Lithium-ion Battery Technology Segment is Expected to Dominate the Global Portable Battery Market
Mobile Devices and Electronics and Growth in
Wearable Technology will likely create immense opportunities for the overall
Portable Battery market.
According
to TechSci Research report, “Global Portable Battery Market - Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Portable Battery is
anticipated to project robust growth in the forecast period with a CAGR of
12.06% through 2028. The trend toward electrification is extending beyond
transportation and consumer electronics to Portable sectors such as manufacturing,
agriculture, and mining. These industries are increasingly adopting electric
machinery and equipment powered by secondary batteries to reduce carbon
emissions and improve efficiency.
The
significance of this trend lies in its potential to create new markets and
applications for secondary batteries. It also aligns with global efforts to
decarbonize Portable processes and reduce the environmental impact of these
sectors. Collaboration and partnerships between governments, research
institutions, and private companies are on the rise in the Portable Battery
market. These collaborations facilitate knowledge sharing, research funding,
and the development of standardized testing methods and safety protocols.
The
significance of this trend is its potential to accelerate advancements in
battery technology and streamline regulatory processes. It promotes a global
ecosystem that supports innovation and ensures the safety and reliability of
secondary batteries. While lithium-ion batteries dominate the market, there is
a growing trend toward diversifying battery chemistries. This includes
exploring alternative materials such as sodium-ion, potassium-ion, and even
lithium-sulfur batteries. Diversification aims to address limitations in cost,
resource availability, and energy density associated with lithium-ion
technology. The significance of this trend lies in its potential to offer
alternative solutions and reduce reliance on a single battery chemistry. It
also encourages competition and innovation in the industry.
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over xx market data Figures spread through 188 Pages and an in-depth TOC on " Global
Portable Battery Market"
Based
on region, Asia-Pacific is expected to be the largest market, with the majority
of the demand coming from China, Japan, and India. The Asia-Pacific region has
multiple growing economies with substantial natural and human resources, with
China and India expected to be major investment hotspots for Portable Battery
companies in the coming years due to policy-level support from governments for
both renewables and EVs and a growing middle-class population creating demand
for consumer electronics.
India
has been witnessing a surge in manufacturing batteries locally due to the
government's push toward e-mobility. The Indian government aims to achieve a
30% electric fleet by 2030 and has been formulating policies and programs to
achieve the target. For example, in 2021, the government amended the ongoing
FAME-II (Faster Adoption and Manufacturing of Electric Vehicles-II) scheme to
increase the subsidy rate for electric vehicles from INR 120/kWh to INR 180/kWh
to reduce the gap between petrol-powered two-wheelers and electric powered.
China
was the largest electric car market and sold more than 3.3 million electric
vehicles, accounting for almost 16% of the global electric car sales in 2021.
It is expected to remain the world's largest EV market in the future. The
development of charging infrastructure is further propelling EV adoption in the
country. Apart from EVs, the increasing penetration of telecommunication
services indicates a high demand for secondary batteries.
Similarly,
in Japan, 5G services started in 2020, and an increasing number of subscribers
are likely to switch to 5G during the forecast period, thus resulting in a
surge in the demand for 5G towers and secondary batteries.
Therefore,
based on such factors, Asia-Pacific is likely to dominate the Portable Battery
market during the forecast period.
Key
market players in the Global Portable Battery Market are following:-
- Umicore
- Retriev
Technologies
- American
Battery Technology Company (ABTC)
- Li-Cycle
- Aqua
Metals
- Battery
Solutions
- Recupyl
- Gopher
Resource
- Glencore
Recycling
- Retech
Recycling Technology AB
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“
In conclusion, the global Portable Battery market is characterized by several
prominent trends, including the continued dominance of lithium-ion technology,
advancements in solid-state batteries, an increased focus on sustainability,
the proliferation of electric vehicles, grid-scale energy storage, innovation
in energy density and fast charging, electrification of industries, global
collaboration and partnerships, diversification of battery chemistries, and
consumer demand for longer battery life. These trends collectively shape the
direction of the Portable Battery market, influencing technological
developments, regulatory frameworks, and market dynamics. As the world seeks
cleaner and more sustainable energy solutions, secondary batteries will play a central
role in powering the future..” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Portable
Battery Market – Global Industry Size, Share, Trends, Opportunity, and Forecast
Segmented By Technology (Lead-acid Batteries, Lithium-ion Batteries, and
Others), By Type (Consumer Electronics, Others), By Region, By Competition
2018-2028F” has
evaluated the future growth potential of Global Portable Battery Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Portable
Battery Market.
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