Portable Battery Pack: Increasing Demand Consumer Electronics - Market to Reach Over USD 24.9 Billion in 2028

Vantage Market Research

Jan 11, 2022

Rising Demand from Consumer Electronics Sector and Demand of Portable Battery Pack in a Variety of Application to Thrive Market!

During last few years there is significant increase in the demand for the Portable Battery Pack across the globe. In the last 10 years, there has been a huge spike in demand for Portable Battery Pack. This surge is due to an increase of connected batteries and as they have evolved from niche product into mass market products.

Year-over-year growth in the demand for toys and consumer goods across the globe is escalating the demand for Portable Battery Packs. For instance, according to the NPD Group, Inc., Canada’s toy sales observed 3% growth in 2017 as compared to 2016, due to the increasing popularity of toys among children. The adoption of portable consumer goods such as portable radios, flashlights, and others has increased in the last few years, which in turn is expected to boost the portable battery market in the near future.

Many government organization are supporting the manufacturers which has created the opportunity for the growth of the market. Many countries are significantly investing in the development of a clean, low-cost and environment-friendly production process for lithium-ion batteries. The development and commercialization of advanced lithium-ion battery technologies and battery materials for HEV/EV and portable electronics are expected to create an inflow of new opportunities for market growth in the next few years.

What Will Be The Market By 2028?

Our report on Portable Battery Pack market has covered the study of latest development and investment in the market. In addition, report covers the value chain analysis, regulatory analysis, market attractiveness analysis, and Porter’s five forces analysis, for Portable Battery Pack market.

Additionally, our report includes market drivers, restraints and opportunities along with COVID-19 impact analysis, historical & descriptive analysis, and forecasts & predictive analysis. The global Portable Battery Pack market is expected to reach over USD 24.9 Billion in 2028 at CAGR of 10.5%.

Some of key players in Portable Battery Pack market include Energizer Holding Inc. (U.S), BYD Battery Co. Ltd (China), LG Chem Power Inc. (South Korea), Panasonic Corporation (Japan), Mophie Inc. (U.S), Simplo Technology Co. Ltd. (Taiwan), Samsung SDI Co. Ltd. (South Korea), and Sony Corporation (Japan)..

Asia Pacific is estimated to dominate the portable battery pack market over the forecast period of 2022-2028. The existence of countries such as India and China which are most populated countries in the world is providing vast base population of Portable Battery Pack consumers. Thus, owing to the large base of population presence in this region, the demand for Portable Battery Pack is increasing and further expected to grow the market over the forecast period.