The global battery pack market size is expected to reach USD 132.68 billion by 2028 at a CAGR of 17.9%, according to a new report by Emergen Research. Growth in market revenue is primarily attributed to increasing applications of battery packs in consumer electronic devices such as mobile phones and laptops, power tools, and electric vehicles. Increasing use of mobile devices such as smartphones, laptops, and tablets, growing use of cordless and portable electronic equipment, surging need for extended battery life are some of the major factors driving the growth of the global battery pack market.
Our experienced market research team has provided updated information on the ongoing COVID-19 pandemic and its adverse economic impact in the latter segment of the report. The coronavirus outbreak has led to drastic changes in the current Battery Pack business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the Battery Pack market growth assessed on both regional and global levels.
Market Size – USD 35.30 Billion in 2020, Market Growth - CAGR of 17.9%, Market Trends – Increasing use of high-performance battery packs in the automotive and manufacturing sectors
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Scope of The Report
The Battery Pack market is further segmented in terms of applications, end-user, end-use, geographic presence, by-products as well as services. In addition, the subject matter experts evaluating the industry provide an all-inclusive category-specific industry outlook. A comprehensive collection of data on major companies occupying a strong foothold in the industry adds immense value to the overall research. The assessment of the wining strategies followed by these companies can help business owners not only strategize but also execute business operations by referring the statistics about competitor analysis. Careful assessment of the industry analysis across different regions along with vital information on the market size, share and growth rate makes this report a wonderful resource for business evangelists.
Global Battery Pack market competition by TOP MANUFACTURERS, with production, price, and revenue (value) and market share for each manufacturer; the top players including:
- Epec LLC, Cadex, Steatite, Excell Battery, ProTechnologies, Energizer Holding Inc., Mophie Inc., BYD Battery Co. Ltd, LG Chem Power Inc., Panasonic Corporation, Simplo Technology Co. Ltd., Sony Corporation, and Samsung SDI Co. Ltd. are among the leading market players.
For the purpose of this report, the global battery pack market is segmented on the basis of product type, battery type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Laptop battery pack
- Power battery pack
- Phone battery pack
Battery Type Outlook (Revenue, USD Billion; 2018-2028)
- Lithium-ion battery
- Nickel metal hydride battery
- Lithium-polymer battery
- Nickel cadmium battery
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Consumer electronics
- Power tools
Regional Analysis of the Market:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Some Key Highlights of the Report:
- Based on product type, the phone battery packs segment is expected to register the highest growth in revenue over the forecast period. Growth of this segment is spurred by growing use of smartphones worldwide and increasing need for longer power backup for smartphones and other mobile devices.
- Based on battery type, the Li-ion battery segment accounted for the highest revenue share in 2020. Growing use of Li-ion batteries in battery packs due to advantages such as high energy density, enhanced voltage capacity, and lower self-discharge rate compared to other battery types is one of the primary factors bolstering this segment’s growth.
- In terms of end-use, the medical segment is projected to register the fastest revenue growth rate during the forecast period, owing to several favorable factors. Surging need for high-performance battery packs for a wide range of medical devices and equipment and growing use of wearable medical devices or gadgets such as fitness bands and hearing aids have led to a higher demand for the product.
- Among regional markets, North America emerged as the largest contributor to the global market revenue growth in 2020. The region’s thriving consumer electronics industry, increasing adoption of electric vehicles, and emergence of advanced battery technologies are the key drivers for the North America market growth.
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The Battery Pack Market report also includes an investment analysis and growth trend analysis to help readers maximize their return on investment. It highlights the growth opportunities existing in the global Battery Pack market segments. It offers an extensive investigation of the import-export status and the rates of production and consumption. The Battery Pack Market report also provides some of the essential market aspects to draw a forecast for the coming years based on the information derived as part of the historical analysis and an analysis of the current market scenario.
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