Market is driven by the growing penetration of consumer electronics – Technavio
NEW YORK, NY, November 21, 2023 /24-7PressRelease/ — The Consumer Battery Market size is expected to grow by USD 5.12 billion, accelerating at a CAGR of 4.46% from 2023 to 2028. The consumer battery market is growing due to the widespread use of devices like smartphones, laptops, and wearables that rely on batteries. The increasing demand for battery-powered wireless devices has created opportunities for battery developers. Technological advancements, such as solid-state Li-ion batteries, aim to enhance battery life and safety. These innovations are driving the market growth. Technavio offers in-depth market insights that assist global businesses in obtaining growth opportunities. Buy the Report
Consumer Battery Market 2024-2028: Segmentation
o North America
o Middle East And Africa
o South America
The primary segment is expected to witness substantial growth in the market during the forecast period. These batteries are commonly employed in daily household items like remote controls, clocks, flashlights, smoke detectors, and portable radios. They are easily installable and demand minimal maintenance. Moreover, disposable batteries are favored in children’s toys and games due to their cost-effectiveness and ease of replacement when depleted.
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Consumer Battery Market 2024-2028: Company Analysis and Scope
Some of the major companies of 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. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 25 companies operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the consumer battery market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
The consumer battery market is fragmented, and the degree of fragmentation will accelerate. The supportive government regulations will offer immense growth opportunities. However, the growing environmental concerns will hamper the market growth.
Consumer Battery Market 2024 – 2028: Market Dynamics
Leading trends influencing the market
An element influencing the growth of the consumer battery market is the rise of smart batteries. These batteries are engineered to provide immediate information on their performance, condition, and charging status. Moreover, this capability holds significant value across multiple uses, including electric vehicles (EVs), uninterrupted power supplies (UPS), and renewable energy systems. Additionally, smart batteries are prevalent in electric vehicles, where they optimize charging and discharging, regulate temperature conditions, and improve safety and driving range.
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Consumer Battery Market 2024-2028: Key Highlights
• CAGR of the market during the forecast period 2024-2028
• Detailed information on factors that will assist consumer battery market growth during the next five years
• Estimation of the consumer battery market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the consumer battery market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of consumer battery market vendors
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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.
1. Executive Summary
2. Market Landscapes
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Type
7. Market Segmentation by End-User
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
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