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There are big changes in the portable battery business because of how people use their phones and how popular extra batteries are. People are looking for more stable and easy-to-reach power sources while they are out and about because they use smartphones, tablets, and other similar devices so much. Extra batteries, which are sometimes called "power banks," are very useful for people who use their tools all day. People with busy lives need batteries that last longer, so there is more demand for small cells that can hold a lot of power and be charged quickly. Since this happened, the market now works differently.
Another thing that affects how fast the business moves is how flexible portable batteries are. Electronics like smartwatches, Bluetooth headphones, and portable speakers can all be charged with these. Many tech items, not just smartphones, can be charged with these. We need more power choices that can work with a lot of different small devices as the number of them grows. People are responding by selling a lot of different kinds of portable batteries that can be charged online, work with lots of different electronics, and have lots of different plugs.
Multiple factors, including the rise in electric vehicles (EVs) and the need for better energy sources, are changing the market for portable batteries. More and more, electric cars and green energy systems are using portable batteries as well. In this way, compact batteries are being made that have more power and last longer. This fits in with the push around the world for better energy sources like these. Therefore, the combination of consumer electronics and clean energy choices is a major event that has an impact on the business.
Competition between companies that make portable batteries is an important part of how the business works. Each company tries to make batteries that are different and work better. As a result of this competition, power banks have been made that can charge quickly, have strong power control systems, and are small. Businesses that make portable batteries and businesses that make devices are working together to make it easier to make solutions that use both hardware and software in the best way possible so that they can work well together.
Online shopping and business methods that deal directly with customers have a big effect on how the industry works. People find it easy to shop online because they can read reviews, compare features, and buy something that fits their needs. This lets them choose from many compact cells. The ability to reach people all over the world and make sure their products are appealing to a wide range of tastes has made e-commerce sites very important for companies that make portable batteries. Because of this change in the way people shop, the market is getting more lively. This makes people who make things want to keep making them better.
Portable Battery Market Highlights:
Global Portable Battery Market Overview:
The Portable Battery Market Size was valued at USD 14.15 Billion in 2022. The Portable Battery industry is projected to grow from USD 15.82 Billion in 2023 to USD 27.54 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.68% during the forecast period (2024 - 2032). An electrical battery that may be charged and discharged into a load is called a portable battery. Numerous end users, including the electrical sector and the automobile industry, are suitable for portable batteries. During the projected period, an increase in infrastructure development activities across emerging nations like India is anticipated to fuel market growth. Additionally, the market for portable batteries is expanding due to the rapid rise in global warming and the expansion of government laws that are supportive of electric vehicles. To power equipment in emergencies, portable batteries are linked in parallel to create energy storage systems with battery management software.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Portable Battery Market Trends
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Advancements in technology
Portable batteries, also known as power banks, allow users to charge their devices while away from a power source, providing a convenient and reliable source of power. This is particularly important for people who are frequently on the go, such as travelers, commuters, and outdoor enthusiasts. The advancements in technology have led to the development of more efficient and compact portable batteries, making them easier to carry and more effective at charging electronic devices. This has increased the appeal of portable batteries to a wider range of consumers, further driving demand for these products.
Portable Battery Market Segment Insights:
Portable Battery Technology Insights
The market segmentation, based on Technology, includes Lead Acid, Nickel Metal Hydride, Lithium-ion Polymer, Nickel Cadmium, and Others. The Lithium-ion Polymer segment holds the majority share in 2022, contributing to the global Portable Battery revenue. Due to the quick growth of technology and innovation, the use of portable batteries has increased. The market is growing owing to the quick invention and development of portable consumer electronics technologies as favorable government regulations for the adoption of electric cars in both developed and developing nations.
Portable Battery Battery Capacity Insights
Based on Wattage, the market segmentation includes 0-3,000mAh, 3,100-5,000mAh, 5,100-10,000mAh, Other. The 3,100-5,000mAh segment dominated the market. Rapid technological advancement and innovation have increased the use of portable batteries across many industries. Additionally, the growth of border conflicts and terrorist operations throughout the globe has sparked the creation of surveillance robots and drones with modest payloads.
Portable Battery Application Insights
Based on Application, the market segmentation includes Smartphones, Tablets, Automotive, and Others. The smartphone segment is the largest segment of the market. As smartphones are being used more and more in current culture. Additionally, the increased functionality of smartphones placed significant stress on their hardware and batteries, which prompted many electrical and battery industry titans to spend to solve some issues.
