Portable Battery Pack Market

Global Portable Battery Pack Market (2023 to 2028)

The global portable battery pack market size is expected to be worth USD 11.16 Billion in 2023. It is expected to grow at a CAGR of 19.60% during the forecast period and reach a value of USD 27.31 Billion by 2028.

A portable battery pack is a set of several identical batteries or individual battery cells. These battery packs eliminate the requirement for conventional charging sources and allow the end-users to charge portable devices anywhere and anytime. These are hand-held devices that are sealed and carried with ease anywhere. However, numerous technologies are utilized to enhance battery backup, including nickel-cadmium, lithium-polymer, and lithium-ion. The design of these portable battery packs includes fuel-gauging accuracy, system safety, and battery charging.

MARKET DRIVERS:

Growing demand for grid-connected solutions is the major factor that was driving the growth of the Global Portable Battery Pack Market. Also, the high demand for lithium-ion technologies in the renewable energy industry is another key factor that was fuelling the target market's growth. Further, rapid growth in the usage of tablets and smartphones all around the world is likely to propel the growth of the portable battery pack market in the coming years.

The availability of portable batteries in a wide range of shapes, chemistries, sizes, and applications is the major factor that was expanding the growth of the Portable Battery Pack Market. Also, the growing usage of lithium-ion technology in the batteries is providing more computing power, which also makes them thinner and smaller in size. Moreover, the Li-Polymer and Li-Ion battery packings are significantly preferred in most of portable devices because of the high gravimetric energy density and volumetric.

Nonetheless, reducing the costs of lithium-ion batteries, which is giving liberty in the adoption, is creating lucrative growth opportunities for the expansion of the players in the global portable battery pack market.

MARKET RESTRAINTS:

However, the uncertainty in the availability of vendors and project financing is the major restraint that was hampering the growth of the Global Portable Battery Pack Market. In addition, the expense factor involved in the deployment of these portable battery packs is another factor that challenged the target market's growth.

Impact of COVID-19 on the portable battery pack market:

The impact of the COVID-19 pandemic had an adverse effect on various industries, including the portable battery pack market. Various governments have imposed lockdowns in different sectors, which has resulted in a shortage of workers at various manufacturing facilities. Due to the lack of manpower, these manufacturing facilities are struggling to move their cargo. Also, this implementation of lockdown has created complexities in transportation facilities like Trucks and Trains. These factors are restraining the growth of the market during the pandemic.

REPORT COVERAGE:

This research report on the global portable battery pack market has been segmented and sub-segmented into the following categories.

Portable Battery Pack Market – By Type of Battery:

• Li-ion (Lithium-ion) Battery
• Lithium-Polymer Battery
• Nickel Metal Hydride Battery
• Nickel Cadmium Battery

Portable Battery Pack Market – By Type of Product:

• Mobile Phones
• Tablets
• Portable Media Players
• Other Electronic Devices
• Others

Portable Battery Pack Market – By Capacity Outlook:

• 1,000 mAh to 2,500 mAh
• 2,500 to 5,000 mAh
• 5,000 to 7,500 mAh
• 7,500 to 10,000 mAh
• Above 10,000 mAh

Portable Battery Pack Market – By Price Range Outlook:

• Low
• Mid
• High

Portable Battery Pack Market – By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

In the regional analysis of the Global Portable Battery Pack Market, North America held the major share of the global market, in the revenue aspect. The rising adoption of smartphones and tablets across the region is the major factor that was driving the growth of the target market in this area. Moreover, growing disposable income among consumers in developed countries such as the US will be propelling the growth of the regional portable battery pack market in North America over the forecast period. Additionally, the increasing adoption of portable battery pack devices in the United States and Canada and rising demand for high-capacity range devices in the region are the other factors that are supporting the growth of the North American portable Battery Pack Market.

Europe's Portable Battery Pack Market is estimated that it is going to witness significant development during the forecast period. The major factors that support the growth of the target market in this locale are the extensive research & development activities in the production of batteries and the rising demand for smart wearable electronic products in Europe. Also, growth in internet penetration and rising adoption of smartphones will accelerate the growth of the Portable Battery Pack Market in Europe over the outlook period.

KEY MARKET PLAYERS:

The key players in the Global Portable Battery Pack Market include China Bak Battery, Inc., Duracell International Inc., BYD Company Ltd., Energizer Holding Inc., Samsung Sdi Co. Ltd, Simplo Technology Co. Ltd, Sony Corporation, Panasonic Corporation., LG Chem Inc., Mophie Inc., Anker Technology Co. Limited, CHEERO USA INC., Nikon Corporation, Braven LC – INCIPIO Technologies, Xiamen Bao Yaun Electronic Technology Ltd., Diamond Microscope Est., Aryan Enterprises, Bharat Power Solutions, Hybrid Energy system, Manicom Energy System, Coolup Electronics Co.Ltd, and Ctechi Group Limited among others.

RECENT HAPPENINGS IN THE MARKET:

• BYD Co Ltd, one of the key players in the global portable battery pack market, is going to supply Ford Motor Co with EV batteries, which are employed in Ford's electric vehicles.
• RS Components has introduced a range of alkaline batteries from Duracell Procell which are designed for replacing the company’s industrial range utilized in OEMs and professional end-users.