Press release
Portable Battery Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Portable Battery Market Share
The rising demand for consumer electronics is expected to boost the portable battery market. Consumer electronics, which include devices for entertainment, communication, and personal productivity, are growing in popularity due to modern lifestyles and advances in technology. Portable batteries are essential for enhancing the functionality and convenience of these devices by ensuring mobility and extended use. According to LG Corporation's 2022 annual report, the company's revenue grew by 12.9%, reaching $52.7 billion in 2022. The increased demand for consumer electronics is thus fueling the portable battery market.
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What growth opportunities are expected to drive the portable battery market's CAGR through 2034?
The portable battery market has seen strong growth in recent years. It will rise from $14.28 billion in 2024 to $15.61 billion in 2025, at a CAGR of 9.3%. This growth is driven by the increasing popularity of electric vehicles (EVs), rising standards for portable batteries, more research activities and initiatives, a growing demand for high-fidelity systems, and an increase in audiophiles.
The portable battery market is projected to grow to $21.98 billion by 2029, at a CAGR of 8.9%. Growth is attributed to growing awareness of eco-friendly products, increased demand for portable batteries for electric vehicles, higher demand for portable electronics, and investments in small-scale renewable energy sources. Trends include the adoption of electric vehicles, technological advancements, the development of smart grid technologies, the rise of wireless charging, and upgrades in sound technology.
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What are the emerging trends shaping the future of the portable battery market?
Companies in the portable battery market are focusing on innovative technologies, such as liquid-cooled systems, to enhance performance and extend battery life. Liquid-cooled technology uses a liquid to manage temperature and prevent overheating in electronic devices. For example, in April 2024, Bounce Infinity, an India-based electric vehicle manufacturer, launched a liquid-cooled battery for its E1 electric scooter. This innovation increases the scooter's range from 85 km to 112-120 km and boosts battery capacity, ensuring more efficient cooling and reducing the risk of overheating in high-performance electric vehicles.
Which growth-oriented segments of the portable battery market are leading the industry's development?
The portable battery market covered in this report is segmented -
1) By Type: Lead Acid Battery, Lithium-Ion Battery, Nickel Cadmium Battery, Nickel Metal Battery, Other Types
2) By Battery Capacity: 0-3,000 Milliampere-Hour (mAh), 3,100-5,000 Milliampere-Hour (mAh), 5,100-10,000 Milliampere-Hour (mAh), Other Battery Capacities
3) By Application: Smartphones, Tablets, Automotive Application, Other Applications
Subsegments:
1) By Lead Acid Battery: Sealed Lead Acid (SLA) Batteries, Gel Lead Acid Batteries, Absorbent Glass Mat (AGM) Batteries
2) By Lithium-Ion Battery: Lithium Iron Phosphate (LiFePO4) Batteries, Lithium Cobalt Oxide (LiCoO2) Batteries, Lithium Nickel Manganese Cobalt (NMC) Batteries, Lithium Manganese Oxide (LMO) Batteries
3) By Nickel Cadmium Battery (NiCd): Standard NiCd Batteries, High-Rate NiCd Batteries
4) By Nickel Metal Hydride Battery (NiMH): Standard NiMH Batteries, High-Capacity NiMH Batteries
5) By Other Types: Zinc-Carbon Batteries, Alkaline Batteries, Solid-State Batteries, Sodium-Ion Batteries, Zinc-Air Batteries
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What regions are leading the charge in the portable battery market?
Asia-Pacific was the largest region in the portable battery market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the portable battery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the portable battery market?
Major companies operating in the portable battery market are Samsung Group, Tesla Inc., Sony Group Corporation, BYD Company Limited, Panasonic Corporation, LG Chem Ltd., Southwest Electronic Energy Group, Liebherr Group, EVE Energy Co. Ltd., Energizer Battery Inc., Exide Industries Ltd., Camel Group Co. Ltd., GP Batteries Intl., Amara Raja Batteries Ltd., Duracell Batteries Ltd., A123 Systems LLC, Shenzhen BAK Battery Co. Ltd., Guangdong Dynavolt Power Technology Co. Ltd., Rayovac Corporation, E-One Moli Energy Corp., Nbcell Battery
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What Is Covered In The Portable Battery Global Market Report?
•Market Size Forecast: Examine the portable battery market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the portable battery market for a structured understanding.
•Key Players Overview: Analyze major players in the portable battery market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the portable battery market.
•Segment Contributions: Evaluate how different segments drive overall growth in the portable battery market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the portable battery market.
•Industry Challenges: Identify potential risks and obstacles affecting the portable battery market.
•Competitive Landscape: Review strategic developments in the portable battery market, including expansions, agreements, and new product launches.
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