The Portable Battery Market Size was valued at USD 14.15 Billion in 2022. The Portable Battery industry is projected to grow from USD 15.82 Billion in 2023 to USD 27.54 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.68% during the forecast period (2024 - 2032). An electrical battery that may be charged and discharged into a load is called a portable battery. Numerous end users, including the electrical sector and the automobile industry, are suitable for portable batteries. During the projected period, an increase in infrastructure development activities across emerging nations like India is anticipated to fuel market growth. Additionally, the market for portable batteries is expanding due to the rapid rise in global warming and the expansion of government laws that are supportive of electric vehicles. To power equipment in emergencies, portable batteries are linked in parallel to create energy storage systems with battery management software.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Advancements in technology
Portable batteries, also known as power banks, allow users to charge their devices while away from a power source, providing a convenient and reliable source of power. This is particularly important for people who are frequently on the go, such as travelers, commuters, and outdoor enthusiasts. The advancements in technology have led to the development of more efficient and compact portable batteries, making them easier to carry and more effective at charging electronic devices. This has increased the appeal of portable batteries to a wider range of consumers, further driving demand for these products.
The market segmentation, based on Technology, includes Lead Acid, Nickel Metal Hydride, Lithium-ion Polymer, Nickel Cadmium, and Others. The Lithium-ion Polymer segment holds the majority share in 2022, contributing to the global Portable Battery revenue. Due to the quick growth of technology and innovation, the use of portable batteries has increased. The market is growing owing to the quick invention and development of portable consumer electronics technologies as favorable government regulations for the adoption of electric cars in both developed and developing nations.
Based on Wattage, the market segmentation includes 0-3,000mAh, 3,100-5,000mAh, 5,100-10,000mAh, Other. The 3,100-5,000mAh segment dominated the market. Rapid technological advancement and innovation have increased the use of portable batteries across many industries. Additionally, the growth of border conflicts and terrorist operations throughout the globe has sparked the creation of surveillance robots and drones with modest payloads.
Based on Application, the market segmentation includes Smartphones, Tablets, Automotive, and Others. The smartphone segment is the largest segment of the market. As smartphones are being used more and more in current culture. Additionally, the increased functionality of smartphones placed significant stress on their hardware and batteries, which prompted many electrical and battery industry titans to spend to solve some issues.
Figure 2: Portable Battery Market, by Application, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region leads the global market for portable batteries. Due to the presence of growing nations such as China and India. An additional important aspect driving the industry is the enormous population. Market expansion is being fueled by recent government investments made by India in a lithium-ion battery production facility in Gujarat and a rise in demand for portable electronic devices in the nation as a result of the availability of surplus money. The expansion of the market has also been positively impacted by rising healthcare awareness among consumers as well as increased usage and benefits of portable medical equipment during the pandemic.
Figure 3: Portable Battery Market SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Portable Battery industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Portable Battery industry to benefit customers and expand the market sector. Major market players, including Sony Corporation, Acer Inc, Sharp Electronics Corporation, Casio Computer Co Ltd, Seiko Holdings Corporation, and others, are attempting to increase market demand by funding R&D initiatives.
Sony is a firm that creates, designs, manufactures, and markets electronic tools, gadgets, and equipment for consumer, business, and industrial industries such as video gaming hardware and software. Additionally, it produces and acquires image-based software, including movies, home entertainment, and television goods, as well as develops, produces, markets distributes, and broadcasts recorded music. Additionally, Sony offers financial services, such as operations for life and non-life insurance. In addition, the corporation has network services and advertising operations.
Acer is a provider of hardware, software, and services to consumers and companies in the information and communications technology sector. The company is involved in the research, design, marketing, sales, and support of a variety of products and services, including servers, cloud services, e-business services, commercial solutions, digital signage solutions, beverages, smart cities, and medical AI. Other products and services include gaming and esports platforms, gadgets, servers, and servers. Some of its well-known brands are PLANET9, ConceptD, Predator, and Acer.
