Press release
Spotlight on Mobile Battery Market Insights 2024
Spotlight on Mobile Battery Market
The mobile battery market size is expected to see strong growth in the next few years. It will grow to $30.5 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, evolving consumer preferences and growing research and development (r&d) activities. Major trends in the forecast period include focus on fast charging technologies, technological advancements to aid in development of new products, focus on graphene powered battery for high electrical conductivity and durability and adoption of solid-state batteries as a safer option.
Market Overview -
The mobile battery refers to batteries that are rechargeable and that allow the use of the phone at any location and at any time. The battery is revitalized using a charger designed specifically for the phone and battery. It is usually necessary to plug in a charger to a power source, such as an electrical outlet to recharge the battery.
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Global Smartphone Demand Fuels Expansion In The Mobile Battery Market
The rise in the demand for smart phones all over the world is driving the growth of the market. Mobile battery products demand only depends on the sales of the mobile phones as mobile phones are chargeable and need batteries in them. According to TechRadar, an online publication focused on technology, in 2021, the global Smartphone sales for the world's five largest manufacturers increased, with Samsung adding 7.6% to 272 million units - or 19% of the market and Apple devices sold increased by 19.7% to 239 million, and the company grew by 16.7% in terms of its market share. Xiaomi, Oppo, and Vivo all saw their shipments rise by roughly one-third. Therefore, the rising penetration of smart phones is driving the growth of the mobile battery market.
Competitive Landscape -
Major companies operating in the mobile battery market report are LG Chem, SK Innovation, Samsung SDI Co. Ltd, BYD Company Ltd, Sunwoda Electronic Co. Ltd, Panasonic Corporation, Zhuhai CosMX Battery Co. Ltd., Contemporary Technology Limited, Murata Manufacturing Co. Ltd., TWS, DESAY Battery Co. Ltd., Technology Limited (ATL), China BAK Battery, Exide Industries Limited, HBL Power Systems Limited, Samwha Capacitor Group, Hello Bom, BSLBATT, Amron Batteries, Varta AG, Saft Groupe S.A., Leclanché, BMZ Group, Accutronics Ltd, Northvolt, SibPribor, Kursk Battery Plant, RUSNANO Group, Zavod AIT LLC, American Crane & Equipment Corp, Scott's Emergency Lighting and Power Generation, Dantona Industries Inc, Tenergy Corporation, Motion Industries Inc., Hollingsworth & Vose Co, EnerSys, Energizer Holdings Inc, Eveready Batteries, Duracell Inc, Acumuladores Moura S. A, Sertrading (Br) Ltda, Flextronics International Tecnologia Ltda, Clarion Energy Solutions Brasil Ltda, Industrias Tudor Sp De Bateriais Ltda, Abu Abdul Hakim Automotive Parts Est, Precision Electro Mech Est, AASP General Trading, Abbas Liaqat Trading LLC, Agetco General Trading LLC, First National Battery.
Mobile Battery Market Driven By Cutting-Edge Technological Advancements
Technological advancement is a key trend gaining popularity in the mobile batter market. Many Battery research companies are updating the newest technologies in the world to offer enhanced products to their users. In 2021, Xiaomi has developed a new battery technology for smart phones that could prepare OEMs to abandon the age-old lithium-ion technology currently used in smart phones. In terms of selling points, the company appears to be promoting its new High-Silicon Lithium battery technology, which offers a 10% increase in battery capacity at the same volume. Xiaomi claims that its negative electrodes now contain 300% more silicon. In addition to an in-house chip and advanced algorithms, battery performance should be enhanced greatly. Moreover, the company confirmed that mass production of the new high-silicon lithium batteries is scheduled for H2 2022.
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Key Segments -
The mobile battery market covered in this report is segmented -
1) By Type: Lithium Ion, Lithium Polymer, Nickel Cadmium, Nickel Metal Hydride, Other Types
2) By Sales Channel: Online, Offline
3) By Industry: Smartphone, Non-Smartphone
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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