The Mobile Battery Market Is Expected To Grow At A 6% Rate, Owing To An Increase In Smartphone Demand As Per The Business Research Company's Mobile Battery Global Market Report 2022 - GlobeNewswire
| Source: TBRC Business Research PVT LTD
Hyderabad, INDIA
LONDON, July 26, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the mobile battery market, the rise in the demand for smartphones all over the world is driving the growth of the market. Mobile battery product demand only depends on the sales of 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; 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.
The global mobile battery market share is expected to grow from $20.29 billion in 2021 to $21.59 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The mobile battery industry growth is expected to reach $28.06 billion in 2026 at a CAGR of 6.8%.
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Technological advancement is gaining popularity among mobile battery market trends. 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.
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.
TBRC’s global mobile battery market analysis is segmented by type into lithium ion, lithium polymer, nickel cadmium, nickel metal hydride, others; by sales channel into online, offline; by industry into smartphone, non-smartphone.
Asia-Pacific was the largest region in the mobile battery market in 2021. The regions covered in the mobile batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Mobile Battery Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide mobile battery market overviews, mobile battery market analyze and forecast market size and growth for the whole market, mobile battery market segments and geographies, mobile battery market trends, mobile battery market drivers, mobile battery market restraints, mobile battery market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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