Portable Battery Market Forecasts to 2030 – Global Analysis By Technology (Lead Acid, Nickel Metal Hydride, Lithium-ion Polymer, Lithium-ion, Nickel Cadmium and Other Technologies), Battery Capacity, Application and by Geography

Portable Battery Market Forecasts to 2030 – Global Analysis By Technology (Lead Acid, Nickel Metal Hydride, Lithium-ion Polymer, Lithium-ion, Nickel Cadmium and Other Technologies), Battery Capacity, Application and by Geography

According to Stratistics MRC, the Global Portable Battery Market is accounted for $17.33 billion in 2024 and is expected to reach $31.86 billion by 2030 growing at a CAGR of 10.68% during the forecast period. Portable batteries are small, lightweight devices made to hold electrical energy for mobile device charging. Usually made of lithium-ion or lithium-polymer batteries, these power banks have a high energy density that makes them lightweight and portable. Moreover, a voltage converter, circuitry for controlling charging and discharging and battery cells make up a power bank's essential parts. For devices to be safe and functional, internal circuitry must guarantee that the right voltage and current are applied during charging.


Market Dynamics:

Driver:

Growing consumer electronics demand

The increasing number of consumer electronics, such as laptops, tablets, smartphones, and smart watches, has led to a significant demand for portable power sources. Customers anticipate more functionality and longer battery life from their gadgets as technology develops. The demand for portable batteries that can charge these devices quickly and last longer has increased production of these batteries. Additionally, as smart home technology and Internet of Things (IoT) applications proliferate, there is an increased demand for dependable portable batteries because these gadgets frequently need constant power to function.

Restraint:

Limitations on capacity and energy density

The intrinsic limitations in energy density and capacity of current battery technologies represent one of the biggest obstacles facing the portable battery market. Even though lithium-ion batteries are the industry leader, they are still unable to equal fossil fuels' energy density. Furthermore, researchers are working hard to develop innovations that promise increased safety and higher energy density, such as solid-state batteries, but these technologies are not yet widely accessible and face significant challenges with scalability and affordability.

Opportunity:

Infrastructure development for electric vehicles (EVs)

Portable batteries have a lot of opportunities because of the electric vehicle market's explosive growth. The demand for portable charging options that can enhance current infrastructure is rising as more people buy electric vehicles (EVs). For extended travel or in places without charging stations, EVs can use portable batteries as a backup power source. To create integrated battery solutions that improve the usability and convenience of electric vehicles, businesses can look into forming alliances with automakers. Moreover, higher energy densities and quicker charging times brought about by advancements in battery technology will bolster this potential even more.

Threat:

Availability of raw materials and price volatility

Critical raw materials like lithium, cobalt, nickel, and graphite are vital to the portable battery industry. Manufacturers pricing and production strategies can be greatly impacted by the availability and price volatility of these materials. Profitability may be impacted by material shortages or price spikes brought on by supply chain disruptions, mining regulations, and geopolitical tensions. Additionally, concerns regarding possible material shortages could restrict production capacity and raise operating costs as the demand for batteries rises, particularly with the popularity of electric vehicles.

Covid-19 Impact

The market for portable batteries has been greatly impacted by the COVID-19 pandemic, which has also changed consumer behaviour and severely disrupted supply chains. Due to lockdowns and restrictions, many commercial electronics manufacturers had to postpone the launch of their products, which caused production delays and a decrease in the availability of portable batteries. The pandemic also brought about decreased consumer spending and economic uncertainty, which had an especially negative impact on high-end mobile devices that depend on portable batteries.

The Lithium-ion segment is expected to be the largest during the forecast period

Due to its extensive use in a variety of applications, especially consumer electronics and electric vehicles, the lithium-ion battery segment currently holds the largest market share for portable batteries. For gadgets like laptops, tablets, and smartphones, lithium-ion batteries are preferred due to their rapid recharge times, lightweight construction, and high energy density. With the growing popularity of electric vehicles and the rising demand for portable electronics, the lithium-ion market is predicted to continue to dominate. Moreover, the market is seeing innovation in lithium-ion batteries due to continuous advancements in the technology, which have improved safety and efficiency.

The More than 10,000mAh segment is expected to have the highest CAGR during the forecast period

The portable battery market's more than 10,000 mAh segment is anticipated to grow at the highest CAGR. The main factor fueling this expansion is the rising demand for high-capacity power banks that can power devices with high power requirements, like gaming consoles, laptops, and cameras. Higher-capacity batteries, capable of charging multiple devices at once, are becoming more and more popular as consumers look for longer battery life. Additionally, this trend is especially noticeable among professionals and outdoor enthusiasts who need dependable power sources for long-term travels or events where traditional charging options are scarce.

Region with largest share:

Due to its strong electronics manufacturing industry and quickening pace of technological advancement, the Asia-Pacific region commands the largest share of the global market for portable batteries. Leading this growth are nations like South Korea and China, which profit from large consumer bases and robust production capacities. China holds a prominent position in the global lithium-ion battery market, accounting for more than 77% of the supply used in electric vehicles and portable electronics. Furthermore, the region's market expansion is mostly driven by growing urbanization, rising disposable incomes, and increased demand for consumer electronics.

Region with highest CAGR:

Due to the growing popularity of consumer electronics and electric vehicles, the North American region is predicted to have the highest CAGR in the portable battery market. The demand for advanced battery solutions, especially lithium-ion batteries, which are preferred for their efficiency and dependability, is being driven by the region's strong focus on technological innovation and sustainability initiatives. Portable power sources that can support a range of devices, from laptops to recreational equipment, are becoming increasingly necessary as remote work and outdoor activities become more common. Additionally, supporting the growth of the electric vehicle market in North America are the existence of significant technology companies and a strong infrastructure for charging them.

Key players in the market

Some of the key players in Portable Battery market include Acer Inc, Dell Inc, BYD Company Ltd., Hitachi, Ltd., LG Chem Power, Inc, Nikon Corporation, Sony Corporation, Johnson Controls, Siemens, Lenovo, NEC Corporation, Advanced Battery Systems, Inc., Toshiba Corporation, Panasonic Corporation and Samsung Electronics.

Key Developments:

In August 2024, Acer, Cathay Cargo, and Dimerco Express Group are joining forces to reduce carbon emissions in aviation. Acer and its logistics provider, Dimerco, have signed an agreement to support sustainable aviation fuel (SAF) use on Cathay Cargo's flights. Under Acer's net-zero strategy is a commitment toward greener logistics, which the company will focus on to achieve its goal of net-zero emissions by 2050.

In May 2024, Hitachi Energy and Aibel have signed separate framework agreements with German renewable energy company, RWE, for multiple high-voltage direct current (HVDC) systems to accelerate the integration of offshore wind power into the grid. The agreement follows the signing of a Capacity Reservation Agreement (CRA) last November that reserves the engineering and production capacity to develop three major HVDC projects.

In December 2023, LG Energy Solution, a leading global manufacturer of advanced lithium-ion batteries, and Impact Clean Power Technology (ICPT), a top global supplier of heavy-duty battery systems for public transportation, announced that they have signed a supply agreement for NCM lithium-ion battery modules.

Technologies Covered:
• Lead Acid
• Nickel Metal Hydride
• Lithium-ion Polymer
• Lithium-ion
• Nickel Cadmium
• Other Technologies

Battery Capacities Covered:
• 0-3,000mAh
• 3,100-5,000mAh
• 5,100-10,000mAh
• More than 10,000mAh

Applications Covered:
• Smartphones
• Tablets
• Automotive
• Wearable Electronics
• Cameras and Gaming Devices
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements