Press release
Battery Pack Market Revenue Strategies, Growth Factors, Trends & Forecast 2028 | Epec LLC, Cadex, Steatite, Excell Battery, ProTechnologies, Energizer Holding Inc.,
Battery Pack Market| Emergen Research
A battery pack is an electrical power storage device consisting of several batteries connected in a serial configuration. The device is rechargeable and delivers the desired power density or capacity. Batteries and interconnects are the chief components of a battery pack that provide electrical conductivity between the units. The device usually has a temperature sensor that notifies when the device is fully charged. Battery packs are most widely used in cordless machines and tools and battery electric vehicles. Some of the key advantages of these devices are their flexible design and ease of use.
The study on the Global Battery Pack Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Battery Pack market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Battery Pack industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Battery Pack industry.
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Some Key Highlights From the Report
Based on product type, the phone battery packs segment is expected to register the highest growth in revenue over the forecast period. Growth of this segment is spurred by growing use of smartphones worldwide and increasing need for longer power backup for smartphones and other mobile devices.
Based on battery type, the Li-ion battery segment accounted for the highest revenue share in 2020. Growing use of Li-ion batteries in battery packs due to advantages such as high energy density, enhanced voltage capacity, and lower self-discharge rate compared to other battery types is one of the primary factors bolstering this segment's growth.
In terms of end-use, the medical segment is projected to register the fastest revenue growth rate during the forecast period, owing to several favorable factors. Surging need for high-performance battery packs for a wide range of medical devices and equipment and growing use of wearable medical devices or gadgets such as fitness bands and hearing aids have led to a higher demand for the product.
Among regional markets, North America emerged as the largest contributor to the global market revenue growth in 2020. The region's thriving consumer electronics industry, increasing adoption of electric vehicles, and emergence of advanced battery technologies are the key drivers for the North America market growth.
The report highlights the current impact of COVID-19 on the Battery Pack market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Battery Pack according to the impact of COVID-19.
Major Players/Manufacturers profiled in the report are:
Epec LLC, Cadex, Steatite, Excell Battery, ProTechnologies, Energizer Holding Inc., Mophie Inc., BYD Battery Co. Ltd, LG Chem Power Inc., Panasonic Corporation, Simplo Technology Co. Ltd., Sony Corporation, and Samsung SDI Co. Ltd.
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For the purpose of this report, the global battery pack market is segmented on the basis of product type, battery type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
Laptop battery pack
Power battery pack
Phone battery pack
Others
Battery Type Outlook (Revenue, USD Billion; 2018-2028)
Lithium-ion battery
Nickel metal hydride battery
Lithium-polymer battery
Nickel cadmium battery
Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
Consumer electronics
Automotive
Power tools
Medical
Others
Regional Analysis of the Battery Pack Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a complete understanding of the Battery Pack market in key regions with respect to regional production and consumption patterns, import/export, supply and demand dynamics, trends, growth prospects, and the presence of prominent players in each region. Each of the mentioned regions is analyzed based on the comprehensive market data obtained from the major countries of each region to impart a clear understanding of the market.
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The report offers insightful information about the market dynamics of the Battery Pack market. It offers SWOT analysis, PESTEL analysis, and Porter's Five Forces analysis to present a better understanding of the Battery Pack market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Battery Pack market.
Key Coverage of the Battery Pack Market:
Insightful information regarding the global Battery Pack market
Identification of growth in various segments and sub-segments of the Battery Pack market
Strategic recommendations for investment opportunities
The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
Emerging trends and current market segment analysis to help investors formulate new business strategies
Accelerates the decision-making process through the availability of the drivers and limitations
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