Portable Battery Pack Market Forecast | Best Power Bank on the Market, Key Players, and Future Outlook 2023-2029: China Bak Battery, Duracell, BYD Spearheading Innovation
Portable Battery Pack Market to Reach US$46.84 Billion by 2029, Driven by Rising Demand for Mobile Devices
Market Overview:
The global portable battery pack market is expected to reach US$46.84 billion by 2029, growing at a compound annual growth rate (CAGR) of 17.55% from 2023 to 2029. This growth is driven by the increasing use of smartphones and other mobile devices, as well as the growing popularity of smart home devices and wearable technology.
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Market Introduction:
A portable battery pack is a rechargeable device that can be used to store and supply electrical energy to portable electronic devices. They are available in a variety of sizes and capacities, and can be used to charge smartphones, tablets, laptops, and other devices.
Market Dynamics:
Several factors are contributing to the growth of the portable battery pack market:
- Increasing demand for mobile devices: Smartphones, tablets, and other mobile devices are becoming increasingly popular, and users are demanding longer battery life. Portable battery packs offer a convenient way to extend the life of these devices.
- Growing popularity of smart home devices and wearables: The increasing adoption of smart home devices and wearable technology is also driving the demand for portable battery packs, as these devices often require regular charging.
- Technological advancements: Advancements in battery technology are leading to the development of more efficient and powerful portable battery packs.
Market Segmentation:
The market is segmented based on several factors, including:
- Technology: Lead acid, nickel metal hydride, lithium-ion polymer, nickel cadmium, and others.
- Battery capacity: 0-3,000mAh, 3,100-5,000mAh, 5,100-10,000mAh, and others (more than 10,000mAh).
- Application: Smartphones, tablets, automotive applications, and others.
Market Players:
1. China Bak Battery, Inc.
2. Duracell International Inc.
3. BYD Company Ltd.
4. Energizer Holding Inc.
5. Samsung Sdi Co. Ltd
6. Simplo Technology Co. Ltd
7. Sony Corporation
8. Panasonic Corporation.
9. LG Chem Inc.
10. Mophie Inc.
11. Anker Technology Co. Limited
12. CHEERO USA INC.
13. Nikon Corporation
14. Braven LC – INCIPIO Technologies
15. Xiamen Bao Yaun Electronic Technology Ltd.
16. Diamond Microscope Est.
17. Aryan Enterprises
18. Bharat Power Solutions
19. Hybrid Energy system
20. Manicom Energy System
21. Coolup Electronics Co.Ltd
22. Ctechi Group Limited
Regional Insights:
- Asia Pacific is expected to hold the largest market share due to the widespread use of mobile devices and the growing popularity of smart home devices and wearables in the region.
- North America and Europe are also expected to see significant growth in the portable battery pack market due to the high disposable income and early adoption of new technologies in these regions.
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