The global portable battery pack market size is slated to reach USD 16.89 billion in 2023. The estimated market CAGR for the years 2023 to 2033, as per FMI predictions, is 12.6% CAGR. By the end of the forecast period, the market is assessed to attain a market valuation of USD 55.34 billion.
Portable Battery Pack Manufacturers or Businesses are being Impelled by:
Factors Inhibiting the Market Expansion:
| Attributes | Details |
|---|---|
| Portable Battery Pack Market Size (2018) | USD 7.98 billion |
| Portable Battery Pack Industry Size (2022) | USD 15 billion |
| Portable Battery Pack Market Size (2023E) | USD 16.89 billion |
| Portable Battery Pack Market Forecast Size (2033F) | USD 55.34 billion |
| Portable Battery Pack Market Value-based CAGR (2023 to 2033) | 12.6% |
| Portable Battery Pack Industry Value-based CAGR (2018 to 2022) | 17.1% |
Opportunities Proliferating the Portable Battery Pack Market:
Recent Trends Expected to Orchestrate More Growth in the Market:
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In the historical period, the market gained values of USD 7.98 billion in 2018 and USD 15 billion in 2022. The market throughout the historical period enjoyed a CAGR of 17.1%.
In the preceding years, the market has been dictated by the proliferation of mobile phones in the market space. This trend sprang from technological advances aimed at reducing the communication gap and fostering human comfort.
The portable battery pack market mimicked the growing situation spotted by the manufacturers of mobile phones. As a result, the main market is quite fragmented and is observing an elevation of end-product quality that is being purchased by end-user.
The fragmented market has also influenced the product cost, which is available in different price categories.
Over the forecast period, the market is pegged to achieve USD 55.34 billion by 2033. At present, the market is estimated to stand at USD 16.89 billion in 2023. From 2023 to 2033, the market is expected to register a CAGR of 12.6%.
Growing discretionary income and resultant expenditures over gadgets are expected to favor market expansion. The adoption of novel technologies is also anticipated to have a positive influence on the overall market in the years to come.
| Country | The United States |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 8.57 billion |
| CAGR % 2023 to End of Forecast (2033) | 11.3% |
In the United States, the market is projected to be valued at USD 8.57 billion by 2033. From 2023 to 2033, the market is expected to experience a CAGR of 11.3%. The market is being backed by the growing focus of multiple power bank manufacturers to equip devices with USB Type-C connectivity. This is expected to be an add-on to the present micro USB connectivity and quick charging facilities in power banks. These new developments are taking place to suit the high utilization of these features in several applications.
| Country | China |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 14.03 billion |
| CAGR % 2023 to End of Forecast (2033) | 14.1% |
The China portable battery pack market is estimated to attain a prominent value share of USD 14.03 billion by 2033. Throughout the forecast period, the market is expected to expand at a significant CAGR of 14.1%. The following factors support the market in China:
| Country | The United Kingdom |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 1.44 billion |
| CAGR % 2023 to End of Forecast (2033) | 10.9% |
The European region is flourishing, concerning the sales of portable battery packs. For instance, the market value of the United Kingdom is estimated to climb up to USD 1.44 billion by the end of 2033. During the estimated time frame, the market is assessed to expand at 10.9% CAGR.
The European region is driven by factors like soaring expenditure on connected and smart home appliances. In addition to this, the addition of mobility features is also a key factor that is influencing product sales.
Principal Consultant
| Segment | Smartphones |
|---|---|
| CAGR % (2023 to 2033) | 12.4% |
| CAGR % (2018 to 2023) | 16.1% |
Based on product type, smartphones are expected to be the top leading segment. The segment is expected to observe a growth rate of 12.4% CAGR. The market has witnessed a surge in the demand for smart devices in the past few years, and this trend is only going to become stronger in the future.
Mobile phones are used profusely and by the maximum population. When used during commute or traveling, these devices drain batteries and do not have a readily available charging station. That’s where the portable battery packs come into the picture.
Adding on to the aforementioned illustration, increasing investments in smartphones is also fueling the demand for a portable battery pack for phone or iPhone.
Based on technology, lithium-ion battery is enjoying an extensive share of the market in 2023. Robust innovation and advancement in technology are propelling the use of portable battery packs. In addition to this, supportive government policies are expected to fuel the adoption of electric vehicles in developed as well as developing economies. This is going to have a positive influence on lithium-ion batteries.
Lithium-ion also finds applications in the telecommunication industry. Lithium-ion batteries are lightweight and offer high-energy density power sources for portable gadgets like smartphones, digital cameras, tablets, etc.
Competitors in the portable battery pack industry are emphasizing business strategies like geographical expansion and mergers and acquisitions. Companies competing in the industry are zeroing in on product innovation and upgradation. Additionally, firms are also focusing on strategic alliances with other businesses to elevate their product portfolio and cater to the extant customer base. Strategic alliances and new product launches are saliant in this market for the market’s overall growth.
Key Developments in the Portable Battery Pack Market:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; and the Middle East and Africa (MEA) |
| Key Countries Covered | The United States, Canada, Mexico, Germany, the United Kingdom, France, Italy, China, Japan, South Korea, Australia, Brazil, the Middle East and Africa |
| Key Segments Covered | Capacity Range, Product Type, Technology, and Region |
| Key Companies Profiled | BYD Co. Ltd.; China Bak Battery Inc.; Duracell International Inc; Energizer Holdings, Inc.; LG Chem Inc.; Zagg; Panasonic Corporation; Samsung Sdi Co. Ltd.; Simplo Technology Co., Ltd.; Sony Corporation |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at USD 16.89 billion in 2023.
The market is expected to register a growth rate of 12.6% through 2033.
The market is estimated to reach USD 55.34 billion by 2033.
Rising standard for portable battery may propel market growth.
BYD Co. Ltd., China Bak Battery Inc., and Duracell International Inc. are key market players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Capacity Range 5.1. 1000 MAH - 2500 MAH 5.2. 2510 MAH - 5000 MAH 5.3. 5010 MAH - 7500 MAH 5.4. 7510 MAH - 10000 MAH 5.5. Above 10000 MAH 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 6.1. Smartphones 6.2. Tablets 6.3. Portable Media Players 6.4. Others 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Technology 7.1. Lithium-ion Battery 7.2. Lithium-polymer Battery 7.3. Nickel Cadmium Battery 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. BYD Co. Ltd. 16.2. Duracell International Inc 16.3. Energizer Holdings, Inc. 16.4. LG Chem Inc. 16.5. Zagg 16.6. Panasonic Corporation 16.7. Samsung Sdi Co. Ltd. 16.8. Simplo Technology Co., Ltd. 16.9. Sony Corporation 17. Assumptions & Acronyms Used 18. Research Methodology
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Portable Battery Pack Market
