The consumer battery market is expanding due to demand for electronics, EVs, and renewable energy storage
AUSTIN, TX, UNITED STATES, November 14, 2024 /
EINPresswire.com/ -- The
Consumer Battery Market was valued at USD 22.07 Billion in 2023 and is projected to reach USD 39.93 Billion by 2032, growing at a compound annual growth rate (CAGR) of 6.87% from 2024 to 2032.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐จ๐ญ๐๐ง๐ญ๐ข๐๐ฅ ๐๐ง๐ ๐
๐ฎ๐ญ๐ฎ๐ซ๐ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ
The demand for consumer batteries is expected to augment concurrently with portable electronic devices, electric vehicles (EVs), and the adoption of renewable energy storage solutions. Technology advancement has directed energy storage solutions to make batteries more efficient, durable, and environmentally friendly, thus increasing consumers' acceptance rates. Switching to green energy solutions and sustainable products accelerates expansion into the market.
Future opportunities would be available in innovations in technologies such as solid-state batteries and fast-charging technologies promising longer performance or efficiency with better safety. As the trend for electric mobility and eco-conscious consumerism speeds up, demand for high-capacity, long-lasting batteries will be higher; consumer batteries will, therefore, be a key cornerstone in this shift towards sustainability around the world.
๐๐๐ญ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐จ๐ ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ @
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๐๐ข๐ฌ๐ข๐ง๐ ๐๐๐ฆ๐๐ง๐ ๐๐จ๐ซ ๐๐จ๐ซ๐ญ๐๐๐ฅ๐ ๐๐ฅ๐๐๐ญ๐ซ๐จ๐ง๐ข๐๐ฌ ๐๐ซ๐ข๐ฏ๐๐ฌ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐ญ๐ก๐ ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ
The consumer battery market has strong growth drivers in the form of a surging demand for personal electronic devices like smartphones, laptops, and wearables. The ability to store more energy, have a longer lifespan, charge faster, and make frequent recharging easier has raised the pressure on developers to innovate. An improvement in mobility and connectivity as compared to earlier times would remain part of people's lifestyles and continue to accelerate the growth for the market.
๐๐ซ๐จ๐ฐ๐ข๐ง๐ ๐๐ก๐ข๐๐ญ ๐๐จ๐ฐ๐๐ซ๐๐ฌ ๐๐๐ง๐๐ฐ๐๐๐ฅ๐ ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ซ๐ข๐ฏ๐๐ฌ ๐๐๐ฆ๐๐ง๐ ๐๐จ๐ซ ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐๐ญ๐ญ๐๐ซ๐ข๐๐ฌ
Increasing use of renewable energy sources, like solar and wind, is driving demand for good energy storage solutions, and one aspect where considerable attention has been drawn to consumers is in batteries. These systems need reliable batteries to store any excess energy for later use, which makes high capacity, long-lasting solutions, a much-needed thing. This shift is thus making the consumer battery market to also be at the center of the transition to cleaner and much more sustainable energy.
๐๐๐๐ ๐๐ง๐ฒ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐จ๐ง ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ , ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐จ๐ฐ@
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๐๐ฌ๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ ๐๐ข๐ญ๐ก๐ข๐ฎ๐ฆ-๐๐จ๐ง ๐๐๐ญ๐ญ๐๐ซ๐ข๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ
Lithium-ion batteries lead in the consumer battery market, accounting for about 59% revenue share in 2023. This is mainly because they enjoy higher energy density, longer life, and the range of applications they can power from smartphones to EVs. Rapid growth is further fueled by a global shift toward electric mobility, renewable energy storage, and portable electronics. More improvements in technology, like faster charging time and better efficiency of battery, will raise the demand for lithium-ion batteries at a compound annual growth rate of about 8.12% over 2024-2032. In addition, policies by governments on the promotion of green technologies as well as the shift to electric vehicles are quickening adoption, cementing its place as the fastest-growing battery segmentโ
๐๐ฌ๐ข๐-๐๐๐๐ข๐๐ข๐'๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐๐ ๐๐ง๐ ๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐'๐ฌ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค
Asia-Pacific dominated the consumer battery market with a revenue share of around 47% in 2023, mainly because of its lead in manufacturing and technology. Among the leading manufacturing countries of the battery are China, Japan, and South Korea, where big companies have power supply chains for lithium-ion batteries. It is further driven by growing demands for EVs and renewable energy solutions in that regionโ
North America is supposed to be the largest in region with a CAGR atย round 8.31% throughout the forecast period from 2024 to 2032 because of the growth of the Electric vehicle market and due to the clean energy solutions. Government incentives in the US and Canada, focusing on sustainability and battery storage for advanced consumer batteries, boost demand. The growing need for the region's energy storage systems along with new, better battery technologies will lead to even more market growth in the region.
๐๐ฉ๐๐๐ค ๐ญ๐จ ๐๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐ญ๐จ ๐๐๐ญ ๐ฆ๐จ๐ซ๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐จ๐ง ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ@
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๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ย ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ
โคIn 2024, Samsung SDI introduced its advanced LFP+ battery at IAA Transportation, aimed at electric commercial vehicles, providing increased energy density, extended lifespan, and rapid charging features.
โคIn 2024, Panasonic Energy and Subaru revealed a partnership to create a new battery manufacturing facility in Japan aimed at producing lithium-ion batteries for vehicles, thereby addressing the increasing need for electric cars and promoting sustainable energy solutions.
๐๐ฎ๐ฒ ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐จ๐ ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐๐-๐๐๐๐@
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๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
By Battery Type
โคLithium-Ion Battery
โคZinc-Carbon Battery
โคNickel-Cadmium Battery
โคAlkaline Battery
โคNickel Metal Hydride
โคOthers
By Application
โคFlashlight
โคPortable Power Banks
โคPower Tools
โคHearing Aids
โคPersonal Care Devices
โคRadios
โคRemote Controls
โคMobile Phones
โคToys
โคCamera
โคTablets
โคSecurity Devices
โคSmoke Detectors
โคLaptops
โคSmart Watches
โคCalculators
โคOthers
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
โคSamsung SDI
โคPanasonic Holdings Corporation
โคDuracell
โคEve Systems
โคTianJin Lishen Battery Joint-Stock Co., Ltd.
โคSuzhou South Large Battery Co., Ltd.
โคEveready
โคPolyPlus Battery Company
โคMaxell, Ltd.
โคVARTA AG
โคGP Industrial
โคLG Energy Solution
โคFDK Corporation
โคMurata Manufacturing Co., Ltd.
โคEnergizer Holdings, Inc.
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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