The global portable battery-powered products market size is expected to reach a valuation of USD 1334.4 billion by 2023. It is anticipated to register USD 3210.0 billion by 2033.
It is likely to witness a considerable CAGR of 9.2% in the forecast period from 2023 to 2033. The portable battery-powered products market is projected to establish a clear-cut revenue chance worth USD 1875.6 billion in the evaluation period.
| Attributes | Key Insights |
|---|---|
| Portable Battery-powered Products Market Estimated Size (2023E) | USD 1334.4 billion |
| Portable Battery-powered Products Market Projected Valuation (2023 to 2033) | USD 3210.0 billion |
| Value-based Portable Battery-powered Products Market CAGR (2023 to 2033) | 9.2% |
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High Demand for Wearables and Portable Electronics to Spur Sales in Asia Pacific
Rising prevalence of wearables and portable electronic devices is considered a leading driver of the portable battery-powered products market in Asia Pacific. Wireless earbuds, fitness trackers, smartwatches, tablets, and smartphones are anticipated to be in high demand by 2033 in India, China, and Japan.
As technology advances, consumers are set to expect these devices to be long-lasting, lightweight, and compact. Hence, renowned manufacturers in Asia Pacific are set to focus on meeting these needs by launching enhanced battery efficiency and technology. This trend is projected to move beyond personal and consumer electronics to include IoT devices, remote sensors, and medical devices.
For instance, Sony plans to increase the number of audio products it offers in India. It has begun extending invitations to the media for the release of its latest audio product. The business declared that it will introduce a fresh audio product in September 2023 under WF-1000XM5. Such innovations are projected to propel the portable battery-powered products market assessment.
Focus on Environmental Sustainability to Bolster Demand in Europe
Increasing focus on sustainability and rising environmental concerns are anticipated to push portable battery-powered product sales in Europe. As countries such as Germany, France, Italy, and the United Kingdom move toward cleaner energy sources to reduce their carbon footprint, batteries are set to create new opportunities.
They are expected to accelerate electric transportation and renewable energy storage. Consumers and government agencies across Europe will likely incentivize the use of electric vehicles (EVs) to reduce carbon emissions.
As per Eurostat, in the European Union in 2021, Germany had the most prominent fleet of electric passenger cars (6,18,460 units). In terms of the entire inventory of passenger cars, Norway had the most significant percentage of electric vehicles (15.5% in 2021).
A handful of companies are predicted to invest huge sums in renewable energy sources such as wind and solar to meet their sustainability goals. These developments are expected to require advanced energy storage solutions.
Batteries might support the inclination toward clean energy consumption and generation by offering solutions to store energy for a long period. Increasing demand for eco-friendly products and the rising need to move toward a clean future might expand the development of sustainable battery-powered products.
The global portable battery-powered products market is anticipated to exhibit a CAGR of 9.2% in the assessment period. It grew at a decent CAGR of 11.5% in the historical period between 2018 and 2022. The market for portable battery-powered products stood at a valuation of USD 1200.0 billion in 2022.
| Historical Portable Battery-powered Products Market CAGR (2018 to 2022) | 11.5% |
|---|---|
| Historical Portable Battery-powered Products Market Value (2022) | USD 1200.0 billion |
Skyrocketing demand for medical equipment is projected to positively affect the portable battery-powered products market in the forecast period. Increasing trend for remote patient monitoring and home healthcare is a leading factor pushing demand.
Healthcare providers and patients are estimated to increasingly depend on portable ventilators, pulse oximeters, blood glucose monitors, and other portable medical instruments powered by batteries. This quick shift is anticipated to be pushed by the need for accessible and convenient healthcare options.
Government agencies in both developed and developing nations are anticipated to launch portable battery-powered medical devices that meet the strict norms related to reliability. These help patients manage their health confidently from the comfort of their homes.
Ongoing development of telehealth and telemedicine services is another crucial factor augmenting the future of medical device power services. Such services require portable devices to transfer real-time patient data to healthcare professionals.
Demand for high-performance batteries might surge with the emergence of portable ultrasound machines and wearable ECG monitors. These products are expected to require uninterrupted data transmission and connectivity.
