USD 13.16 Billion
Portable Battery Market Size, Share, Growth Analysis, By Application(Mobile Phones, Smartphones, Tablets, Wearable Electronics), By Type(Lithium-ion Battery, Lithium-polymer Battery, Nickel-cadmium Battery, Nickel-cadmium Battery), By Technology(Lead Acid, Nickel Metal Hydride, Lithium-ion Polymer, Nickel-cadmium), By Capacity(0-3000mAh, 3000-5000mAh, 5100-10000mAh, and others (range more than 10), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2246 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
125
|Figures:
75
Portable Battery Market Insights
Global Portable Battery Market size was valued at USD 13.16 Billion in 2022 and is poised to grow from USD 14.53 Billion in 2023 to USD 32.07 Billion by 2031, growing at a CAGR of 10.4% in the forecast period (2024-2031).
A portable battery is a type of electrical battery that can be charged and disposed of as a load. Portable batteries find their application in many end-use applications such as power generation and the automotive industry. An increase in construction-related industries in developing economies such as India is expected to drive the growth of the global market during the forecast period. Moreover, rapidly increasing global temperature and increasing positive policies of governments towards electric vehicles provide more opportunities for the growth of portable battery market. Recently lithium-ion polymer-based batteries have been used in automotive electronics. The portable batteries are connected in parallel to create an energy storage system with battery management software to power devices in an emergency.
Tech giants from the automotive and energy industries in North America and Europe have shown a positive impact on the global portable battery market. Moreover, increased awareness of environmental and eco-friendly products has led to the demand for electric vehicles. The presence of Tesla as the largest electric car company and the rapidly advancing technology to make electric cars more comfortable and efficient for consumers are one of the key drivers for the market.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Smartphones
Fastest Growth
Tablets
Growth Rate
10.4% CAGR
Global Portable Battery Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Portable Battery Market Segmental Analysis
Based on its application, the global portable battery market can be segmented into mobile phones, wearable electronics, and other electronic devices. Based on their type, the global portable battery market can be segmented into lithium-ion batteries, lithium-polymer batteries, nickel-cadmium batteries, and others. Based on technology, the global portable battery market is categorized into lead acid, nickel metal hydride, lithium-ion polymer, nickel-cadmium, and others. By capacity, it is segregated into 0-3000mAh, 3000-5000mAh, 5100-10000mAh, and others (range more than 10,000mAh). From a geographical standpoint, the market is categorized as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Analysis by Application
The smartphone segment accounted for the largest share of the global portable battery market by 2022 due to the growing popularity of smartphone applications today. Additionally, increased performance on smartphones puts a heavy load on hardware battery capacity, resulting in investments from battery and power giants to overcome a wide range of problems. Besides, the increase in usage, the government supports cashless payments through mobile devices. Systems and compatibility with other devices are one of the most important drivers of demand for smartphone devices, which in turn encourages manufacturers to develop more efficient batteries. This product is expected to create more opportunities in the market.
The tablets segment plays a notable role in the global portable battery market, as tablets are popular electronic devices that often require additional power to extend their usage beyond their built-in batteries. Tablets typically have larger screens and more powerful processors compared to smartphones. As a result, they tend to have higher power consumption, leading users to seek external power sources like portable batteries to keep their tablets charged. Portable batteries cater to tablet users who require extended usage during travel, work, or leisure activities. Whether using tablets for productivity, entertainment, or communication, portable batteries provide a convenient solution to keep devices charged when an electrical outlet is not readily available.
Analysis by Battery Capacity
The 3,100-5,000mAh battery capacity segment accounted for the largest share of the global portable battery market by 2022, as rapid innovation and technological advancements lead to increased usage of portable batteries across industries. It's also turned electronics into a part of modern society and an important development in human civilization. These devices use portable batteries as power sources, which is driving the market growth.
In the portable battery market, the 5100-10000mAh segment refers to power banks and portable chargers with capacities ranging from 5100 milliampere-hour (mAh) to 10000mAh. This segment plays a unique and important role in portable batteries on the broader market. Power banks in the 5100-10000mAh range are suitable for users with moderate power requirements. These can charge smartphones, tablets and other small electronic devices several times before they need to be recharged. Power falls in the middle, making these power banks usable for everyday use, commuting, or situations where power output to the mains is limited. The 5100-10000mAh segment is known for its compactness and they can be passed. These power banks tend to be small and lightweight, making them easy to carry in your pocket, bag or purse.
Global Portable Battery Market By Application (%)
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Portable Battery Market Regional Insights
The Asia-Pacific holds the most important opportunity for the growth of the global portable battery market owing to its dominance in the sales of electronic devices and especially mobile phones, which accounts for the largest share in the global battery a portable market Increasing urbanization, increasing consumption and portability in this region. There are some key factors driving the growth of the battery market. Asia-Pacific dominates the portable battery market owing to the presence of developing countries such as India and China. The high availability is also a key driver for the market. China accounts for more than 77% of the lithium-ion battery penetration in the global market with most being used as power source for portable electronic medical devices Recent Indian Government investment in a lithium-ion manufacturing plant batteries in Gujarat, with others available income in the state Increased demand for portable electronic devices also drives the growth of the market. Furthermore, increased health literacy among people including medicine increasing adoption of portable devices and profitability during the pandemic positively influences portable battery market growth.
