The Global Mobile Battery Market Is Expected To Reach $29.9 Billion In 2027, Fueled By Advancements In Fast Charging Technology - By The Business Research Company

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, Oct. 5, 2023 /PRNewswire/ -- As per The Business Research Company's Mobile Battery Global Market Report 2023, the global mobile battery market has experienced robust growth, with the market size expanding from $21.61 billion in 2022 to $23.05 billion in 2023, reflecting a compound annual growth rate (CAGR) of 6.7%. This growth trajectory is projected to continue, with the mobile battery market size expected to reach $29.9 billion in 2027 at a CAGR of 6.7%, driven by government support, population growth, urbanization, evolving consumer preferences, and increased research and development (R&D) activities.

Driving Force: Market Growth Factors

Several key factors are fueling the growth of the global mobile battery market. These include government support, population growth, urbanization, evolving consumer preferences, and growing R&D activities. The confluence of these factors is driving the expansion of the market, with significant growth anticipated in the coming years.

Learn More On The Mobile Battery Market Report – https://www.thebusinessresearchcompany.com/report/mobile-battery-global-market-report

Competitive Landscape

The global mobile battery market is characterized by fragmentation, with a multitude of players operating in the industry. In 2022, the top ten competitors collectively accounted for 12.79% of the total market share. LG Chem led the mobile battery market as the largest competitor, holding a 2.66% share, followed by SK Innovation, Samsung SDI Co. Ltd, BYD Company Ltd., Sunwoda Electronic Co. Ltd., Panasonic Corporation, Zhuhai CosMX Battery Co. Ltd., Contemporary Amperex Technology Limited, Murata Manufacturing Co. Ltd., and TWS.

Key Trend: Fast Charging Technologies

Fast charging technology has emerged as a prominent trend in the mobile battery market. This technology enables users to rapidly recharge their devices with remarkable efficiency. Major companies in the market are actively engaged in the development of batteries equipped with fast charging technology. For example, in December 2021, Samsung SDI, a South Korea-based battery and electronic materials manufacturer, introduced PRiMX, a new battery brand featuring super-fast charging technology. PRiMX batteries minimize lithium-ion transport distance and time by reducing internal battery cell resistance. They hold immense potential for various applications, including electric vehicles, mobile devices, energy storage systems, and wearable technology.

Request A Free Sample Of The Mobile Battery Market Report – https://www.thebusinessresearchcompany.com/sample_request?id=6424&type=smp 

Market Segmentation

The global mobile battery market is segmented based on:

1. Type: Lithium Ion, Lithium Polymer, Nickel Cadmium, Nickel Metal Hydride, and Other Types.
2. Sales Channel: Online and Offline.
3. Industry: Smartphone and Non-smartphone.

Top Opportunities: Smartphone Segment

The smartphone segment presents significant growth opportunities, with projections indicating an increase of $6,046.5 million in global annual sales by 2027.

Market Growth Leader: The USA

The United States is expected to lead the mobile battery market in terms of growth, with an anticipated gain of $1,616.1 million in mobile battery market size.

View More Similar Market Reports:

Battery Recycling Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/battery-recycling-global-market-report

Battery Separators Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/battery-separators-global-market-report

Battery Energy Storage System Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/battery-energy-storage-system-global-market-report

Interested to know more about The Business Research Company?

The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

The World's Most Comprehensive Database

The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users make better strategic decisions.

Contact Information

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 8897263534

Americas: +1 315 623 0293

Email: [email protected]

Follow Us On:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

Twitter: https://twitter.com/tbrc_info

Facebook: https://www.facebook.com/TheBusinessResearchCompany

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Blog: https://blog.tbrc.info/

Healthcare Blog: https://healthcareresearchreports.com/

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Logo - https://mma.prnewswire.com/media/1751581/tbrc_logo.jpg

SOURCE The Business Research Company