New York, Aug. 11, 2023 (GLOBE NEWSWIRE) -- According to the research report “Global Cordless Phone Battery Market” published by Consegic Business Intelligence, the market was sized at USD 27.93 Billion in 2022 and is expected to reach over USD 54.14 Billion by the year 2030, growing at a CAGR of 8.8%.
Global Cordless Phone Battery Market Size, Share & Trends Analysis, By Capacity (300-600mAh, 600-1200mAh, 1200mAh-1800mAH, and More than 1800mAh), Type (Nickel Metal Hydride (NiMH), Nickel Cadmium (NiCad), and Lithium ion (Li-ion)), Application (Residential and Commercial), and By Region, Forecast Period 2023 – 2030.
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A cordless phone battery is a rechargeable power storage device employed for the application of wireless communication devices. Moreover, cordless phone are communication devices that provides the convenience of mobility to the user without physically being present near to the base station or point of connection. In addition, cordless phone battery is an essential component of the handset, enabling it to function independently from the main base station. Cordless phone battery are widely in demand owing to the key factors including energy efficiency, optimal performance, and its prolonged application depending upon the usage.
| Report Attributes | Report Details |
| Market Size By 2030 | 54.14 Billion |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 8.8% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Panasonic Corp., Samsung SDI Co. Ltd., E-One Moli Energy Corp., Ultralife Corp., Shenzhen Highpower Technology Co., Ltd., GS Yuasa Battery Europe Ltd., GP Batteries International Ltd., Duracell Inc., FDK Corp., Artek Energy, and Energizer Holdings Inc. |
| By Capacity | 300-600mAh, 600-1200mAh, 1200mAh-1800mAH, and More than 1800mAh |
| By Type | Nickel Metal Hydride (NiMH), Nickel Cadmium (NiCad), and Lithium ion (Li-ion) |
| By Application | Residential and Commercial |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Key Market Highlights
- The Global Cordless Phone Battery Market size is estimated to reach USD 54.14 Billion by 2030 and grow at a CAGR of 8.8% during the forecast period (2023-2030).
- Globally, the Cordless Phone Battery market is divided into capacity based into the capacity into 300-600mAh, 600-1200mAh, 1200mAh-1800mAH, and more than 1800mAh.
- In the context of type, the market is separated into Nickel Metal Hydride (NiMH), Nickel Cadmium (NiCad), and Lithium ion (Li-ion).
- The application segment is segmented into Residential and Commercial.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
- Asia Pacific is estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in cordless phone battery.
Cordless Phone Battery Market Growth Drivers:
- Increasing requirement for long lasting and technologically advanced battery is driving the market growth
- Rising adoption of wireless technology among communication devices is driving the market growth of cordless phone market
Restraints
- Limited life span of battery pack is restraining the market growth
- Ecological concerns associated with the disposal of battery
Opportunity
- Innovation in Li-ion technology is projected to boost market growth of cordless phone battery
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Global Cordless Phone Battery Market Segmentation Details:
Based on Capacity, the 600-1200mAh segment accounted for largest market share in the cordless phone battery market in 2022. Owing to key features including compact size and capacity is driving the market growth for this segment. Moreover, aforementioned capacity of battery is widely available in different type including NiCad, NiMH, and Li-ion.
Based on Type, the Nickel Metal Hydride (NiMH) segment is accounted for holding the largest market share of 43.6% in the year 2022. The key factors attributed towards rise in demand for NiMH battery include its high power density up to 25% more than compared to NiCad batteries. Moreover, key advantage for the rise in adoption of NiMH is owing to less vulnerability towards memory effect since consumer do not have to completely drain the battery before recharging it. Furthermore, in term of environmental factors NiMH battery is more environmentally friendly compared to traditional NiCad battery. However, this battery has high self-discharge rate and requires efficient temperature condition for operation.
Based on Application, Commercial segment accounted for garnering the largest market share in the year 2022. The segment is also expected to grow at the fastest growth rate during the forecast period, 2023-30. The key reason for the largest revenue generation of the segment is owing to growing requirements of cordless devices for convenience and mobility. Moreover, better performance offered by wireless devices in comparison to wired sets tends to drive the market growth of the segment during the forecast period.
Based on Region, Asia Pacific has been a major contributor to the growth of the cordless phone battery market. Asia Pacific is contributing significantly to the research and development of cordless phone battery based products owing to the presence of key players including Panasonic Corp., Samsung SDI Co. Ltd., GS Yuasa Battery Europe Ltd., and others. The region is continuously witnessing growth in sectors including consumer electronic, semiconductors, energy and storage, and others is proliferating the growth of cordless phone battery market.
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List of Major Global Cordless Phone Battery Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- Panasonic Corp.
- Samsung SDI Co. Ltd.
- E-One Moli Energy Corp.
- Ultralife Corp.
- Shenzhen Highpower Technology Co., Ltd.
- GS Yuasa Battery Europe Ltd.
- GP Batteries International Ltd.
- Duracell Inc.
- FDK Corp.
- Artek Energy
Global Cordless Phone Battery Market Segmentation:
- By Capacity
- 300-600mAh
- 600-1200mAh
- 1200mAh-1800mAH
- More than 1800mAh
- By Type
- Nickel Metal Hydride (NiMH)
- Nickel Cadmium (NiCad)
- Lithium ion (Li-ion)
- By Application
- Residential
- Commercial
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Key Questions Covered in the Cordless Phone Battery Market Report
- What will be the potential market valuation for the Cordless Phone Battery market by 2030?
- The market valuation for the Cordless Phone Battery market is expected to be approximately USD 54.14 Billion by 2030 owing to the growing demand of backup source for providing power supply to electronic devices is driving the market growth.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the Cordless Phone Battery market's growth in the coming years?
- Asia Pacific is anticipated to witness the fastest CAGR during the forecast period due to the increasing investment by the government for the development of different sectors including semiconductor, energy and storage, and others.
- What specific segmentation details are covered in the Cordless Phone Battery market report, and how is the dominating segment impacting the market growth?
- The Commercial sector dominates the market in 2022 as Cordless Phone Battery due to growing demand for UPS from educational, telecommunication sectors.
- What specific segmentation details are covered in the Cordless Phone Battery market report, and how is the fastest segment anticipated to impact the market growth?
- Above 100 kVA capacity of UPS will emerge as the fastest segment owing to the growing requirement of efficient power backup system to protect the electrical devices from power spike, outage, voltage fluctuations and among others.
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