Global Portable Battery Pack Market is valued at USD 12.81 Billion in 2021 and is expected to reach USD 39.52 Billion by 2028 with a CAGR of 17.46% over the forecast.
Global Portable Battery Pack Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028. Growing demand for electronic gadgets, and rising growth of the consumer electronics industry are some of the major factors driving the growth of the Global Portable Battery Pack Market.
The portable battery pack is a type of mobile power supply that provides convenient mobile charging for tablets, smartphones, and other 3C accessories. The portable battery pack contains a special battery with a circuit to control the power flow. It stores electrical energy and allows it to be used to charge mobile devices and other devices. Depending on the capacity of the power bank and the current charge level, it may take a long time to pay. Li-ion and lithium polymer batteries have higher energy densities than conventional battery technologies such as nickel-cadmium and nickel-metal hydride. Major three important things to consider when designing a portable battery pack are system safety, fuel-measuring accuracy, and battery charging.
The Covid-19 pandemic has shown a negative impact on most industries worldwide including the portable battery pack industry. This can be attributed to significant disruptions in related production and supply-chain operations due to various precautionary lockdowns as well as other restrictions imposed by administrative authorities around the world. The same applies to the portable battery market. Moreover, consumer demand has also declined since then as people are now more eager to remove unnecessary expenses from their respective budgets as the outbreak has seriously affected the general financial condition of most people. The above factors are expected to weigh on the forecast timeline on the earnings path of the global portable battery pack market. However, after lifting the lockdown imposed by the concerned authorities, the global portable battery pack market is expected to recover accordingly.
The global portable battery pack market is segmented based on technology, battery capacity, product type, and geography. Based on technology, the market is segmented into lead acid, nickel metal hydride, lithium-ion polymer, nickel cadmium, and others. Based on battery capacity, the market is segmented into 0-3,000mAh, 3,100-5,000mAh, 5,100-10,000mA, and Other (More than 10,000mAh). Based on product type, the market is segmented into smartphones, tablets, portable media players, and others.
The key players operating in the portable battery industry include
In February 5th, 2021; CTEK Sweden AB, a leading global brand in battery management solutions, launched the CS FREE, an exciting new portable battery charger and maintainer with revolutionary Adaptive Boost technology, that will safely give a flat vehicle battery the power it needs to get going within 15 minutes.
In January 5th, 2019; Elecjet, a small company developing battery technology and products, announced the launch of its new fast-charging capable power bank. The battery pack is unique in its technology and uses graphene enhancement techniques to make charging faster and more efficient. The 5000 mAh Elecjet Apollo Traveler was a kind of power bank with an extremely fast charging time.
The growing use of cell phones and the growing demand for electronic gadgets are, some of the major factors driving the growth of the portable battery industry. Canon is now distributing Reyo Mini Projectors in India. Canon's Rayo i5 and R4 printers are lightweight, compact, and portable. The Rayo i5 has a 1900mAh (milliampere-hour) battery that lasts up to 120 minutes, while the R4 has a 1700mAh (milliampere-hour) battery that lasts up to 150 minutes (depending on usage). Similarly, Honda Motor Company, Ltd has partnered with Panasonic to develop a detachable and portable lithium-ion battery that can be used in a variety of applications, including autos, motorcycles, robotics, and other devices. Thus the growing demand for portable batteries in several industries for various product manufacturing is accelerating the growth of the market.
In recent decades, the demand for smart gadgets has increased and this trend will continue in the future. Laptops and cell phones are very useful nowadays and people are increasingly dependent on them. For example; according to the BrandEssence Market Research report, in 2021, 268.3 million portable computers were sold worldwide, and the growth was an impressive 19%. With the release of Windows 11 came good demand in the corporate segment. Lenovo ranks first: The company controls 24% of the market. HP Inc. And Dell showed results of 22% and 17% at the end of the year, respectively. Apple owns about 9%, and Acer accounts for 7%. Furthermore, low battery alerts are frequently seen on public transport or in buses without recharge stations. When the power supply is cut off, the phones die and there are no outlets to charge them. When the device runs out of battery, a portable battery can be used to charge it.
However, the government may enact stricter laws for the disposal of electronic waste in the coming years, which could hamper the overall growth of the portable battery industry. In spite of that, some revolutionary methods have emerged that will enable the development of the next generation of internet of things devices running on portable batteries, resulting in opportunities for key players in the portable battery market. Hearing aids, fitness bands, and diagnostic monitoring patches are examples of medical and consumer devices that require portable batteries and are very popular.
North America is expected to witness a significant growth in global portable battery pack market due to the growing demand for high-capacity devices in this region. In addition, the adoption of portable battery pack devices in the United States and Canada is also supplementing the growth of the global security market. For instance; the smartphone market in the United States is one of the largest in the world, with approximately 298 million smartphone users by 2021. For the full year of 2021, total tablet shipments grew 3.2% year-over-year and reached 168.8 million units, the highest level on the market since 2016. Thus, the growth of adoption of portable battery pack devices is driving the growth of the global portable battery market in the North America Region.
Asia-Pacific is expected to show a fastest growth in the global portable battery pack market due to the widespread use of mobile phones and other portable devices. At the end of 2019, 2.8 billion people in the Asia Pacific subscribed to mobile services, accounting for 66% of the population. About 500 million new members were added since 2014. Also, emerging economies in the region, such as India, China, Vietnam, and Myanmar, are working to expand and modernize wireless device services. Countries like Japan, Malaysia, and Australia are growing to develop new battery designs and are expected to play a major role in expanding the market in Asia-Pacific.
Middle East and Africa
|2018 - 2021
|2021 - 2028
|Market Size in 2021:
|USD 12.81 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 39.52 Billion
|Tables, Charts & Figures:
|Portable Battery Pack Companies
|A123 Systems LLC, Limited., eCobalt Solutions, Johnson Controls, LG Chem, Panasonic Corporation, Samsung, BYD Company Ltd., Tesla Inc., Contemporary Amperax Technology Co., Toshiba Corporation, and others.
|By Technology, By Battery Capacity, By Product Type
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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