(I-BusinessNews.Com, July 31, 2021 ) The Portable Battery Pack Market is forecast to reach $18.9 billion by 2026, growing at a CAGR of 13.6% from 2021 to 2026. Portable battery packs are a form of mobile power supply that provides convenient mobile charging for smartphones, phablets, tablets and other 3C accessories. Portable battery packs are comprised of special battery with circuit to control power flow. It stores electrical energy and allows one to use it to charge mobile devices and other accessories. Depending on the capacity of the power bank and its current charge level it can take quite a while to fill up. The Li-ion and lithium polymer batteries have superior energy density than traditional battery technologies like nickel-cadmium and nickel metal hydride. The three things that are considered while designing portable battery pack are system safety, fuel-gauging accuracy and battery charging.
Portable Battery Pack Market Segment Analysis – By Battery Type
There are several types of batteries they are lithium-ion, lithium-polymer and nickel cadmium. Lithium-ion cells are usually in uniform size and battery holds an average of 2200~2600mAh and are mainly manufactured in Japan, Korea and China. Li-ion cells have high energy densities and costs less than Li-polymer due to cheaper and quicker production methods. On the other hand Li-polymer batteries are robust and flexible when it comes to size and shape. They are also lightweight and have a lower chance of leaking electrolyte. The difference between both batteries is type of electrolytes. A Li-ion battery is a liquid electrolyte and Li-polymer batteries have semi solid electrolyte.
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Portable Battery Pack Market Segment Analysis – By End User
Electronic devices like smart phones, tablets and portable media players are the end-users of portable battery packs. Smartphones dominate the market and are projected to grow at a fast rate of 16.1% through 2026. Smartphones and laptops are equipped with inbuilt batteries which stores battery for short period of time. These devices also use data and internet services for long time which tend to drain the battery of smartphones rapidly. This has created a huge demand for power banks to keep smartphones running for a longer duration.
Portable Battery Pack Market Segment Analysis Ã‚Â– By Geography
Asia-Pacific is expected to dominate the global portable battery pack market with a share of 36.2% in 2020. It is because of large consumption of mobile phones and other portable devices. The emerging economies in this region such as India, China, Vietnam and Myanmar are putting efforts to expand and modernize the wireless devices services. Countries like Japan, Malaysia and Australia are growing to develop new battery designs and are expected to play a major role in the market expansion in Asia-Pacific.
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Portable Battery Pack Market Drivers
Increasing demand for portable battery with long battery backup
One of the driving factors increasing the demand for portable battery pack market is high demand for batteries which have long battery backup. Portable batteries are handy and can be carried from one place to another. Due to heavy usage of smartphones and laptops while travelling will drain the battery rapidly this in turn creates the demand for portable batteries which gives long battery life than short battery life. It depends on the milliampere-hour (mAh) or capacity of the battery. 10000 Ã‚Â– 15000 mAh segment of portable battery packs are expected to grow at the highest rate during the forecast period.
Increasing demand for smartphones and tablets
There has been a drastic demand for smart phones in the past few years and there will be more in the next few years. Mobile phones and laptops are extremely important these days and people are heavily dependent on these gadgets for almost every single thing we do. People often encounter low battery signals while on a bus or public transport where there is no charging points available. At times power cuts lead to dead phones and there wonÃ‚Â’t be outlets to charge them in. Portable battery packs helps them charge as soon as the mobile run out of battery. In this way increase in smartphones and laptops is directly proportional to increase in demand of portable batteries.
Portable Battery Pack Market Challenges
Highly competitive market
Portable batteries manufacturers face a huge competition within the market due to large number of manufacturers in the market. Each manufacturer in market comes with different range of portable batteries with a variety of features according to customer needs. This makes any new entrant difficult to survive unless it comes with updated portable battery technology. Existing manufacturers in the market always look for bringing new technologies to gain the advantage of other competitors. Thus, makes the existing and new entrants extremely competitive and challenging.
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the portable battery pack market. The portable battery pack market is dominated by major companies such BYD Company Limited, Energizer Holdings Inc., Mophie Inc., Simplo Technology Co. Ltd, Sony Corporation, Panasonic Corporation, Anker Technology Co. Ltd, CHEERO USA INC., Nikon Corporation, Braven LC-INCIPIO Technologies.
In August 2020, Anker has launched the Powercore Play 6700, a portable battery bank designed for gaming on smartphones. The play 6700 packs a 6,700mAh Lithium Polymer battery. It comes with both a 15W USB-A and USB-C port for more compatibility between smartphones.
The demand for portable battery pack is high in the next few years due to rise in use of mobile phones, tablets and wearable devices.
Portable battery packs are for multipurpose, small in size, safe, reliable and long in life.
Three things that are considered while designing portable battery pack are system safety, fuel-gauging accuracy, and battery charging.
North-America is one of the fastest growing markets in portable battery pack due to increasing demand for high capacity range devices in this region.
Related Reports :
A. Portable Power Devices Market
B. Battery Energy Storage System Market
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