Portable Battery Pack Market Projected to Reach $10.94 Billion by 2020 - New Report by MarketsandMarkets
(PRWEB) September 20, 2014 -- According to a new market research report “Portable Battery Pack Market by Capacity Range, Product Type (Smartphone, Tablet, Portable Devices and Others), Technology (Li-ion, Nickel Metal Hydride, Li-Polymer, and Nickel Cadmium) & Geography – Global Forecast to 2014 - 2020", published by MarketsandMarkets, the global portable battery pack market is expected to reach $10.94 Billion in 2020 at a CAGR of 17.53% from 2014 to 2020.
Browse 49 market tables and 42 figures spread through 215 pages on "Portable Battery Pack Market.”
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The major use of portable batteries in the consumer electronics sector is found in the mobiles, tablets, notebooks, and other smart devices. The increase in the number of smart devices, high capacity requirement of electronic devices, and evolution of different battery technologies are driving the global portable battery market. The growing demand of portable battery packs in a variety of industrial segments such as communication, computer, medical and military, advancements in battery technologies and different applications ranging from power tools to small electronic devices are creating new opportunities for the portable battery pack manufacturers.
The overall 'Portable Battery Pack Market' in this report is segmented by capacity range, product type, technology, and geography. All the major segments are further segmented into sub segments. According to the forecast & analysis ’The Global Portable Battery Pack Market‘ is expected to reach up to 10.94 billion by 2020, at an estimated CAGR of 17.53% from 2014 to 2020.
Major improvements in the battery technologies and innovation of completely new battery chemistries are transforming the ways in the portable electronic battery market, from Smartphone to power tools. In particular, lithium-ion portable batteries, commonly used today in Smartphone and tablets, are moving beyond consumer electronics to virtually dominate all the portable power applications. Of all the application sectors, one of the prominent fields that hold a promising future for the portable battery pack market is the ‘consumer electronics ‘sector where the need for portable battery pack is evolving and progressively growing. Emerging economies such as India and China have shown significant increase in the demand for portable battery pack due to the fast growth in communication and adoption of consumer electronic devices in these regions. Apart from this, the other application areas of portable battery packs are computers, wearable electronics, portable medical devices, and portable military; which are expected to create more revenue and new opportunities for the portable battery pack manufacturers in the near future.
Lithium technology dominates the portable battery pack market, owing to its higher density with respect to all the other battery technologies. Though the current market is dominated by the lithium-ion technology, there is a strong growth observed in the lithium-polymer technology segment due to its advantage of higher energy densities, storage capacity, and high charging cycles. The adoption of lithium polymer portable batteries is projected to dramatically increase, with a high adoption projected in the mature markets of high capacity range electronic devices such as notebook PCs, laptops, Smartphone, and tablets.
The competitive landscape section of the report provides key developments and strategies followed by the major players and their company profiles. Some of the big players in the portable battery market include BYD Battery Co. Ltd (China), Energizer Holding Inc. (U.S), LG Chem Power Inc. (South Korea), Mophie Inc. (U.S), Panasonic Corporation (Japan), Simplo Technology Co. Ltd. (Taiwan), Sony Corporation (Japan), and Samsung SDI Co., Ltd. (South Korea).The report also presents a detailed analysis of the overall global portable battery market, along with the market dynamics (drivers, restraints, and opportunities) and market size forecasts in terms of the revenue.
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