Rising geriatric population across the globe is also considered a significant factor propelling the need for portable medical devices. Continuous glucose monitors, insulin pumps, and portable nebulizers are often used to manage & monitor chronic conditions. These are expected to become a vital part of the healthcare industry to enhance the quality of life for older patients.
According to the United Nations, more people over 65 are being born worldwide than people of other age groups. In 2050, a sixth of individuals will be over 65 (16%), compared to one in eleven (9%) in 2019. One in four people in North America and Europe could be 65 or older by 2050.
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The table below explains the worldwide portable battery-powered products market demand of the top 5 countries. Regional forecast for the portable battery-powered products market by country states that the United States is anticipated to remain at the forefront by topping a size of USD 562.1 billion by 2033.
China might reach USD 483.1 billion in 2033 in the portable battery-powered products market. Japan is expected to follow the United States and China to create a moderate portable battery-powered product demand worth USD 296.5 billion.
| Countries | Market Value (2033) |
|---|---|
| United States | USD 562.1 billion |
| United Kingdom | USD 120.8 billion |
| China | USD 483.1 billion |
| Japan | USD 296.5 billion |
| South Korea | USD 199.9 billion |
The table below shows the growth potential of portable battery-powered products market. CAGRs of the top 5 countries are provided. Out of the 5, South Korea and the United Kingdom will likely remain in the leading positions in the portable battery-powered products market by exhibiting CAGRs of 10.3% and 10.0%, respectively, from 2023 to 2033. Followed by these, Japan and China are expected to witness portable battery-powered products sales at CAGRs of 9.8% and 9.6%, respectively.
| Countries | Value-based CAGR (2023 to 2033) |
|---|---|
| United States | 9.3% |
| United Kingdom | 10.0% |
| China | 9.6% |
| Japan | 9.8% |
| South Korea | 10.3% |
The United States portable battery-powered products market is projected to witness a CAGR of 9.3% in the assessment period. It is expected to reach USD 562.1 billion by 2033.
Portable battery-powered product demand is set to rise in the United States with growing popularity of cloud computing and e-commerce platforms. With the ongoing expansion of e-commerce in the country, modern consumers will likely utilize tablets and smartphones for online shopping.
Portable electronics often require long-lasting and durable batteries to provide uninterrupted communication, purchasing, and browsing. Demand for power banks and similar portable battery-powered products might surge to keep one’s smartphone charged at all times.
In June 2023, the Lightning connector-equipped Anker 621 Power Bank with a 12W power output was officially launched in the United States. For greater portability, the power bank has a collapsible embedded lightning connector. It can be utilized to recharge an assortment of devices and has a capacity of 5,000mAh.
The United Kingdom is likely to register a CAGR of 10.0% in the forecast period. It is estimated to generate a considerable portable battery-powered products market share in the same period. The country expanded at a CAGR of 12.8% in the historical period.
Increasing significance of data centers in the United Kingdom to deliver, manage, and store digital applications and data is anticipated to drive portable battery-powered product demand. As these data centers operate 24/7, they require uninterrupted cloud-based services.
They could be victims of data loss and expensive downtime due to power interruptions. To mitigate such risks, they are expected to adopt innovative backup power solutions, such as portable battery-powered products.
Data centers in the United Kingdom are projected to expand amid rising demand for cloud computing services continuously. Hence, demand for scalable and cutting-edge backup power solutions is anticipated to remain high through 2033.
They will likely deliver high reliability and energy storage to protect complex operations dependent on cloud computing solutions. Increasing need for continuous operations in data centers across the United Kingdom might propel demand.
China is expected to top a valuation of USD 483.1 billion in the evaluation period. The portable battery-powered products market will likely witness a CAGR of 9.6% from 2023 to 2033.
Growing demand for remote server maintenance in China is projected to bolster portable battery-powered product sales by 2033. It is set to become a mission-critical process in the age of data management and cloud computing.
It involves constantly repairing, upgrading, troubleshooting, and evaluating data centers & servers. These might also host several cloud-based applications and services. Popularity of portable battery-powered products is set to surge with the rising prominence of remote server maintenance in the digital realm.
