New York, US, March 14, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Portable Battery Market Research Report Information By Technology, By Battery Capacity, By Application, And By Region – Market Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 27.54 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 8.68% during the assessment timeframe.
Portable Battery Market Overview:
Portable batteries are a must-have for any tech-loving adventurer. These batteries come in different power outputs and are compatible with various chargeable devices. Their lightweight and compact sizes make them suitable to carry everywhere easily, and their features, such as water resistance, dust protection, and shockproofing, make them suitable for outdoor applications.
The growing popularity of mobile devices coincides with the rise of portable batteries. Portable batteries perceive increasing adoption among hikers, campers, and trekkers needing power devices, such as phones, cameras, or GPS trackers, on the go. Also, batteries capable of running high-drain appliances are extensively used to power various devices and expandable solar power stations used by military personnel.
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Players leading the global portable battery market are-
- Acer Inc. (Taiwan)
- Sony Corporation (Japan)
- Alcatel-Lucent SA (France)
- Siemens AG (Germany)
- Dell Inc. (US)
- Nikon Corporation (Japan)
- Sharp Electronics Corporation (Japan)
- Advanced Battery Systems Inc. (US)
- Seiko Holdings Corporation (Japan)
- Casio Computer Co.Ltd. (Japan)
Portable Battery Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 27.54 Billion |
| Growth Rate | CAGR of 8.68% from 2023 to 2030 |
| Base Year | 2022 |
| Study Period | 2023-2030 |
| Key Market Opportunities | Advacement in technology |
| Key Market Drivers | Increasing usage of cell devices The rising demand for electronic gadgets |
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Industry Trends
Batteries provide a constant power supply on the trail and off. Resultantly, they are increasingly becoming a staple for every hiking backpack. These devices are exceptionally compact and lightweight and capable of powering up any compatible gadget. Portable batteries deliver high performance with fast charging and can even power two devices simultaneously.
Some are available with even an onboard battery, chargeable by solar panel, allowing more feasibility for the user to charge and store energy when the charger is not connected to any device. This also allows charging different electronic devices indoors as well as outdoors.
Some portable batteries come with additional capabilities, such as load and lighting control, primarily to regulate the power. The increasing use of portable batteries to charge smartphones, computers, tablets, and other electronic devices accelerates the market demand. Increasing awareness regarding fossil fuel conservation and rising clean fuel demand boost the size of the portable battery market.
Major battery manufacturers are developing portable batteries that are highly competitive and provide significant efficiency to end-users. They focus on product development as a key strategy to offer suitable portable solar chargers. They come with two or more USB charging ports with smart charging technology optimized to fit the needs of different devices.
Additionally, rapid technological advances and the application of rechargeable products in various applications bolster the demand for portable batteries. Increasing adventurous outdoor activities worldwide creates vast market demand.
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Portable Battery Market Segments
The portable battery market report is segmented into technologies, battery capacity ranges, applications, and regions. The technology segment is sub-segmented into lead acid, nickel metal hydride, lithium-ion polymer, nickel cadmium, and others (Phosphate Li-ion). The battery capacity range is sub-segmented into 0-3000mAh, 3000-5000mAh, 5100-10000mAh, and others (range over 10,000mAh).
The application is sub-segmented into smartphones, tablets, automotive applications, and others (power forklifts and telecom base stations). The region segment is sub-segmented into the MEA, Americas, Asia-Pacific, Europe, and rest-of-the-world.
Portable Battery Market Regional Analysis
The Asia Pacific region dominates the global portable battery market. Factors such as ample raw materials and cost-competitive workforces positively impact market growth. Besides, advancements in battery technologies and the growing use of portable devices in various sectors offer significant market opportunities.
The massive increase in production & sales of electronic devices in the region boosts the region's market shares. Furthermore, increasing foreign direct investments (FDIs) and heavy investments by key regional players for advanced product developments substantiate the market size.
Europe is another lucrative market for portable batteries globally. The presence of major players and well-developed infrastructure in this region increases the portable battery market size. Additional factors influencing market revenues are investments in research & development and a large user base in this region.
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Competitive Analysis
The portable battery market witnesses significant strategic approaches, such as expansions, collaborations, mergers & acquisitions, and product launches. Due to the expected innovations and improvements in product, service, and product innovations, the market is soon expected to witness intensified competition.
To gain a larger competitive share, players incorporate strategic initiatives such as collaboration, acquisition, partnership, product & technology launch, and expansion. Leading market players make huge strategic investments to drive their research and development activities and expansion plans. This market is expected to witness major product launches in 2023 and beyond.
For instance, on Mar.01, 2023, KULR Technology Group Inc. announced securing a follow-on contract worth US$2.68 million from a stationary and mobile lithium-ion battery power system manufacturer to supply its patented and proprietary fail-safe Passive Propagation Resistant (PPR) battery solutions.
After extensive design and testing, KULR's PPR technology will be deployed in a stationary or mobile energy product. KULR's customer is preparing to scale the full automation of its battery assembly operations, whereas KULR is trying to expand its automated PPR component manufacturing in North America.
In another instance, on Jan. 05, 2023, Growatt, a leading provider of portable batteries and clean energy solutions, launched its new portable power station, VITA 550, at CES 2023. Growatt's portable power stations are equipped with AC outlets and DC & USB ports, allowing users to carry them anywhere. Easy-to-carry battery-powered portable power stations are safe to operate indoors, offering ideal solutions for camping & road trips and home backup during power outages. They can also be used for DIY and off-grid living.
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