The portable battery pack is fundamentally a device that aids in power supply and enables charging of several devices such as mobiles, tablets and countless other devices at our convenience. It comes in several sizes and quantities and the prices vary accordingly. They are very compact but the weight reliant on the battery capacity. There can be several ports for charging and discharging. Newer models sustenance fast charging.
According to the report analysis, ‘Global Portable Battery Pack Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)’ states that China Bak Battery, Inc, Energizer Holding Inc., Panasonic Corporation, Samsung SDI Co., Ltd., Sony Corporation, Mophie Inc., Duracell International Inc, LG Chem Power Inc., Philips, Simplo Technology Co. Ltd. and many more are the key companies which presently working in the global portable battery pack market more proficiently for registering the great value of market share, keep maintaining the governing position, generating the highest percentage of revenue, obtaining the competitive edge and leading the highest market growth by analysing the strategies and policies of government as well as contenders, spreading the awareness connected to the applications and advantages of portable battery pack, increasing the features and benefits of portable battery pack, delivering the better customer satisfaction, decreasing the associated prices of such, implementing the policies of profit making and strategies of expansion, establishing the several research and development programs and improving the qualitative and quantitative measures of such.
Owing to the innovations in the battery technologies and high demands of portable packs in the consumer electronics sector such as the mobiles, tablets, notebooks, and several other smart devices; the “Portable battery market” is projected to grow in the assessed period. Also, the increasing demand of portable battery pack in a variability of application areas of communication, computer, medical, and military are assisting the industry to create a number of significant opportunities over the review period. The stringent government regulations on carbon emission and implementation of new recent technologies are the foremost challenges for the manufacturer with regards to introducing the products that are designed with the latest requiring applications, which surely limit the market from enlarging its reach.
Asia-Pacific region leads the complete market. The lithium batteries have emerged as the chosen choice for the consumer electronic products such as laptops, mobile phones, MP3 players, tablets, smartphones, and several other portable devices. Lithium-ion is leading the portable battery technology in this market.
In addition, the existence of electrical automobile giant Tesla and its speedy advancements in technology to make electrical vehicles more comfortable and competent for customers is one of the key propelling factors of market. Furthermore, speedy development of portable electronic gadgets such as smartphones, watches, smart glasses, smart band, and basic medical equipment has boomed up the growth of market. In addition, augment in investments in the innovation of small-scale renewable energy sources demand the efficient energy storage systems in homes, which is projected to deliver the ample opportunities for the growth of portable battery market.
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Ankur Gupta, Head Marketing & Communications