Diagnostic tools, tablets, and laptops are set to be the most frequently used portable electronic devices among technicians dealing with remote server maintenance. These might be utilized to install updates, access server logs, and operate diagnostics. They are set to adopt portable battery-powered products, including ruggedized battery packs and laptop power banks for uninterrupted operation.
Japan is expected to showcase a CAGR of 9.8% in the anticipated time period from 2023 to 2033. It is set to reach a portable battery-powered products market revenue worth USD 296.5 billion by 2033.
Increasing popularity of wireless earbuds in Japan is expected to accelerate the portable battery-powered product demand. These products usually function wirelessly with the help of rechargeable batteries.
Requirement for a reliable and compact power source to offer hours of hands-free calling and continuous audio playback is expected to drive demand. High dependency on batteries is anticipated to propel sales of portable battery-powered products further. Charging cases and power banks are some of these products that might help extend their battery life.
In January 2023, for instance, OnePlus announced the launch of its new wireless earbuds, the OnePlus Buds Pro 2. It has Dynaudio, Dolby Atmos spatial audio, and enhanced noise-canceling features. According to OnePlus, the Buds Pro 2 has a 39-hour battery life when used with the charging case and no ANC.
South Korea is projected to top a valuation of about USD 199.9 billion by 2033 in the portable battery-powered products market. The country is expected to showcase a CAGR of 10.3% in the estimated period.
Rising popularity of tablets in South Korea is projected to boost the market for portable battery-powered products through 2033. These devices are often preferred for their convenience and portability, making them suitable for those who frequently travel.
Tablets are expected to be utilized in several settings, such as education, entertainment, and work. Their versatility is anticipated to push the demand for an extensive battery life. This high need will likely propel the demand for portable battery-powered products, including power banks, to charge these devices throughout the day.
Tablets are also considered a significant device for commuters and travelers. Whether daily train riders or long flights, these are extensively used for productivity and entertainment during transit. Ability of portable battery-powered products to provide an easy way to keep tablets charged throughout their journeys might push their application.
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The table below highlights the global demand for portable battery-powered products by rechargeable battery technologies. Under the rechargeable battery technologies, the nickel-cadmium segment, while smaller, is set to showcase a significant CAGR of 9.0% through 2033. The segments of nickel-metal hydride, lithium-ion, lithium-polymer, and specialty rechargeable batteries are expected to follow it.
| Category | Rechargeable Battery Technologies |
|---|---|
| Sub-category | Nickel-cadmium |
| Value-based CAGR (2023 to 2033) | 9.0% |
Regarding rechargeable battery technologies, the nickel-cadmium segment will likely witness a CAGR of 9.0% from 2023 to 2033. It expanded at an astonishing CAGR of 11.3% from 2018 to 2022 in the portable battery-powered products market.
Increasing reliability and robustness of nickel-cadmium batteries are expected to drive their use in complex applications. These batteries are resilient and highly durable, making them suitable for rapid discharge & charge cycles, deep discharges, and extreme temperatures. This robustness is expected to expand their demand in backup power systems, defense, and aviation applications.
Increasing environmental concerns are another critical factor pushing demand for nickel-cadmium batteries. Compared to lithium-ion batteries, nickel-cadmium battery technology is less environmentally friendly. However, they are relatively easier to dispose of safely and recycle.
Cadmium can be reused and recovered efficiently, making the recycling process smooth. Companies prioritizing responsible recycling and disposal are anticipated to demand nickel-cadmium batteries to meet sustainability goals. Demand for battery-powered portable power stations equipped with nickel-cadmium will likely be an alternative technology to other disposable batteries.
The table below highlights the global demand for portable battery-powered products by single-use batteries. Under single-use batteries, the alkaline and zinc-carbon segment, while smaller, is set to showcase a significant CAGR of 8.9% through 2033. The lithium (primary) and other primary battery segments are expected to follow it.
| Category | Single-use Batteries |
|---|---|
| Sub-category | Alkaline and Zinc-Carbon |
| Value-based CAGR (2023 to 2033) | 8.9% |
Based on single-use batteries, the alkaline and zinc-carbon segment is projected to record a CAGR of 8.9% in the evaluation period. It grew at a comparatively higher CAGR of 11.1% from 2018 to 2022 in the portable battery-powered products market.
