According to the report published by Allied Market Research, the global mobile battery market generated $21.2 billion in 2020, and is projected to reach $38.6 billion by 2030, witnessing a CAGR of 6.3% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Rise in demand for smartphones from people below the age group of 30 years across the globe is expected to drive the growth of the market during the forecast period. In addition, increase in use of two mobile phones such as smartphone and feature phones among professionals is further anticipated to fuel the global mobile phone battery market growth from 2021 to 2030. However, low penetration of smartphones among people with age above 60 and strong presence of featured phones across the globe is expected to hamper the growth of the market in the coming years.
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The report offers detailed segmentation of the global mobile battery market based on type, application, sales channel, and region.
Based on type, the lithium-ion battery segment contributed to the highest share in 2020, accounting for more than two-thirds of the total share, and is expected to continue its leadership status during the forecast period. However, the nickel based segment is projected to witness the highest CAGR of 6.5% from 2021 to 2030.
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Based on sales channel, the offline segment held the largest share in 2020, accounting for nearly three-fifths of the total share of the global mobile battery market, and is estimated to continue its lead position during the forecast period. However, the online segment is expected to manifest the fastest CAGR of 6.4% from 2021 to 2030.
Based on region, Asia-Pacific accounted for the highest share in 2020, contributing to nearly two-fifths of the total market share, and is estimated to continue its dominant share by 2030. Moreover, this region is expected to portray the largest CAGR of 6.6% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global mobile battery market analyzed in the research include Samsung SDI Co., Ltd., Murata Manufacturing Co., Ltd., Panasonic Corporation, LG Corporation, TWS, Sunwoda Electronic Co., Ltd., Maxell, Ltd., TianJin Lishen Battery Joint-Stock Co., Ltd., Zhuhai CosMX Battery Co., Ltd., and Amperex Technology Limited.
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Covid-19 Scenario:
- Manufacturing activities of mobile batteries halted due to lockdown implemented across many countries. Moreover, disruptions in the supply chain and shortage of raw materials presented challenges in carrying out manufacturing with full capacity.
- The demand from applications such as smartphones, tablets, and other device manufacturing lowered significantly due to halt in daily operations during the lockdown. However, the demand is expected to grow steadily post-lockdown.
- The ban on import-export activities in China led to supply chain disruptions and supply-demand gap. As the restrictions are lifted off, the demand is estimated to restore.
Key Findings Of The Study
- In 2020, the lithium-ion battery segment accounted for about 69.75% of the share in the global mobile battery market, and is expected to maintain its dominance till the end of the forecast period.
- In 2020, the smartphones segment accounted for 82.2% mobile battery market share in the year 2020, and is anticipated to grow at a rate of 6.4% in terms of revenue, increasing its share in the global mobile battery market.
- Online is the fastest-growing sales channel segment in the global mobile battery market, expected to grow at a CAGR of 6.4% during 2021–2030.
- Asia-Pacific is expected to grow at the fastest rate, registering a CAGR of 6.6%, throughout the forecast period.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.