Portable Battery Market Outlook - 2030
The global portable battery market size was valued at $10.8 billion in 2020, and is projected to reach $27.5 billion by 2030, registering a CAGR of 10.4% from 2021 to 2030. Portable battery is a type of electrical battery that can be charged, and discharged into a load. Portable battery finds its application in several end uses such as electrical industry and automotive industry. Rise in construction activities of infrastructure across the developing countries such as India are expected to drive the growth of the global market during the forecast period. In addition, rapid rise in global warming and increase in favorable policies by the government toward electric vehicle is providing ample opportunities for the growth of the portable battery market. The lithium-ion polymer-based batteries are used in the automotive and electronic devices in the recent times. Portable battery is connected parallel to form energy storage systems with a battery management software to power devices during emergency conditions.
The presence of industrial giants of the automobile sector and energy sector in North America and European has shown a positive impact on portable battery market. Moreover, increase in awareness among people toward the environment and eco-friendly products has driven the demand for electric vehicles. The presence of electrical automobile giant Tesla and its rapid advancements in technology to make electrical vehicles more comfortable and efficient for customers is one of the key driving factors of market. Furthermore, rapid development of portable electronic gadgets such as smartphones, watches, smart glasses, smart band, and basic medical equipment has boosted the growth of market. In addition, increase in investments in the development of small-scale renewable energy sources require efficient energy storage systems in homes, which is anticipated to provide ample opportunities for the growth of portable battery market.
During the production of portable battery, manufacturers must adhere to stringent regulatory guidelines, as the battery usually stores energy in the form of chemical energy, which can lead to fire under unfavorable weather conditions. Fire risk, low conversion efficiency, high cost of raw materials are expected to hamper the growth of portable battery market.
The global portable battery market is segmented into technology, capacity, application, and region.
On the basis of technology, the global portable battery market is categorized into lead acid, nickel metal hydride, lithium-ion polymer, nickel-cadmium, and others. By capacity, it is segregated into 0-3000mAh, 3000-5000mAh, 5100-10000mAh, and others (range more than 10,000mAh). The applications covered in the study include smartphones, tablets, automotive applications, and others.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest portable battery market share, followed by North America and Europe.
The key players operating in the 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 major companies are adopting a number of strategies such as product launch, merger & acquisition, and research & developments to strengthen the market presence.
Portable Battery Market, By Region
Asia-Pacific dominates the portable battery market due to the presence of developing countries such as India and China. The presence of huge population further acts as a key driving factor of the market. China produces more than 77% of all lithium-ion batteries that enter the global market in which most of them are used as an energy source for portable electronic and medical devices. The recent investments of the Indian Government toward lithium-ion battery manufacturing plant in Gujarat and surge in demand for portable electronic gadgets in the country due to presence of excess income are driving the growth of market. Moreover, increase in awareness among the people regarding healthcare coupled with rise in usage and advantages of portable medical equipment during the pandemic outbreak has created positive impact on the portable battery market growth.
Global Portable Battery Market, By Technology
The lithium-ion polymer segment accounted for a major share in the portable battery market in 2020, owing to rapid innovation and development of technologies leading to increase in application of portable battery. The rapid innovation and development of technologies in the field of portable consumer electronics and the favorable government policies toward the adoption of electric vehicles among well-developed and developing countries foster the growth of the market. Moreover, lithium-ion batteries are lightweight and provide high energy density power source to drive portable devices such as mobile phones, smartphones, laptops, tablets, digital cameras, electronic cigarettes, flash light, and handheld game devices. In electric cars, lithium-ion batteries are used by connecting many small batteries in a parallel circuit. They further find their application in the telecommunication industry and as a power source for the power tools such as cordless drills, saws, garden equipment, which include whipper-snippers and hedge trimmers. Thus, all these factors collectively are likely to provide ample opportunities for the growth of market.
