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Portable Battery Pack (Power Banks) Market Segmented By Li-ion Batteries, Li-polymer Batteries, Nickel Metal Hydride Batteries, Ni-Cd Batteries Type with 1,000 mAh to Above 10,000 mAh Portable Battery Packs Capacity for Mobile Phone and Tablet
The market for portable battery pack market was valued at US$ 11,344.6 Mn in 2022, and by the end of 2033, it is expected to have grown to US$ 40,975.8 Mn. The market for portable battery pack market is estimated to valuate to US$ 12,581.2 Mn in 2023 and is predicted to grow at a CAGR of 12.5% from 2023 to 2033.
An electrical storage device that can be charged and discharged into a load is a portable battery. The automotive and electrical industries, among others, make use of portable batteries. Mobile power supplies like portable battery packs make it easy to charge smartphones, phablets, tablets, and other 3C accessories on the go.
A special battery and a circuit to regulate power flow make up portable battery packs. It stores electrical energy and permits one to utilize it to charge cell phones and different frill. The power bank capacity and current charge level determine how long it takes to fully charge. Li-ion and lithium polymer batteries have a higher energy density than nickel-cadmium and nickel metal hydride batteries, which are more common in batteries. System safety, accuracy in fuel gauging, and battery charging are the three aspects that are taken into consideration when designing portable battery packs.
Due to an increase in infrastructure construction activities in developing nations like India, the global market is anticipated to rise during the forecast period. Additionally, the market for portable batteries is thriving due to the government's growing support for electric vehicles and the rapid rise in global warming. Automobiles and electronic devices have recently adopted lithium-ion polymer-based batteries as their power source.
There are now opportunities for the major players in the portable battery market due to the emergence of revolutionary methodologies that will make it possible to create the next generation of internet of things devices powered by portable batteries. Diagnostic monitoring patches, fitness bands, and hearing aids are examples of medical and consumer devices that are extremely popular and require portable batteries. The standards for chlorinated plastic, fire resistance, and the type of metal used in the production of portable battery-powered products must be met by the plastic and metal used in the production of portable batteries.
In terms of the regional market landscape, the market in North America held a leading market share of 27.6% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period. Meanwhile, demand for portable battery pack in the Europe region will hold around 22.2% of the market in 2022.
Portable Battery Pack Market Size (2023)
US$ 12,581.2 Mn
Projected Market Value (2033)
US$ 40,975.8 Mn
Global Market Growth Rate (2023-2033)
Li-ion (Lithium ion) Batteries Segment Market Share (2022)
India Market Growth Rate (2022)
Portable Battery Packs for Mobile Phones Segment Market Share (2022)
“Constant Threat of Piracy of Portable Battery Pack”
Power banks and other electronic goods remain particularly vulnerable to piracy. The materials used to make counterfeit power banks are of poor quality and have a shorter lifespan. These factors are anticipated to restrain growth of the global portable battery pack market. Despite the low overall quality of these products, they are offered at competitive prices, gaining consumers' attention.
“Increasing Emphasis towards the Adoption of Advanced Features”
Various power bank manufacturers are focusing on adding USB Type-C connectivity to their devices, in addition to existing micro USB connectivity and fast charging features owing to their wide adoption in various applications. Due to these the portable battery pack market was estimated to have the largest market share of 17.1% in 2022.
“Presence of robust distribution network in Portable Battery Pack Market”
In order to better serve customers, the market is concentrating on establishing robust distribution channels like multi-brand distributors and retailers of mobile accessory products. Market players benefit from these distribution channels by gaining a competitive advantage. Additionally, the most widely used method of distribution in China is online shopping.
Due to these portable battery pack market is estimated to grow at a CAGR of 10.1% over the forecast period in China.
“Rising Demand for the Smart Home Appliances Along with The Widespread Adoption of Technology”
Germany is one of the most significant country in Europe holding the largest share of 10.1% in the European portable battery pack market. This market growth can be attributed to the various factors such as increase spending on the smart and connected home appliances coupled with mobility features. Such factors are proving lucrative environment for the adoption of portable battery pack in the region.
Which Battery Type Holds a Larger share market in Portable Battery Pack Market?
“Rising Demand Long Lasting Rechargeable Battery”
The Li-ion (Lithium-ion) Batteries segment is expected to hold a higher share of the market accounting for more than 29.6% of the market share in 2022.Lithium-ion batteries are currently the most widely used and preferred rechargeable battery type for portable devices, and this trend is not anticipated to change any time soon.
Lithium-ion batteries do not have any alternatives due to their longitivity, which guarantees that demand for these batteries won't decline any time soon or until a better substitute is discovered.
Why Demand is increasing for Mobile Phones in Portable Battery Packs Market?
“Rising Demand for Tablets and Smart Phones”
In recent years, there has been an increase in demand for smart devices, and this trend is expected to continue. These days, mobile phones and laptops are absolutely necessary, and people are becoming reliant on them. When traveling by bus or public transportation and there are no readily available charging stations, low battery indicators are frequently visible. When the power goes out, phones sometimes won't work, and there won't be any places to charge them. When the battery in a device runs out, a portable battery helps charge it. In this way, the demand for portable batteries rises in direct proportion to the growth in smartphones and laptops. Due to these the portable battery pack market for mobile phones was estimated to have the largest market share of 41.2% in 2022.
Why Low Priced Portable Battery Packs are the Fastest Growing by Price Range for Portable Battery Packs Market?
“Low Prices Would Attract More Customers for the Portable Battery Packs”
Low priced portable battery packs are estimated to grow at the highest CAGR by price range, development tin technology would allow the low priced devices to improve over time and the low price range will attract a wider market, due to this reason, low priced portable battery packs are estimated to be the fastest growing over the forecast period.
The global Integrated portable battery pack market's key players are focusing on business strategies such as mergers and acquisitions and geographical expansion. Companies involved in portable battery pack are aiming for product innovation and strategic partnerships with other vendors to enhance their portfolios while addressing the demand of an expanding customer pool. The introduction of new products and strategic partnerships are key in this landscape.
Recent developments related to key players providing portable battery pack market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
Historical Data Available for
US$ Mn for Value
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In 2022, demand for portable battery packs markets for a valuation of US$ 11,344.6 Mn.
The globally portable battery pack market is estimated at 12.5% CAGR through 2033.
The market for the portable battery pack is forecasted to climb to US$ 40,975.8 Mn by 2033-end.
Demand for portable battery pack in India is projected to rise 13.8% CAGR over the next ten years.
In 2022, the North American portable battery pack market held a dominant market share of 27.6%.