Rechargeable Battery Market Statistics and Industry Analysis Detailed in Latest Research Study and Analysis Report 2020-2028

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Growing use of smartphones and increasing need for longer battery backup are major drivers for market growth

VANCOUVER, BC, CANADA, April 13, 2022 /EINPresswire.com/ — The Global battery market The size is expected to reach $132.68 billion by 2028 at a CAGR of 17.9%, according to a new report from Emergen Research. The market revenue growth is mainly attributed to the increasing applications of batteries in consumer electronics devices such as mobile phones and laptops, power tools, and electric vehicles. The increasing use of mobile devices such as smartphones, laptops and tablets, the increasing use of wireless and portable electronic equipment, the growing need for extended battery life are a few of the main growth factors of the global battery market.
A battery pack is an electrical energy storage device made up of several batteries connected in series. The device is rechargeable and delivers the desired power density or capacity. Batteries and interconnects are the main components of a battery pack that provide electrical conductivity between units.

The report considers the COVID-19 pandemic as one of the major factors influencing the battery market. The report examines in detail the positive and negative impact of the pandemic on the Battery industry. Supply chain disruptions and economic volatility have changed the dynamics of the battery industry. The report explores the effects of the pandemic on the market and its key segments and regions. It also offers a forecast estimate of market growth in a post-COVID-19 scenario.

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Some highlights of the report:
• Based on product type, the phone battery segment is expected to witness the highest revenue growth during the forecast period. The growth of this segment is driven by the growing use of smartphones globally and the growing need for longer backup power for smartphones and other mobile devices.
• Among regional markets, North America emerged as the top contributor to global market revenue growth in 2020. The region’s thriving consumer electronics industry, growing adoption of electric vehicles and the he emergence of advanced battery technologies are the main drivers of growth in the North American market. .
• In terms of end-use, the medical segment is expected to register the fastest revenue growth rate during the forecast period, due to several favorable factors. The growing need for high performance batteries for a wide range of medical devices and equipment and the increasing use of wearable medical devices or gadgets such as fitness bracelets and hearing aids have led to increased demand for the product. .

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Leading companies studied in the Battery Pack report are:
Epec LLC, Cadex, Steatite, Excell Battery, ProTechnologies, Energizer Holding Inc., Mophie Inc., BYD Battery Co. Ltd, LG Chem Power Inc., Panasonic Corporation, Simplo Technology Co. Ltd., Sony Corporation and Samsung SDI Co. .

The Battery Pack research report also includes an in-depth study of key industry players along with their business overview, strategic planning, and business expansion plans adopted by them. It helps readers and business owners formulate strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, agreements with companies and governments, etc.

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For the purposes of this report, the global battery market is segmented on the basis of product type, battery type, end-use and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
• Laptop battery
• Power battery
• Phone battery
• Others
Battery Type Outlook (Revenue, USD Billion; 2018-2028)
• Lithium ion battery
• Nickel metal hydride battery
• Lithium-polymer battery
• Nickel-cadmium battery
• Others
End-Use Outlook (Revenue, USD Billion; 2018-2028)
• Consumer electronics
• Automotive
• Power tools
• Medical
• Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)
• North America
1. United States
2.Canada
• Europe
1. Germany
2. United Kingdom
3.France
4. BENELUX
5. Rest of Europe
• Asia Pacific
1. China
2. Japan
3. India
4. South Korea
5. Rest of Asia-Pacific
• Latin America
1. Brazil
2. Rest of Latin America
• Middle East and Africa
1. Saudi Arabia
2. WATER
3. Rest of the Middle East and Africa

The report addresses the following key points:
• The report provides a forecast of market drivers, restraints, and future opportunities for the Battery market
• The report further analyzes changing market dynamics
• Regional analysis and market segmentation with analysis of regions and segments expected to dominate market growth
• Comprehensive competitive landscape mapping with key competitor profiles
• In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by key companies
• Revenue forecast, country scope, application information and product information

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