Press release
Mobile Battery Market: Size, Growth, Share, Trends, Competitive Landscape, Forecast To 2033
Mobile Battery Market:
Mobile Battery Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $30.5 billion In 2028 At A CAGR Of 5.7% :
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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Mobile Battery Market Major Segments
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
Key Driver - Global Smartphone Demand Fuels Expansion In The Mobile Battery Market
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.
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Prominent Trend - Mobile Battery Market Driven By Cutting-Edge Technological Advancements
Technological advancement is a key trend gaining popularity in the mobile batter market. Many Battery research companies are updating the newest technologies in the world to offer enhanced products to their users. In 2021, Xiaomi has developed a new battery technology for smart phones that could prepare OEMs to abandon the age-old lithium-ion technology currently used in smart phones. In terms of selling points, the company appears to be promoting its new High-Silicon Lithium battery technology, which offers a 10% increase in battery capacity at the same volume. Xiaomi claims that its negative electrodes now contain 300% more silicon. In addition to an in-house chip and advanced algorithms, battery performance should be enhanced greatly. Moreover, the company confirmed that mass production of the new high-silicon lithium batteries is scheduled for H2 2022.
Mobile Battery 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., Contemporary, 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.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the mobile battery market in 2023. The regions covered in the mobile battery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Mobile Battery Market Report Structure
3. Mobile Battery Market Trends And Strategies
4. Mobile Battery Market - Macro Economic Scenario
5. Mobile Battery Market Size And Growth
…..
27. Mobile Battery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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