Acer Inc
Alcatel-Lucent
Dell Inc
Siemens
Nikon Corporation
Advanced Battery Systems Inc
Sharp Electronics Corporation
Casio Computer Co.Ltd
Seiko Holdings Corporation
February 2024: Sony India introduced the SRS-XV500, a fresh new portable party speaker that boasts powerful sound output, built-in lighting, and long-lasting battery life – thus extending its lineup within India. The SRS-XV500 allows you to plug in a karaoke mic so you can sing all night with it. These speakers are an IPX4-certified device made to withstand water spills and also have USB connectivity for plug-and-play features. The Sony SRS-XP500 is designed to deliver a great audio experience along with versatile features suitable for parties or daily use; it offers portability, durability, and high-quality sound performance. Pricing at Rs 31,990 in the Indian market alone, where this product is available only now till then everywhere else, will take some time before becoming widely accessible, so if anyone wants one, they should get their hands on it soon enough!
December 2023: Atlas Copco – one of the industrial sector giants – released what has been coined as ‘B-Air’: the world’s first-ever battery-driven portable screw air compressor, thus keying into a greener future for global industries. Also, by introducing B-Air 185-12, which is a battery-driven portable screw air compressor, into its range of electric-powered portables, Atlas Copco has increased its offerings under this category while setting another record as a pioneer in making such machines available anywhere around the world thereby marking yet another milestone towards sustainability within industrialization sector.
January 2023: the AlphaTheta (think Pioneer DJ) launched a brand-new OMNIS-DUO. Also, another entrant enters what had previously been an empty space for fully battery-operated DJ booths like Denon DJ Prime Go or Numark Mixstream Pro. This much-leaked device will be the first-ever DJ product carrying an AlphaTheta logo and wordmark on it. Can’t say we weren’t warned either – diligent internet sleuths spotted OMNIS DUO on Suat’s livestream as he cavorted around Venice Beach. That was a pretty good tell of the type of product we’d be getting: a party in a box designed to take parties anywhere you want.
October 2022: Siemens and Automotive Cells Company (ACC) have joined forces in a new strategic relationship after signing a Memorandum of Understanding. According to the deal, Siemens will take over as ACC's top automation, digitalization, and electrification technology supplier. This will allow ACC to build up its production while increasing plant and energy efficiency.
Lead Acid
Nickel Metal Hydride
Lithium-ion Polymer
Nickel Cadmium
Others
0-3,000mAh
3,100-5,000mAh
5,100-10,000mAh
Other
Smartphones
Tablets
Automotive
Others
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 14.15 Billion |
| Market Size 2023 | USD 15.82 Billion |
| Market Size 2032 | USD 27.54 Billion |
| Compound Annual Growth Rate (CAGR) | 8.68% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2022 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Battery Capacity, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Sony Corporation, Acer Inc, Alcatel-Lucent, Dell Inc, Siemens, Nikon Corporation, Advanced Battery Systems Inc, Sharp Electronics Corporation, Casio Computer Co.Ltd, Seiko Holdings Corporation |
| Key Market Opportunities | Advacement in technology |
| Key Market Dynamics | Increasing usage of cell devices The rising demand for electronic gadgets |
Portable Battery Market Highlights:
Frequently Asked Questions (FAQ) :
The Portable Battery Market size was valued at USD 14.15 Billion in 2022.
The global market is projected to grow at a CAGR of 8.68% during the forecast period, 2024-2032.
Asia Pacific had the largest share of the Portable Battery Market.
The key players in the market are Sony Corporation, Acer Inc, Alcatel-Lucent, Dell Inc, Siemens, Nikon Corporation, Advanced Battery Systems Inc, Sharp Electronics Corporation, Casio Computer Co.Ltd, and Seiko Holdings Corporation.
The 3,100-5,000mAh category dominated the market in 2022.
The Smartphones segment had the largest share in the global market for Portable batteries.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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