The portable battery global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Portable Battery Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The portable battery market size has grown strongly in recent years. It will grow from $13.13 billion in 2023 to $14.28 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to the growing popularity of electric vehicles (EVs), increasing standards for portable batteries, rising number of initiatives and research activities, growing demand For high fidelity (Hi-Fi) systems, and growth in audiophiles.
The portable battery market size is expected to see strong growth in the next few years. It will grow to $20.19 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing awareness of environmental and eco-friendly products, increasing preference for portable battery packs for electric vehicles (EV) cars, increasing demand for portable electronics, and investments in small-scale renewable energy sources. Major trends in the forecast period include the adoption of electric vehicles, technological advancements, the development of smart grid technologies, the rise of wireless charging technology, and technological upgrades in sound technology.
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Scope Of Portable Battery Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Portable Battery Market Overview
Market Drivers –
The increasing demand for consumer electronics is expected to propel the growth of the portable battery market going forward. Consumer electronics refer to electronic devices designed for everyday use by individuals, typically for entertainment, communication, and personal productivity. The demand for consumer electronics is due to modern lifestyles, advances in battery technology, wireless connectivity, and the rise of remote work and online education. Portable batteries enhance consumer electronics’ functionality, convenience, and reliability by providing an essential power source that supports mobility, extended use, and versatility in various environments. For instance, in January 2023, according to the annual financial report 2022 published by LG Corporation, a South Korea-based consumer electronics company, LG’s annual revenue increased by 12.9% to reach $52.70 billion in 2022. Further, revenue was recorded at $22.5 billion in 2022, up 10.3% from 2020. Therefore, the increasing demand for portable electronics drives the portable battery market.
Market Trends –
Major companies operating in the portable battery market are developing innovative technology, such as liquid-cooled technology, to enhance performance, extend battery life, and improve overall efficiency. Liquid-cooled technology involves using a liquid to control the temperature of electronic parts, improving their efficiency and lifespan by avoiding overheating. For instance, in April 2024, Bounce Infinity, an India-based motor vehicle manufacturing company, launched a portable liquid-cooled battery. It is utilized for its E1 electric scooter. This innovation enhances the scooter’s range from 85 km to 112-120 km and boosts battery capacity from 1.9 kWh to 2.5 kWh. Unlike conventional air-cooled batteries, the new liquid-cooled batteries use a fire-retardant liquid to absorb heat from the battery and transfer it to external metal components. This design enables efficient cooling through exposure to ambient air, effectively minimizing the risk of overheating—a frequent problem in high-performance electric vehicles (EVs).
The portable battery market covered in this report is segmented –
1) By Type: Lead Acid Battery, Lithium-Ion Battery, Nickel Cadmium Battery, Nickel Metal Battery, Other Types
2) By Battery Capacity: 0-3,000 Milliampere-Hour (mAh), 3,100-5,000 Milliampere-Hour (mAh), 5,100-10,000 Milliampere-Hour (mAh), Other Battery Capacities
3) By Application: Smartphones, Tablets, Automotive Application, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the portable battery market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the portable battery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the portable battery market are Samsung Group, Tesla Inc., Sony Group Corporation, BYD Company Limited, Panasonic Corporation, LG Chem Ltd., Southwest Electronic Energy Group, Liebherr Group, EVE Energy Co. Ltd., Energizer Battery Inc., Exide Industries Ltd., Camel Group Co. Ltd., GP Batteries Intl., Amara Raja Batteries Ltd., Duracell Batteries Ltd., A123 Systems LLC, Shenzhen BAK Battery Co. Ltd., Guangdong Dynavolt Power Technology Co. Ltd., Rayovac Corporation, E-One Moli Energy Corp., Nbcell Battery
Table of Contents
1. Executive Summary
2. Portable Battery Market characterstics
3. Portable Battery Market Trends And Strategies
4. Portable Battery Market – Macro Economic Scenario
5. Global Portable Battery Market Size And Growth
…..
32. Global Portable Battery Market Competitive Benchmarking
33. Global Portable Battery Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Portable Battery Market
35. Portable Battery Market Future Outlook and Potential Analysis
36. Appendix
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