The global home care packaging market is prompted to record ~ 8.5% CAGR during the forecast period, 2017-2023. The progress in the market can be observed with the rising factors from all corners of the globe. Market Research Future estimates the figures and reveals that the market will witness high growth prospects in the coming years.
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Top Impacting Factors:
The portable battery market is on the rise with the growth of technological products. Battery-operated electronic devices such as wireless devices, mobile phones, and others are required to be recharged from time to time, which is one of the crucial factors influencing the growth of the portable battery market. The study finds that portable batteries are significantly used in household applications such as clocks, flashlights, calculators, and watches, and more. All these factors have influenced the market to rise in the coming years.
At the same time, the rise in the demand for smartphones and tablets has also driven the use of portable batteries and made them unique under the consumer electronics segment. As seen, portable batteries are obtainable in a wide range of shapes, sizes, chemistries, and applications. In which, lithium-ion technology in batteries provides more power and makes them thinner and smaller in size. The evolution of battery technologies has directly connected with the miniaturization of consumer electronics such as laptops, tablets, and mobile phones. The Li-ion batteries have superior energy density than conventional battery technologies such as nickel-metal hydride and nickel-cadmium (Ni-Cd). These factors have come in front with high susceptibility that the market could gain more and more valuation in the forecast period.
Some of the new technologies that have developed enable next-generation portable battery-operated IoT devices. Also, some more medical and consumer products such as fitness bands, hearing aids, diagnostic monitoring patches that require portable batteries are relatively becoming popular. The plastic and metal used in the manufacturing of portable batteries also fulfill the requirement associated with the chlorinated plastic, flame resistance along with the type of metals. These factors have been counted as an essential one in the growth course of the portable battery market.
Furthermore, other key factors responsible for the growth of the portable battery market are the growing demand for electric vehicles and the continuously growing demand for other types of consumer non-durables. Also, some strict government policies on fuel consumption and fuel economy are also one of the main reasons for driving the demand for the portable battery market.
Some of the most prominent cases of point MRFR found in its study. In essence, Canon started distributing Rayo Mini projectors in India where Canon's Rayo i5 and Rayo R4 are compact, lightweight, and portable. Rayo i5 is known for having a 1900 mAh battery that can run up to 120 minutes, whereas R4 has 1700 mAh battery and can run up to 150 minutes. On a similar note, Honda Motor Company, Ltd. also entered and partnered with Panasonic to develop a detachable and portable lithium-ion battery to be used in motorcycles, cars, robots, and other electronic devices.
Segmental Analysis: Portable Battery Market:
From the segmental viewpoint of the global portable battery market, it has included various segments such as technology, capacity type and application.
Among the technology segment, the market has included lithium-polymer battery, lithium-ion battery, nickel-metal hydride battery and nickel-cadmium battery.
Among the capacity type segment, the market has included 2600-5000 mAh, 5100-10400 mAh, 000-2500 mAh, and above 10400 mAh
Among the application type segment, the market includes smartphones, media devices, tablets, and portable, wearable accessories.
From the regional point of view, the study of the global portable battery market has includes the regions of Asia-Pacific, Europe, North America, and the rest of the world.
Asia-Pacific is leading the global portable battery market with the largest market share in support of the massive consumption of mobile phones and other portable accessories. The rising countries in the region, such as India, Myanmar, Vietnam, and China, are making extreme efforts to expand and modernize the wireless device services. Singapore, Thailand, and the Philippines are also presumed to contribute to the regional market expansion over the assessment period. Other countries such as Malaysia, Japan, and Australia are also in the line of growing in order to develop new battery designs. These regions are also expected to play a pivotal role in the market expansion in Asia-Pacific.
North America market might also expect to expand during the assessment period owing to the mounting demand for high capacity range devices in this region, which in turn may augment the global portable battery pack market growth.
Top Market Contenders:
Sony Corporation (Japan), Alcatel-Lucent S.A. (France), Acer Inc. (Taiwan), Siemens AG (Germany), Dell Inc. (US), Advanced Battery Systems Inc. (US), Nikon Corporation (Japan), Casio Computer Co.Ltd. (Japan), Sharp Electronics Corporation (Japan), and Seiko Holdings Corporation (Japan) are the key market players who have been immensely investing in the market's valuation over the years.
Other players such as BYD Company Ltd. (China), Lenovo group Ltd. (Hong Kong), Duracell International Inc. (US), China Bak Battery, Inc. (China), Simplo Technology Co. Ltd. (Taiwan), Mophie Inc. (US), Samsung Sdi Co. Ltd. (South Korea), Panasonic Corporation (Japan) are also in the league.
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