Portland, OR, Feb. 01, 2022 (GLOBE NEWSWIRE) -- 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.
Increase in demand for smartphones, tablets, and other electronic devices and technological advancements drive the growth of the global mobile battery market. However, high costs and potential risks hazards related to lithium-ion batteries restrain the market growth. Contrarily, high energy efficiency requirements in technologically-updated consumer gadgets create new opportunities in the coming years.
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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.
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
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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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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.
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