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Mobile Battery Global Market Report 2024 To 2033 | LG Chem, SK Innovation, Samsung SDI Co. Ltd, BYD Company Ltd, Sunwoda Electronic Co. Ltd
Mobile Battery Market Share
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According to The Business Research Company's, 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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Market Drivers and Trends:
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.
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.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Gestamp Automoción, S.A, Shiloh Industries Inc, Clow Stamping Company Inc., Kenmode Precision Metal Stamping, D&H Industries, Inc., Sertec Group Ltd, Acro Metal Stamping, Interplex Holdings Pte. Ltd., Goshen Stamping Company, Harvey Vogel Manufacturing Co., Manor Tool & Manufacturing Company, Klesk Metal Stamping Co, AAPICO Hitech Public Company Limited, Thyssenkrupp AG, Mospressare, Lada-Press, Largo, Electromash, Zavod Met Alloform, Tempco Manufacturing Company Inc., S-MEX S.A. de CV, Aperam, ArcelorMittal, Gerdau, Sinobras, Ternium, BÜCHI Labortechnik AG, DILO Armaturen und Anlagen, Hilliard Corporation, National Aluminum Products Company, Mih Building Material, Alico Industries Company Limited, Urbanstudio, Amajed Industries, Arabian International Company Aic Steel, Qatar Steel, Smiths Manufacturing (Pty) Ltd, Novelli Pumps, Mahle Behr South Africa, Feltex Fehrer
Mobile Battery Market 2024 Key Insights:
• 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%.
• Global Smartphone Demand Fuels Expansion In The Mobile Battery Market
• Mobile Battery Market Driven By Cutting-Edge Technological Advancements
• Asia-Pacific was the largest region in the mobile battery market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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