Figure 2: Portable Battery Market, by Application, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Portable Battery Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region leads the global market for portable batteries. Due to the presence of growing nations such as China and India. An additional important aspect driving the industry is the enormous population. Market expansion is being fueled by recent government investments made by India in a lithium-ion battery production facility in Gujarat and a rise in demand for portable electronic devices in the nation as a result of the availability of surplus money. The expansion of the market has also been positively impacted by rising healthcare awareness among consumers as well as increased usage and benefits of portable medical equipment during the pandemic.
Figure 3: Portable Battery Market SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Portable Battery Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Portable Battery industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Portable Battery industry to benefit customers and expand the market sector. Major market players, including Sony Corporation, Acer Inc, Sharp Electronics Corporation, Casio Computer Co Ltd, Seiko Holdings Corporation, and others, are attempting to increase market demand by funding R&D initiatives.
Sony is a firm that creates, designs, manufactures, and markets electronic tools, gadgets, and equipment for consumer, business, and industrial industries such as video gaming hardware and software. Additionally, it produces and acquires image-based software, including movies, home entertainment, and television goods, as well as develops, produces, markets distributes, and broadcasts recorded music. Additionally, Sony offers financial services, such as operations for life and non-life insurance. In addition, the corporation has network services and advertising operations.
Acer is a provider of hardware, software, and services to consumers and companies in the information and communications technology sector. The company is involved in the research, design, marketing, sales, and support of a variety of products and services, including servers, cloud services, e-business services, commercial solutions, digital signage solutions, beverages, smart cities, and medical AI. Other products and services include gaming and esports platforms, gadgets, servers, and servers. Some of its well-known brands are PLANET9, ConceptD, Predator, and Acer.
Key Companies in the Portable Battery market include
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Acer Inc
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Alcatel-Lucent
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Dell Inc
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Siemens
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Nikon Corporation
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Advanced Battery Systems Inc
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Sharp Electronics Corporation
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Casio Computer Co.Ltd
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Seiko Holdings Corporation
Portable Battery Industry Developments
February 2024: Sony India introduced the SRS-XV500, a fresh new portable party speaker that boasts powerful sound output, built-in lighting, and long-lasting battery life – thus extending its lineup within India. The SRS-XV500 allows you to plug in a karaoke mic so you can sing all night with it. These speakers are an IPX4-certified device made to withstand water spills and also have USB connectivity for plug-and-play features. The Sony SRS-XP500 is designed to deliver a great audio experience along with versatile features suitable for parties or daily use; it offers portability, durability, and high-quality sound performance. Pricing at Rs 31,990 in the Indian market alone, where this product is available only now till then everywhere else, will take some time before becoming widely accessible, so if anyone wants one, they should get their hands on it soon enough!
December 2023: Atlas Copco – one of the industrial sector giants – released what has been coined as ‘B-Air’: the world’s first-ever battery-driven portable screw air compressor, thus keying into a greener future for global industries. Also, by introducing B-Air 185-12, which is a battery-driven portable screw air compressor, into its range of electric-powered portables, Atlas Copco has increased its offerings under this category while setting another record as a pioneer in making such machines available anywhere around the world thereby marking yet another milestone towards sustainability within industrialization sector.
January 2023: the AlphaTheta (think Pioneer DJ) launched a brand-new OMNIS-DUO. Also, another entrant enters what had previously been an empty space for fully battery-operated DJ booths like Denon DJ Prime Go or Numark Mixstream Pro. This much-leaked device will be the first-ever DJ product carrying an AlphaTheta logo and wordmark on it. Can’t say we weren’t warned either – diligent internet sleuths spotted OMNIS DUO on Suat’s livestream as he cavorted around Venice Beach. That was a pretty good tell of the type of product we’d be getting: a party in a box designed to take parties anywhere you want.
October 2022: Siemens and Automotive Cells Company (ACC) have joined forces in a new strategic relationship after signing a Memorandum of Understanding. According to the deal, Siemens will take over as ACC's top automation, digitalization, and electrification technology supplier. This will allow ACC to build up its production while increasing plant and energy efficiency.
Portable Battery Market Segmentation
Portable Battery Technology Outlook
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Lead Acid
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Nickel Metal Hydride
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Lithium-ion Polymer
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Nickel Cadmium
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Others
Portable Battery Battery Capacity Outlook
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0-3,000mAh
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3,100-5,000mAh
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5,100-10,000mAh
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Other
Portable Battery Application Outlook
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Smartphones
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Tablets
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Automotive
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Others
Portable Battery Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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