According to the report published by Allied Market Research, the global portable battery market generated $10.9 billion in 2020, and is projected to reach $27.5 billion by 2030, witnessing a CAGR of 10.4% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
. The growth of the global market is majorly driven by rapidly urbanization and increase in infrastructural activities across the globe, especially in the developing countries such as India, Indonesia, and Brazil and others, which have escalated the demand for portable batteries. In addition, the presence of leading automotive leaders such as General Motors, Tesla, Ford, and Chrysler is expected to have a positive impact on the development of the market. This is attributed to rise in awareness regarding the advantages of electric-driven vehicles. The presence of portable electronic manufacture giants such as Dell, Motorola, Materials Handling Group, and other government agencies is further anticipated to provide remunerative opportunities for the global market during the forecast period.
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The report offers detailed segmentation of the global portable battery market based on form capacity, application, technology, and region.
Based on technology, the lithium iron polymer segment held the highest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. However, the nickel metal hydride segment is estimated to register the highest CAGR of 13.2% from 2021 to 2030.
Based on application, the smartphones segment held the largest market share in 2020, holding around half of the total market share, and is expected to continue its leadership status during the forecast period. However, the automotive applications segment is projected to register the highest CAGR of 10.8% from 2021 to 2030.
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Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding nearly half of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is also projected to manifest the fastest CAGR of 18.7% during the forecast period. Other regions mentioned in the report include North America, Europe, and LAMEA.
The key players operating in the global portable battery industry include A123 Systems LLC, BYD Company Ltd., Contemporary Amperax Technology Co., Limited., eCobalt Solutions, Johnson Controls, LG Chem, Panasonic Corporation, Samsung, Tesla Inc., and Toshiba Corporation. These players have adopted key development strategies such as new product developments, investments, joint venture, and acquisition to strengthen their foothold in the global market.
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Impact Of Covid-19 On The Global Portable Battery Market
- Implementation of stringent government regulations across the globe to curb the spread of the coronavirus has created a negative impact on the development of most of the commercial and industrial markets.
- The COVID-19 pandemic has significantly affected the portable battery market, as most of the commercial electronics manufacturers have postponed the product launch. The outbreak of virus has further led to economic and power crisis due to improper supply of raw materials.
- Most of the countries in the world depend on fossil fuels from other countries to generate electricity. This is one of the factors, which lead to electricity crisis during this pandemic period. To overcome this crisis, the government has invested in the development of renewable energy resources such as solar and wind energy.
- Increase in awareness among people regarding the environment and healthcare during the pandemic time leads to the development of portable medical equipment, which, in turn, has increased the adoption of electric power-driven vehicles in commercial and industrial sectors.
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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. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. 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.