Mobile Battery Market Outlook - 2030
The global mobile battery market size was valued at $21.2 billion in 2020, and is expected to reach $38.6 billion by 2030, registering a CAGR of 6.3% from 2021 to 2030. Mobile battery is the energy storage device used in smartphones or non-smartphones for the proper working of mobiles. Growing developments in smartphones increase the demand for mobile batteries with high battery capacity owing to power consuming applications in the smartphones such as gaming, social media, camera, and others. Nowadays, battery life is becoming an important aspect among digital natives, which resulted in driving the growth of the market in the coming years.
Surge in demand for smartphones, tablets, and other consumer electronics devices is expected to drive the growth of the battery market across the globe during the forecast period. However, high cost and potential risk hazards associated with lithium-ion battery is anticipated to hamper the global mobile battery market from 2021 to 2030. On the contrary, higher energy efficiency requirements in technologically updated consumer gadgets such as smartphones, is expected to create opportunity for key players operating in the market.
The global mobile battery market is segmented on the basis of type, application, sales channel, and region. Depending on type, the market is categorized into lithium-ion battery, nickel based and others. On the basis of application, it is bifurcated into smartphones and non-smartphones. By sales channel, it is divided into online and offline. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global market covers in-depth information of the major mobile battery industry participants. Some of the major players in the market include Samsung SDI Co., Ltd., Panasonic Corporation, Murata Manufacturing Co., Ltd., TWS, LG Corporation, Maxell, Ltd., Sunwoda Electronic Co., Ltd., Zhuhai CosMX Battery Co., Ltd., TianJin Lishen Battery Joint-Stock Co., Ltd., and Amperex Technology Limited.
Other players operating in the value chain of the global mobile battery market are DESAY, BYD, EEMB, Zhuhai Coslight Battery, China BAK Battery, ENERDEL, and others.
The key players are adopting numerous strategies such as agreement and acquisition, to stay competitive in the mobile battery market.
For instance, in September 2021, Murata Manufacturing Co., Ltd. acquired Eta Wireless Inc. (the developer of Digital Envelope Tracking Technology). By using digital envelope tracking technology, it can reduce the power consumption of RF circuits and contribute toward extension of battery life.
The mobile battery market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2021–2030. The report includes the study of the market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Mobile battery market, by type
By type, the lithium-ion battery segment held the largest mobile battery market share in 2020. This is attributed to rise in demand for lithium-ion batteries, owing to increase in need for smartphones and incorporation of additional features such as games, camera, music players, and video players, which require more energy due to increased utilization of the processor.
By Type
Lithium-Ion Battery segment is projected as the most lucrative segment.
Mobile battery market, by application
On the basis of application, the smartphones segment dominated the global market in 2020, in terms of share, owing to consistent growth of smartphones in the global mobile industry owing to the rise in demand for smartphones among age group of 18 to 30 years for social media, gaming apps, and others. In addition, rise in replacement of feature phone with smartphones increases the demand for mobile batteries in this segment and thereby is expected to drive the global mobile battery market during the analyzed time frame.
By Application
Smartphone is projected as the most lucrative segment.
Mobile battery market, by sales channel
By sales channel, the offline segment garnered highest market share in 2020. This is attributed to key advantages associated with offline distributors such as maintenance & services, replacement, faster problem resolving associated with battery functions and others. In addition, consumers across the globe are conservative and price sensitive across sales channels which resulted in driving the trend toward shopping of key mobile accessories such as mobile batteries, covers and others, owing to their faith in offline platform.
By Sales Channel
Offline is projected as the most lucrative segment.
Mobile battery market, by region
Asia-Pacific garnered highest share in the mobile battery market in 2020, in terms of revenue, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to presence of key players and huge consumer base in the region. In addition, increase in investments and R&D toward improving battery life and enhancing the performance of mobile phones is further projected to fuel the market growth in the region.