North America is the fastest growing segment in the global portable battery market. Growing sales of portable electronics, wearables, watches, flashlights, electronic toys, digital cameras and portable electricity banks are the major drivers of the portable battery market in both communities.
Global Portable Battery Market By Geography
- Largest
- Fastest
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Portable Battery Market Dynamics
Drivers
Advances in Technology
- Portable batteries, also known as power banks, allow users to charge their devices when with a power source, providing a cheap and reliable source of energy. This is especially important for human's frequent flyers, such as hikers, travelers and outdoor enthusiasts. Advances in technology have made portable batteries more efficient and compact, making them easier to carry and more effective in charging electronic devices This has increased the popularity of portable batteries, and has further increased the demand for these products.
Limited Energy Density
- The “Portable Battery Market” is expected to grow during the forecast period due to advancements in battery technology and high demand for portable packs in the consumer electronics industry such as mobiles, tablets, notebooks, and smart devices for the sake of others. Furthermore, the increasing demand for portable batteries in various application areas of telecommunications, computing, medical and military helps to create some vital opportunities for the industry during the forecast period Some factors exists, which limits the market and its scope.
Restraints
Rising Safety Concerns of Lithium-ion Technology
- Lithium-ion batteries dominate the global portable battery market. Although they offer high efficiency, they also present challenges such as limited lifetimes, safety concerns, and environmental issues related to extraction. The global portable battery market has become highly competitive, leading to price wars and reduced profit margins for manufacturers. Saturation in the market, coupled with intense competition, can restrict growth opportunities for new and existing players. Different devices have different power requirements and charging interfaces. Issues with the compatibility of portable battery devices can get in the way, requiring users to carry more cables or adapters. Efforts are being made to standardize, but achieving universal harmonization remains a challenge.
Environmental Concerns
- The disposal and recycling of portable batteries presents environmental challenges. Many batteries contain hazardous materials and can cause contamination if disposed of improperly. The environmental impact of battery manufacturing and disposal is a major concern, raising the need for sustainable environmentally friendly solutions.
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Portable Battery Market Competitive Landscape
The competitive environment of the Global Portable Battery Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options.
Top Player’s Company Profiles
- A123 Systems LLC
- BYD Company Ltd.
- GS Yuasa International Ltd.
- Hitachi, Ltd.
- Johnson Controls
- LG Chem
- NEC Corporation,
- Panasonic Corporation
- Samsung SDI Co., Ltd.
- Toshiba Corporation
- Sony
- Acer
- Dell
- Alcatel-Lucent Enterprise
- Siemens
- Nikon
- Advanced Battery Systems, Inc.
- Sharp Electronics Corporation USA
Recent Developments
- October 2022: Siemens and Automotive Sales Company (ACC) sign a memorandum of understanding and meet in a new strategic relationship. Under the agreement, Siemens will take over as ACC’s top automation, digitization and electrification technology supplier. This will allow ACC to manufacture its own infrastructure and will also increase the plant’s energy efficiency.
- June 2023: Agratus Energy Storage Solutions Pvt Ltd, a subsidiary of the Tata group, signed an agreement with the Gujarat government to set up India's first giga plant for lithium-ion battery manufacturing at the domestic Company's inception will invest US$1.57 billion to develop a 20 gigawatt (GW) capacity.
- December 2022: Amara Raja Battery Ltd (ARBL) announced plans to invest over $1,148.89 million (about $4 per person in the US) over ten years to set up research and development and greenfield plants for lithium-ion batteries in Mahbubnagar district of Telangana.
Portable Battery Key Market Trends
Growth and Adoption of Lithium-ion Battery Technology
- A major trend in the global portable battery market is the rapid growth and adoption of lithium-ion battery technology used for portable batteries such as smartphones, tablets, laptops and wearable devices. It’s due to the growing demand for electronics, including electric vehicles. Compared to conventional battery chemistries, lithium-ion batteries offer higher capacity, longer cycle life and lighter weight, making them ideal for portable applications. Another major trend is the rise of fast charging technology and wireless charging capabilities, making portable batteries more convenient and practical by catering to the fast-paced lifestyles of consumers.
Portable Battery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global portable battery market witnessed significant growth owing to the increasing demand for portable electronic devices such as smartphones, tablets, laptops, wearables, portable medical devices etc. The market is expected to continue to grow as consumer electronics become more prevalent and energy storage solutions are in higher demand in various applications. Technological innovation plays an important role in the growth of the portable battery market. Advances in battery chemistry such as lithium-ion, lithium polymers, and solid-state batteries have improved energy levels, safety and longevity in addition to providing convenient and practical portable batteries through innovative a designed in fast charging technology and wireless charging capabilities. The combination of increasing adoption of electric vehicles and expanding energy storage systems for renewable energy integration has driven demand for larger rechargeable batteries of batteries This trend has also benefited the portable battery market, as both companies use similar technologies and manufacturing processes. The surge in popularity of EVs has also led to the development of portable charging options for electric vehicles. The environmental impact of battery manufacturing and disposal is a major concern, raising the need for sustainable environmentally friendly solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 13.16 Billion |
| Market size value in 2031 | USD 32.07 Billion |
| Growth Rate | 10.4% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Portable Battery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Portable Battery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Portable Battery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Portable Battery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Portable Battery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Portable Battery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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