Portable Battery Market Size to Exceed USD 34.79 Billion at 10.3% CAGR by 2032 | Exclusive Report By SNS Insider
This growth is being driven by advancements in technology and a growing consumer desire for portable electronic devices.
Pune, Sept. 09, 2024 (GLOBE NEWSWIRE) — Market Size and Growth Prospect:
“The Portable Battery Market Size was valued at USD 14.4 billion in 2023 and is expected to reach USD 34.79 billion by 2032 and grow at a CAGR of 10.3% over the forecast period 2024-2032– As Per the SNS Insider.”
The Portable Battery Market’s Growth Patterns
The increasing need for mobile and consumer electronics is driving the growth of the Portable Battery Market. New technologies such as lithium-ion and solid-state batteries are enhancing functionality and effectiveness, drawing in customers. The increasing popularity of smartphones, tablets, and wearable technology is speeding up market expansion. Additionally, the demand for sustainable energy and renewable sources is driving progress in battery technology, with a focus on increasing lifespan and improving charging speed. In spite of obstacles such as supply chain problems and environmental worries regarding battery disposal, the market stays strong. More funding put into research and development will boost advancements and cater to changing consumer demands.
The Demand Surge for Portable Batteries
Improvements in technology have resulted in portable batteries becoming smaller, stronger, and able to support high-energy devices, meeting the increasing reliance on smartphones and tablets. It is anticipated that by 2023, people will dedicate an average of 4.2 hours each day on their mobile devices, causing increased pressure on battery usage. High-resolution screens, strong processors, and advanced cameras on contemporary phones cause fast battery drainage, resulting in more than 60% of users feeling anxious about their battery life. This stress, coupled with our busy schedules – frequently away from electrical sockets – fuels the demand for portable batteries. A recent study shows that 85% of city workers bring portable chargers to maintain continuous device battery life.
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Key Players Covered in this Research Report are:
- Advanced Battery Systems
- Sony Corporation
- Acer Inc
- Alcatel-Lucent
- Casio Computer Co.Ltd
- Dell Inc
- Sharp Electronics Corporation
- Nikon Corporation
- Seiko Holdings Corporation. Siemens
- TESLA
- SAMSUNG
- BYD
- PANASONIC CORPORATION
- JOHNSON CONTROLS
Portable Battery Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 14.4 Billion |
| Market Size by 2032 | USD 34.79 Billion |
| CAGR | CAGR of 10.3% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Segments | • By Technology (Lithium-ion Polymer, Lead Acid, Nickel Metal Hydride, Nickel Cadmium, Others) • By Battery Capacity (0-3,000mAh, 3,100-5,000mAh, 5,100-10,000mAh, Other) • By Application (Tablets, Automotive, Smartphones, Others) |
| Key Growth Drivers | •The surge in portable electronics like smartphones and laptops drives the need for reliable, efficient portable batteries as these devices become essential to daily life. •Innovations in battery technology, such as lithium-ion and lithium-polymer, boost energy density, longevity, and efficiency, fueling market growth. |
Technology and capacity insights for 2023 will focus on the prominent segments in the portable battery market.
Based on Technology, in 2023, the lithium-ion polymer segment dominated the portable battery market at 34.2% due to its substantial impact on worldwide sales. The dominance is also propelled by quick technological progress and higher usage of portable gadgets, backed by advantageous electric vehicle regulations.
Based on Capacity the 3100-5000mAh capacity sector captured a 42.04% market portion due to advancements in technology and increased utilization in various fields. The increase in surveillance robots and drones, driven by worldwide security worries, additionally increases the need for portable batteries. Market growth is being driven by advancements in technology and changing industry demands.
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Key Market Segmentation
By Technology
- Lithium-ion Polymer
- Lead Acid
- Nickel Metal Hydride
- Nickel Cadmium
- Others
By Battery Capacity
- 0-3,000mAh
- 3,100-5,000mAh
- 5,100-10,000mAh
- Other
By Application
- Tablets
- Automotive
- Smartphones
- Others
Asia-Pacific’s leading position in the market for portable batteries.
In 2023, the portable battery market was dominated by the Asia-Pacific region, which had a 32.08% share, primarily due to the booming economies of India and China. The market demand is greatly boosted by the region’s sizable population and increasing disposable incomes. India’s recent focus on producing lithium-ion batteries and the growing demand for portable electronic devices are also helping to expand the market. Moreover, the increased public focus on healthcare amid the pandemic has led to a rise in the adoption of portable medical devices, which has had a positive effect on the mobile battery industry. This set of factors highlights the region’s strong position in market expansion.
Recent Development
- In December 2023: Atlas Copco unveiled the B-Air 185-12, the world’s first battery-powered portable screw air compressor. This innovative product marks a significant step towards sustainability in the industrial sector by offering a greener alternative to traditional air compressors. By adding this model to their range of electric-powered portables, Atlas Copco has not only expanded their product offerings but also set a new benchmark in global industrial sustainability.
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Key Takeaways for Portable Battery Market
- This understanding can help companies concentrate on utilizing this technology to secure market share and fulfill consumer needs.
- Businesses need to take into account this particular range of capacity when it comes to developing new products and fostering innovation in order to meet the growing demand for applications such as surveillance and drones.
- Companies can use this data to focus on these fast-growing areas, take advantage of government funds, and meet the rising demand for portable electronic devices.
- Businesses can take advantage of aligning their product offerings with this trend, concentrating on health-related applications to access new market opportunities.
TABLE OF CONTENTS – Analysis of Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Raw materials production data by country/region
5.2 Number of batteries manufactured, by country/region
5.3 Export-Import data, by region
5.4 Number of end-user units, by country (Laptop, Mobile Phones, wearable accessories, others)
6. Competitive Landscape
7. Portable Battery Market Segmentation, By Technology
8. Portable Battery Market Segmentation, By Battery Capacity
9. Portable Battery Market Segmentation, By Application
10. Regional Analysis
11. Company Profiles
11.1 Advanced Battery Systems
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.2 Sony Corporation
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.3 Acer Inc
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.4 Alcatel-Lucent
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.5 Casio Computer Co.Ltd
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
…
12. Use Cases and Best Practices
13. Conclusion
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