By Technology
Lithium Ion Polymer is projected to create abundant $ opportunity till 2030
Global Portable Battery Market, By Battery Capacity
The 3,100-5,000mAh battery capacity segment accounted for a major share in the portable battery market in 2020, owing to rapid innovation and development of technologies lead to increase in application of portable battery in variety of sectors. Moreover, increase in border disputes and terrorist activities across the world have led to the development of drone and small capacity spy robots. Electronic gadgets have become a part of the modern society and important part for the progress in the human civilization. These gadgets use portable battery as energy source , which promote the growth of market.
By Capacity
3000-5000mAh is projected as the most lucrative segment.
Global Portable Battery Market, By Application
The smartphone segment accounted for a major share of the portable battery market in 2020, owing to increase in application of smartphones in the modern society. Moreover, increase in functions in smartphones put heavy burden over the hardware and battery capabilities, which lead to the investment of various battery giants and electrical giants to overcome a number of problems. In addition, increase in usage and government policies to support cashless payment through mobile devices and their convergence with other devices is one of the most important factors that propel the demand for smartphone devices, which, in turn, is encouraging manufacturers to develop more efficient batteries. This factor is anticipated to provide ample opportunities for the growth of the market.
By Application
Smartphones is projected as the most lucrative segment.
COVID-19 analysis
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.
By Region
Asia Pacific holds a dominant position in 2020
Key benefits for stakeholders
- This report provides a detailed quantitative analysis of the current trends and future estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
- An in-depth portable battery market analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global portable battery market.
Key Market Segments
By Technology
- Lead Acid
- Nickel Metal Hydride
- Lithium-ion Polymer
- Nickel Cadmium
- Others
By Battery Capacity
- 0-3,000mAh
- 3,100-5,000mAh
- 5,100-10,000mAh
- Other (More than 10,000mAh)
By Application
- Smartphones
- Tablets
- Automotive Application
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Portable Battery Market Report Highlights
| Aspects | Details |
 By TECHNOLOGY |
|
 By CAPACITY |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | ECOBALT SOLUTIONS INC., TESLA, SAMSUNG, JOHNSON CONTROLS, LG CHEM, A123 SYSTEMS, PANASONIC CORPORATION, TOSHIBA CORPORATION, BYD, CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED (CATL) |
Analyst Review
According to the insights of the CXOs of the leading companies, the automotive sector is expected to be one of the major end users of lithium-ion polymer batteries. In addition, the penetration of electric vehicles is anticipated to provide a massive boost to the portable battery industry. Moreover, increase in degree of hybridization and electrification of different vehicles is a major trend that contributes toward the growth of the portable battery market. In the current scenario, the U.S. and China are leading in the global EV sales along with other developing countries such as India, which has already invested heavily to transform its public transportation infrastructure for EVs.
The CXOs further added that surge in demand for basic medical equipment, which are powered by batteries has positively impacted the market growth across the world. The development of electronic gadgets coupled with increase in application of these gadgets in the military sector contributes toward the market growth. For instance, in the U.S. defense sector, tablets are being used in helicopters, which are connected to the satellite to have free flow of information in the places where signals are not available, which, in turn, propels the demand for portable batteries. Furthermore, increase in efficiency of solar power panels and wind turbines fosters the demand for highly efficient batteries to store and distribute energy when required. In addition, governments of various countries have invested in the development of renewable energy infrastructure facilities. This involves the development of the efficient batteries, which can be used as energy storage.
Lithium-Ion Polymer segment holds the maximum share of the Portable Battery Market?
Smartphone users, tablet users are the potential customers of Portable Battery industry
To get latest version of portable battery market report can be obtained on demand from the website.
Asia-Pacific will provide more business opportunities for Portable Battery in future?
Increase in adoption of electric vehicles and sales of consumer electronics, increase in investment in the renewable sector key factors boosting the portable battery market growth
The top ten market players are selected based on two key attributes - competitive strength and market positioning
Rapid innovation and advancements in the technology is the key trend influencing the Portable Battery Market in the next few years
These players have adopted key development strategies such as new product developments, investments, joint venture, and acquisition to strengthen their foothold in the global portable battery market.
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
Smartphones, tablets and automotive applications are expected to drive the adoption of Portable Battery
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