Geographical Trends Influencing Consumer Battery Market Size
(PRUnderground) December 6th, 2023
The anticipated expansion of the Consumer Battery Market is projected to reach USD 5.12 billion, with a notable Compound Annual Growth Rate (CAGR) of 4.46% from 2023 to 2028. This growth is attributed to the widespread utilization of battery-dependent devices like smartphones, laptops, and wearables. The surge in demand for wireless devices powered by batteries presents lucrative opportunities for developers in this market. Advancements in technology, such as the development of solid-state Li-ion batteries, focus on improving battery lifespan and safety, consequently propelling market growth. Technavio provides comprehensive market insights that enable global businesses to identify avenues for growth. Access the Report.
Consumer Battery Market 2024-2028: Segmentation Type (Primary, Secondary), End-user (Residential , Commercial), and Geography o North America o APAC o Europe o Middle East And Africa o South America Significant growth is anticipated in the primary segment during the forecast period. These batteries find common applications in daily household items like remote controls, clocks, flashlights, smoke detectors, and portable radios. Their ease of installation, low maintenance requirements, and cost-effectiveness make disposable batteries particularly favored for children’s toys and games.
Consumer Battery Market 2024-2028: Company Analysis and Scope Key players in the consumer battery market industry include Berkshire Hathaway Inc., Electrochem Automation Inc, EVE Energy Co. Ltd., Eveready Industries India Ltd., Fujitsu Ltd., GP International Ltd, Jiangmen TWD Technology Co. Ltd., Johnson Controls International Plc, LG Energy Solution Ltd., Maxell Ltd., Murata Manufacturing Co. Ltd., Panasonic Holdings Corp., Poly Plus Battery Co., Samsung SDI Co. Ltd., Shenzhen PKCELL Battery Co. Ltd, Suzhou South Large Battery Co. Ltd., The Swatch Group Ltd., Toshiba Corp., Ultralife Corp., and VARTA AG. Technavio’s report offers a detailed analysis of approximately 25 companies in the market, empowering businesses to enhance their market position and navigate evolving segments effectively. Competitive intelligence, benchmarking, and strategic insights are integral components of our research reports, providing support for market entry, customer profiling, M&As, and go-to-market strategies.
The report also encompasses: • Consumer Battery Market size • Consumer Battery Market trends • Consumer Battery Market industry analysis The consumer battery market displays fragmentation, with increasing fragmentation expected. Favorable government regulations present substantial growth opportunities, while rising environmental concerns pose challenges to market growth.
Consumer Battery Market 2024 – 2028: Market Dynamics Prominent trends shaping the consumer battery market include the emergence of smart batteries. Engineered to provide real-time information on performance, condition, and charging status, smart batteries hold significant value across various applications, including electric vehicles (EVs), uninterrupted power supplies (UPS), and renewable energy systems. Their prevalence in EVs optimizes charging and discharging, regulates temperature conditions, and enhances safety and driving range.
Consumer Battery Market 2024-2028: Key Highlights • CAGR forecast for 2024-2028 • In-depth analysis of growth factors over the next five years • Estimation of market size and contribution to the parent market • Predictions on emerging trends and shifts in consumer behavior • Examination of the competitive landscape and vendor details • Comprehensive insight into factors challenging market growth
Battery Market: The battery market is estimated to grow at a CAGR of 17.22% between 2022 and 2027. The size of the market is forecast to increase by USD 229.86 billion.
Industrial Lead-Acid Battery Market: The industrial lead-acid battery market size is estimated to grow at a CAGR of 6.63% between 2024 and 2028. The market size is forecast to increase by USD 6.21 billion.
- Executive Summary
- Market Landscapes
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Type
- Market Segmentation by End-User
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
About Technavio Research
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Original Press Release.