rate | CAGR of 10.5% from 2021–2028 |
| Base Year | 2021 |
| Historic Years | 2016 – 2020 |
| Forecast Years | 2022 – 2028 |
| Segments Covered | Technology: - Lead acid, Nickel metal hydride, Lithium-ion polymer Capacity: - 0-3000mAh, 3000-5000mAh, 5100-10000mAh Application: - Smartphones, Tablets, Automotive Application |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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