Report Ocean published a new report on the portable battery market. The study includes an in-depth analysis of regional trends and market growth in North America, Europe, Asia-Pacific, and Middle East Africa. This study report also examines the challenges that are negatively impacting the industry’s growth and outlines a strategy adopted by companies during 2021 to 2030.
The portable battery market value was US$10.6 billion in 2020. The portable battery market is forecast to reach US$ 27.3 billion by 2030, with a growing compound annual growth rate (CAGR) of 10.2% during the forecast period from 2021-2030.
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Portable batteries are electrical batteries that can be charged and discharged. The portable battery finds applications in several industries, including the electrical industry and the automotive industry. Increasingly, automobiles and electronic devices use lithium-ion polymer batteries. A parallel connection of portable batteries with battery management software provides power for devices during emergency conditions.
Factors Influencing the Market Growth
A rise in global warming and government policies favoring electric vehicles provide ample opportunities for the growth of the portable battery market.
One of the key factors driving the market is the presence of an electric automobile giant and its rapid advancement in technology to make electric vehicles more comfortable and efficient for customers.
Rapid changes in portable electronic gadgets, such as smartphones, watches, and smart glasses, have spurred growth in the market.
Several factors are slowing the growth of the portable battery market, including fire risk, low conversion efficiency, and high raw material costs.
An increase in investments in the development of small-scale renewable energy sources will lead to the development of efficient energy storage systems in homes, which may present many opportunities for the growth of the portable battery market.
Impact Analysis of COVID-19
Global government regulation aimed at curbing the spread of the Coronavirus has negatively impacted most sectors of commercial and industrial markets. COVID-19 has drastically affected the portable battery market, as most major commercial electronics manufacturers have postponed product launches.
Due to the improper supply of raw materials, the virus outbreak has resulted in economic and power crises.
The majority of countries in the world generate their electricity from foreign fossil fuels. It is one of the factors responsible for the electricity crisis during this pandemic period.
As a result of the energy crisis, the government has invested in the development of renewable energy sources like solar and wind.
In the wake of the pandemic, people became more conscious about the environment by developing portable equipment, which, in turn, increased the adoption of electric power-driven vehicles in commercial and industrial sectors. Thus, the pandemic outbreak has positively affected the global portable battery market.
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Regional Insight
With the presence of developing countries such as India and China, Asia-Pacific dominates the portable battery market. China produces more than 77% of the lithium-ion batteries that enter the global market, many of which serve as power sources for portable electronic devices and medical devices. Recent Indian government investments in lithium-ion battery manufacturing in Gujarat and the surge in demand for portable electronic devices in India due to excess income are driving the market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global portable battery market are:
A123 Systems, LLC
BYD Co. Ltd.
Contemporary Amperex Technology Co. Limited
eCobalt Solutions Inc.
Johnson Controls
LG Chem Ltd.
Other Prominent Players
Panasonic Corporation
Samsung Group
Tesla, Inc.
Toshiba Corporation
Scope of the Report
The global portable battery market segmentation focuses on Technology, Capacity, Application, and Region.
Segmentation based on Technology
Lead-acid
Nickel–metal hydride
Lithium-ion polymer
Nickel-cadmium
Others
Segmentation based on Capacity
0-3,000mAh
3,000–5,000mAh
5,100–10,000mAh
10,000mAh and more
Segmentation based on Application
Smartphones
Tablets
Power Forklifts
Others (Automotive applications and Telecom Base Stations)
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Aim of the Report
This study aims to determine the market size of various segments and countries with forecast values for next ten years.
Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
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