Major players in the mobile battery market are Sunwoda Electronic, DESAY, BYD Company Ltd., Samsung SDI Co. Ltd., LG Chem, ATL, TWS, Boston-Power, and China BAK Battery. The global mobile battery market grew from $21.61 billion in 2022 to $23.05 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%.
New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mobile Battery Global Market Report 2023" - https://www.reportlinker.com/p06311716/?utm_source=GNW
Major players in the mobile battery market are Sunwoda Electronic, DESAY, BYD Company Ltd., Samsung SDI Co. Ltd., LG Chem, ATL, TWS, Boston-Power, and China BAK Battery.
The global mobile battery market grew from $21.61 billion in 2022 to $23.05 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The mobile battery market is expected to grow to $29.9 billion in 2027 at a CAGR of 6.7%.
The mobile battery market consists of sales of nickel-cadmium (NiCd), NiMH (NiMH), lithium-ion (Li-ion), and lithium Polymer (Li-pol) batteries.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The mobile battery refer to batteries are that rechargeable and that allow the use of the phone at any location and any time.The battery is revitalized using a charger designed specifically for the phone and battery.
It is usually necessary to plug in a charger to a power source, such as an electrical outlet to recharge the battery.
Asia-Pacific was the largest region in the mobile battery market in 2022. The regions covered in the mobile battery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of mobile batteries are lithium-ion, lithium polymer, nickel-cadmium, nickel-metal hydride, and other types.A lithium-ion battery, often known as a Li-ion battery, is a rechargeable battery made up of cells in which lithium ions travel from the negative electrode to the positive electrode through an electrolyte during discharge and then back again during charging.
Mobile batteries are sold over online and offline channels on smartphones and non-smartphones.
The rise in the demand for smartphones all over the world is driving the growth of the market.Mobile battery products demand only depends on the sales of the mobile phones as mobile phones are chargeable and need batteries in them.
According to TechRadar, an online publication focused on technology, in 2021, the global smartphone sales for the world’s five largest manufacturers increased, with Samsung adding 7.6% to 272 million units - or 19% of the market and Apple devices sold increased by 19.7% to 239 million, and the company grew by 16.7% in terms of its market share. Xiaomi, Oppo, and Vivo all saw their shipments rise by roughly one-third. Therefore, the rising penetration of smartphones is driving the growth of the mobile battery market.
Technological advancement is a key trend gaining popularity in the mobile batter market.Many Battery research companies are updating the newest technologies in the world to offer enhanced products to their users.
In 2021, Xiaomi has developed a new battery technology for smartphones that could prepare OEMs to abandon the age-old lithium-ion technology currently used in smartphones.In terms of selling points, the company appears to be promoting its new High-Silicon Lithium battery technology, which offers a 10% increase in battery capacity at the same volume.
Xiaomi claims that its negative electrodes now contain 300% more silicon.In addition to an in-house chip and advanced algorithms, battery performance should be enhanced greatly.
Moreover, the company confirmed that mass production of the new high-silicon lithium batteries is scheduled for H2 2022.
In July 2021, Enovix Corporation, a US-based advanced silicon-anode lithium-ion battery development, and production merged with Rodgers Silicon Valley Acquisition Corp. for an undisclosed amount. Through this merger, on July 15, the merged business will trade on the Nasdaq Global Select Market (Nasdaq) under the new ticker symbols ENVX for Enovix common stock and ENVXW for Enovix warrants, with the new ticker symbol ENVX for Enovix warrants. Until the ENVX opens for trading on July 15, stocks will be traded using the RSVA, RSVAU, and RSVAW ticker symbols. Enovix will be able to expand its first two manufacturing sites to meet demand from blue-chip clients in the worldwide mobile computing industry, while also continuing to develop cells for electric vehicles (EVs). Rodgers Silicon Valley Acquisition Corp. is a company formed for mergers, acquisitions, and share exchange.
The countries covered in the mobile battery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The mobile battery market research report is one of a series of new reports that provides mobile battery market statistics, including mobile battery industry global market size, regional shares, competitors with a mobile battery market share, detailed mobile battery market segments, market trends and opportunities, and any further data you may need to thrive in the mobile battery industry. This mobile battery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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