Increasing demand for consumer electronics such as household gadgets, wall clocks, and remote controls is anticipated to propel the sales of alkaline and zinc-carbon batteries. Their longer shelf life, cost-effectiveness, and simplicity make them ideal for consumer electronics.
The need for alkaline and zinc-carbon batteries may rise across niche areas with limited availability of expensive and unique batteries, including lithium-ion. Alkaline and zinc-carbon batteries are anticipated to provide an accessible and cost-effective power source for various electronic devices. Surging consumerism and rapid economic growth in emerging countries are projected to boost sales of alkaline and zinc-carbon batteries.
In low-temperature applications, alkaline and zinc-carbon batteries are projected to be extensively used. These are anticipated to be well-suited for winter sports, hiking, camping, and other outdoor activities.
They are set to perform better in sub-zero conditions than other available batteries. Rising popularity of adventure and outdoor sports globally is set to push manufacturers toward portable electronic equipment that can easily operate in harsh conditions. Hence, demand for alkaline and zinc-carbon batteries is anticipated to expand worldwide
Key portable battery-powered product manufacturers focus on creating more efficient battery charging solutions to compete with their rivals. They strive to refine energy density, lower charging times, and enhance battery life. The emergence of solid-state batteries helps them compete as these offer greater energy storage capacity and safety.
Several portable battery-powered products with smart connectivity and similar features are expected to launch. Key companies in the portable battery-powered products market are set to introduce new smartphone applications to control and monitor their products. They are also introducing features that can help connect their devices with other platforms.
| Attribute | Details |
|---|---|
| Estimated Portable Battery-powered Products Market Size (2023) | USD 1334.4 billion |
| Projected Portable Battery-powered Products Market Valuation (2033) | USD 3210.0 billion |
| Value-based Portable Battery-powered Products Market CAGR (2023 to 2033) | 9.2% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD billion) |
| Segments Covered in Portable Battery-powered Products Market Study | Rechargeable Battery Technologies, Single-use Batteries, Region |
| Regions Covered in Portable Battery-powered Products Market Report | North America; Latin America; East Asia; South Asia Pacific; Western Europe; Eastern Europe; Middle East & Africa |
| Key Countries Covered in Worldwide Portable Battery-powered Products Market | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, GCC Countries, India, China, Japan and Australia |
| Portable Battery-powered Products Market Top Players | Acer, Inc.; Anker; Apple, Inc.; ASUSTeK Computer, Inc.; AVK Industrial Products; Beijing Xiaomi Technology Co., Ltd |
The portable battery-powered products market might top USD 3210.0 billion by 2033.
Acer, Inc., Anker, and Apple, Inc. are the leading manufacturers.
The portable battery-powered products market might witness a 9.2% CAGR from 2023 to 2033.
Demand for wearables and portable electronics is a key trend in the market.
Nickel-cadmium technology is expected to showcase a CAGR of 9.0% from 2023 to 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Rechargeable Battery Technologies 5.1. Nickel-Cadmium 5.2. Nickel-Metal Hydride 5.3. Lithium-Ion 5.4. Lithium-Polymer 5.5. Specialty Rechargeable Batteries 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Single-use Batteries 6.1. Alkaline and Zinc-carbon 6.2. Lithium (Primary) 6.3. Other Primary Batteries 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Acer Inc. 17.2. Anker 17.3. Apple Inc. 17.4. ASUSTeK Computer Inc. 17.5. AVK Industrial Products 17.6. Beijing Xiaomi Technology Co. Ltd 17.7. Bell+Howell Products 17.8. Bestek Group Ltd. 17.9. Brinno Inc. 17.10. C. & E. Fein GmbH 18. Assumptions & Acronyms Used 19. Research Methodology
Consumer Product
September 2023
REP-GB-14205
333 pages
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Portable Battery-powered Products Market
