The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The portable battery market has seen notable growth, expanding from $13.13 billion in 2023 to $14.28 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.7%. This historical growth is driven by factors such as the rising popularity of electric vehicles (EVs), increasing standards for portable batteries, a surge in initiatives and research activities, growing demand for high-fidelity (Hi-Fi) systems, and the expansion of audiophiles. The market is expected to continue its strong growth, reaching $20.19 billion by 2028 with a CAGR of 9.1%. Future growth is supported by increasing awareness of environmental and eco-friendly products, a growing preference for portable battery packs for EVs, rising demand for portable electronics, and investments in small-scale renewable energy sources. Major trends in the forecast period include the adoption of electric vehicles, technological advancements, the development of smart grid technologies, the rise of wireless charging technology, and upgrades in sound technology.

The increasing demand for consumer electronics is expected to propel the growth of the portable battery market going forward. Consumer electronics refer to devices designed for everyday use, including entertainment, communication, and personal productivity. The surge in demand is driven by modern lifestyles, advancements in battery technology, wireless connectivity, and the rise of remote work and online education. Portable batteries are crucial for enhancing the functionality, convenience, and reliability of these electronics by providing essential power support for mobility and extended use. For example, in January 2023, LG Corporation reported an annual revenue increase of 12.9%, reaching $52.70 billion in 2022, up from $22.5 billion in 2020. Therefore, the growing demand for consumer electronics is boosting the portable battery market.

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What Are The Key Trends That Influence Portable Battery Market Share Analysis?

Major companies operating in the portable battery market are developing innovative technology, such as liquid-cooled technology, to enhance performance, extend battery life, and improve overall efficiency. Liquid-cooled technology involves using a liquid to control the temperature of electronic parts, improving their efficiency and lifespan by avoiding overheating. For instance, in April 2024, Bounce Infinity, an India-based motor vehicle manufacturing company, launched a portable liquid-cooled battery. It is utilized for its E1 electric scooter. This innovation enhances the scooter’s range from 85 km to 112-120 km and boosts battery capacity from 1.9 kWh to 2.5 kWh. Unlike conventional air-cooled batteries, the new liquid-cooled batteries use a fire-retardant liquid to absorb heat from the battery and transfer it to external metal components. This design enables efficient cooling through exposure to ambient air, effectively minimizing the risk of overheating—a frequent problem in high-performance electric vehicles (EVs).

Which Market Players Are Driving Growth In The Portable Battery Market?

Major companies operating in the portable battery market are Samsung Group, Tesla Inc., Sony Group Corporation, BYD Company Limited, Panasonic Corporation, LG Chem Ltd., Southwest Electronic Energy Group, Liebherr Group, EVE Energy Co. Ltd., Energizer Battery Inc., Exide Industries Ltd., Camel Group Co. Ltd., GP Batteries Intl., Amara Raja Batteries Ltd., Duracell Batteries Ltd., A123 Systems LLC, Shenzhen BAK Battery Co. Ltd., Guangdong Dynavolt Power Technology Co. Ltd., Rayovac Corporation, E-One Moli Energy Corp., Nbcell Battery

How Is The Global Portable Battery Market Segmented?

1) By Type: Lead Acid Battery; Lithium-Ion Battery; Nickel Cadmium Battery; Nickel Metal Battery; Other Types
2) By Battery Capacity: 0-3,000 Milliampere-Hour (mAh); 3,100-5,000 Milliampere-Hour (mAh); 5,100-10,000 Milliampere-Hour (mAh); Other Battery Capacities
3) By Application: Smartphones; Tablets; Automotive Application; Other Applications

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The Portable Battery Global Market Report 2024 provides an overview of the portable batterymarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The portable battery market forecast analyzes portable battery market size, portable battery market share, leading competitor and their market positions.

The Table Of Content For The Portable Battery Market Include

1. Portable Battery Market Executive Summary
2. Portable Battery Market Segments
3. Portable Battery Market Size And Template Market Growth Rate
4.  Key Portable Battery Market Trends
5. Major Portable Battery Market Drivers
……
25. Key Mergers And Acquisitions In The Portable Battery Market
26. Top Portable Battery Companies
27. Portable Battery Market Opportunities And Strategies
28. Portable Battery Market, Conclusions And Recommendations
29. Appendix

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