By Region
Asia-Pacific holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
COVID-19 impact on the market
Lockdown imposed due to the outbreak of the COVID-19 pandemic resulted in temporary ban on the import and export, thereby disrupting the supply chain and hampered the global mobile battery market growth in the second, third, and fourth quarter of 2020. In addition, there is expected to be some impact on the growth of the market in 2021, owing to second wave of COVID-19 pandemic across the globe. However, the market is expected to recover by the end of the year or by the end of third quarter of 2021 as the production in various industries restarts with rapid vaccination across the globe.
Key Benefits For Stakeholders
- The report provides an extensive qualitative and quantitative analysis of the current mobile battery market trends and future estimations of the global market from 2021 to 2030 to determine the prevailing opportunities.
- A comprehensive mobile battery market analysis of the factors that drive and restrict the market growth is provided.
- Estimations and mobile battery market forecast are based on factors impacting the market growth, in terms of value.
- Profiles of leading players operating in the market are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
Mobile Battery Market Report Highlights
| Aspects | Details |
 By Type |
|
 By APPLICATION |
|
 By SALES CHANNEL |
|
 By Region |
|
 Key Market Players | ZHUHAI COSMX BATTERY CO., LTD., PANASONIC CORPORATION, AMPEREX TECHNOLOGY LIMITED, SUNWODA ELECTRONIC CO., LTD., TWS, TIANJIN LISHEN BATTERY JOINT-STOCK CO., LTD., MAXELL, LTD, LG CORPORATION, MURATA MANUFACTURING CO., LTD., SAMSUNG SDI CO., LTD |
Analyst Review
According to the insights of CXOs of leading companies, the demand for smartphones is increasing across the globe owing to the rise in use of smartphones for social media, gaming, and other applications. Shopping through e-commerce and cashless payments are continuously growing across all age groups for smartphone owners across the globe which further resulted in driving the growth of the global mobile battery market in the coming years.
Rise in demand for smartphones from consumers across the globe owing to the wide usage of smartphones in various daily needs such as maps, calling, social media, and other professional applications is expected to rise the demand for mobile batteries with high battery capacity which in turn is expected to drive the market growth in the coming years. In addition, recent technological advancements in the battery technology such as graphene battery, can be the nearest solution to lithium-ion as this battery can store more energy than lithium-ion, fast charging, and others. On the contrary, rise in R&D activities toward battery life and durability in single charge is expected to create opportunity for key players operating in this market.
The global mobile battery market is segmented on the basis of type, application sales channel, and region. The smartphone is the main application of mobile batteries. Its other applications include featured phones, standard cell phones and others.
Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the market by the end of 2030, followed by Asia-Pacific, North America, and LAMEA.
The key growth strategies adopted by mobile battery market players are acquisitions and agreement.
The potential customers of the mobile battery market are smartphones and non-smartphone applications.
To get latest version of mobile battery market report can be obtained on demand from the website.
Surge in demand for smartphones, tablets and featured phones and rise in demand for longer battery life are key factors drives the mobile battery market growth during the forecast period.
Higher energy efficiency requirements in technologically updated consumer gadget is expected to be the key trend in the mobile battery market.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
On the basis of type, lithium-ion battery segment will drive the mobile battery market growth during the forecast period. On the basis of sales channel, offline segment will drive the growth of the mobile battery market. By application, smartphone segment will fuel the growth of the market.
Top players in the mobile battery market are Samsung SDI Co., Ltd., Panasonic Corporation, Murata Manufacturing Co., Ltd., TWS, LG Corporation, Maxell, Ltd., Sunwoda Electronic Co., Ltd., Zhuhai CosMX Battery Co., Ltd., TianJin Lishen Battery Joint-Stock Co., Ltd., and Amperex Technology Limited.
In terms of revenue, the market size of mobile battery market is anticipated to reach $38.6 billion by 2030, growing at CAGR of 6.3% from 2021 to 2030.
Asia-Pacific will provide business opportunities for mobile battery market during the forecast period. This is attributed to the huge consumer base in the region. In addition, increase in investment and R&D towards longer life of mobile batteries from manufacturers in this region in order to run mobile gadgets for longer time is expected to augment the growth of the mobile battery market during the forecast period.
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