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Powering the Future: A Comprehensive Forecast Report on the Size, Share, and Opportunities in the Mobile Battery Market by 2033 || LG Chem, SK Innovation, Samsung SDI Co. Ltd, BYD Company Ltd, Sunwoda Electronic Co. Ltd
Mobile Battery Global Market Report 2024
The Business Research Company presents an extensive market research report on the Mobile Battery Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The mobile battery market size has grown strongly in recent years. It will grow from $23.1 billion in 2023 to $24.45 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to emerging markets growth, rise in penetration of smartphones and rise in disposable income. factors that negatively affected growth in the historic period was stringent government regulations.
The mobile battery market size is expected to see strong growth in the next few years. It will grow to $30.5 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, evolving consumer preferences and growing research and development (r&d) activities. Major trends in the forecast period include focus on fast charging technologies, technological advancements to aid in development of new products, focus on graphene powered battery for high electrical conductivity and durability and adoption of solid-state batteries as a safer option.
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Key Market Players:
Major companies operating in the mobile battery market report are LG Chem, SK Innovation, Samsung SDI Co. Ltd, BYD Company Ltd, Sunwoda Electronic Co. Ltd, Panasonic Corporation, Zhuhai CosMX Battery Co. Ltd., Murata Manufacturing Co. Ltd., TWS, DESAY Battery Co. Ltd., China BAK Battery, Exide Industries Limited, HBL Power Systems Limited, Samwha Capacitor Group, Hello Bom, BSLBATT, Amron Batteries, Varta AG, Saft Groupe S.A., Leclanché, BMZ Group, Accutronics Ltd, Northvolt, SibPribor, Kursk Battery Plant, RUSNANO Group, Zavod AIT LLC, American Crane & Equipment Corp, Scott's Emergency Lighting and Power Generation, Dantona Industries Inc, Tenergy Corporation, Motion Industries Inc., Hollingsworth & Vose Co, EnerSys, Energizer Holdings Inc, Eveready Batteries, Duracell Inc, Acumuladores Moura S. A, Sertrading (Br) Ltda, Flextronics International Tecnologia Ltda, Clarion Energy Solutions Brasil Ltda, Industrias Tudor Sp De Bateriais Ltda, Abu Abdul Hakim Automotive Parts Est, Precision Electro Mech Est, AASP General Trading, Abbas Liaqat Trading LLC, Agetco General Trading LLC, First National Battery.
Market Drivers:
The rise in the demand for smart phones all over the world is driving the growth of the market. Mobile battery products demand only depends on the sales of the mobile phones as mobile phones are chargeable and need batteries in them. According to TechRadar, an online publication focused on technology, in 2021, the global Smartphone sales for the world's five largest manufacturers increased, with Samsung adding 7.6% to 272 million units - or 19% of the market and Apple devices sold increased by 19.7% to 239 million, and the company grew by 16.7% in terms of its market share. Xiaomi, Oppo, and Vivo all saw their shipments rise by roughly one-third. Therefore, the rising penetration of smart phones is driving the growth of the mobile battery market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/mobile-battery-global-market-report
The mobile battery market covered in this report is segmented -
1) By Type: Lithium Ion, Lithium Polymer, Nickel Cadmium, Nickel Metal Hydride, Other Types
2) By Sales Channel: Online, Offline
3) By Industry: Smartphone, Non-Smartphone
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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