Mobile Phone Battery Market: Advanced Technologies and Growth Opportunities By 2030

The mobile battery market is projected to reach $38.6 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030. Mobile batteries are the batteries used to provide electric power to mobile phones for their operations. Mobile phones or smartphones have become the most integral part of everyday life. Mobile phones are not only used for telephonic conversation but also for checking in to places like doctor's offices, events, movies and accessing maps. For using these above-mentioned features, mobile phones must have a longer battery life in one charging cycle. There are different types of battery chemistries used in the mobile phones which include lithium-ion, nickel based, and other batteries. Among these battery types, lithium-ion batteries are the most widely used in mobile phones.

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Rise in demand for smartphones from people below the age group of 30 years across the globe is expected to drive the growth of the market during the forecast period. In addition, increase in use of two mobile phones such as smartphone and feature phones among professionals is further anticipated to fuel the global mobile phone battery market growth from 2021 to 2030. However, low penetration of smartphones among people with age above 60 and strong presence of featured phones across the globe is expected to hamper the growth of the market in the coming years.

The report offers detailed segmentation of the global mobile battery market based on type, application, sales channel, and region.

Based on type, the lithium-ion battery segment contributed to the highest share in 2020, accounting for more than two-thirds of the total share, and is expected to continue its leadership status during the forecast period. However, the nickel based segment is projected to witness the highest CAGR of 6.5% from 2021 to 2030.

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Based on sales channel, the offline segment held the largest share in 2020, accounting for nearly three-fifths of the total share of the global mobile battery market, and is estimated to continue its lead position during the forecast period. However, the online segment is expected to manifest the fastest CAGR of 6.4% from 2021 to 2030.

Based on region, Asia-Pacific accounted for the highest share in 2020, contributing to nearly two-fifths of the total market share, and is estimated to continue its dominant share by 2030. Moreover, this region is expected to portray the largest CAGR of 6.6% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

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COVID-19 impact on the market
The global mobile battery market witnessed steady and sluggish growth in 2020, owing to the outbreak of the COVID-19 pandemic. The outbreak has negatively impacted various industries across the globe. In addition, lack of raw materials, temporary shutdown of battery manufacturing, supply-demand imbalance and others which affected the sales of mobile batteries. This further resulted in restraining the growth of the mobile battery market till the effect of pandemic becomes less. Thus, it is estimated that step-by-step end of the lockdown and vaccination across the country will boost the economy, which, in turn, is expected to fuel the mobile battery market across the globe in the coming year.

Key Findings Of The Study
• In 2020, the lithium-ion battery segment accounted for about 69.75% of the share in the global mobile battery market, and is expected to maintain its dominance till the end of the forecast period.
• In 2020, the smartphones segment accounted for 82.2% mobile battery market share in the year 2020, and is anticipated to grow at a rate of 6.4% in terms of revenue, increasing its share in the global mobile battery market.
• Online is the fastest-growing sales channel segment in the global mobile battery market, expected to grow at a CAGR of 6.4% during 2021-2030.

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