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Global Portable Battery Market growing at a CAGR of 9.7% from 2023 to 2030

Category : Energy and Power | Published Date : Jul 2023

Key Market Overview

The global portable battery market was valued at USD 11,780.38 million in 2022 and is expected to register a compound annual growth rate of 9.7% to reach USD 24,357.87 million in 2030.

The report highlights the increasing demand for portable battery packs for efficient and seamless operation of electronic devices. Consegic Business Intelligence provides an inclusive research report on the portable battery market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.

Global Portable Battery Market By Overview

Global Portable Battery Market

The report analyses significant segments including technology, battery capacity, application, and region, to identify emerging trends and potential opportunities. The technology segment is expected to grow due to the high energy density of lithium-ion batteries. Moreover, the long lifespan of Li-ion batteries is accelerating the growth of the market. Furthermore, the application of lead-acid batteries in automotive batteries and Uninterruptible Power Supply Systems (UPS) is contributing to the growth of the market.

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Market Dynamics

Driver:

 

  • The increasing adoption of portable electronic gadgets due to changing lifestyle of consumers is accelerating the growth of the market.
  • The increasing demand for portable batteries for efficient charging of electric vehicles is propelling the growth of the market.
  • The technological advancements in battery systems with improved capacity, fast charging capabilities, and advanced features is driving the growth of the market.

 

Restraints:

  • The environmental risks associated with portable batteries is hindering the growth of the market.

Market Segmentation:

Report Attributes Report Details
By Technology Lead Acid, Nickel-Cadmium, Nickel-Metal Hydride, Lithium-ion Polymer, and Others
By Battery Capacity 0-2500mAh, 2500-5000mAh, 5000-10,400mAh, and Above 10,400mAh
By Application Smartphones, Wearable Accessories, Automotive, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The global portable battery market is highly competitive due to the presence of major players such as A123 Systems LLC, Samsung Electronics, Panasonic Corporation, Tesla Inc., BYD Company Ltd., Toshiba Corporation operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in portable battery market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.

  • A123 Systems LLC
  • Samsung Electronics
  • Panasonic Corporation
  • Tesla Inc.
  • BYD Company Ltd.
  • Toshiba Corporation
  • Johnson Controls
  • Stellantis NV
  • Lenovo