LONDON, July 26. 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on Mobile Battery Market, increasing demand for smartphones worldwide is driving the growth of the market. The demand for mobile battery products only depends on the sales of mobile phones, because mobile phones are rechargeable and require batteries. According to TechRadar, a technology-focused online publication, in 2021, global smartphone sales for the world’s top five manufacturers increased, with Samsung adding 7.6% to 272 million units, or 19% of the market; Apple devices sold increased 19.7% to 239 million; and the company grew 16.7% in terms of market share. Xiaomi, Oppo and Vivo all saw shipments increase by around a third. Hence, the growing smartphone penetration is driving the growth of the mobile battery market.
The global mobile battery market share is expected to grow from $20.29 billion in 2021 to $21.59 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The growth of the mobile battery industry is expected to reach $28.06 billion in 2026 at 6.8% CAGR.
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Technological advancements are gaining popularity among mobile battery market trends. Many battery research companies are updating the latest technologies in the world to offer improved products to their users. In 2021, Xiaomi has developed new battery technology for smartphones that could prepare OEMs to ditch the age-old lithium-ion technology currently used in smartphones. In terms of selling points, the company seems to be promoting its new high-silicon lithium battery technology, which offers a 10% increase in battery capacity at the same volume. Xiaomi claims that its negative electrodes now contain 300% more silicon. In addition to an internal chip and advanced algorithms, battery performance should be significantly improved. Additionally, the company confirmed that mass production of the new high-silicon lithium batteries is scheduled for the second half of 2022.
The major players in the mobile battery market are Sunwoda Electronic, DESAY, BYD Company Ltd., Samsung SDI Co. Ltd., LG Chem, ATL, TWS, Boston-Power and China BAK Battery.
TBRC’s global mobile battery market analysis is segmented by type into lithium ion, lithium polymer, nickel cadmium, nickel metal hydride, others; by sales channel online, offline; by industry into smartphone, non-smartphone.
Asia Pacific was the greater region in the Mobile Battery Market in 2021. Regions covered in the Mobile Battery Market report are Asia-Pacific, Western Europe, Eastern Europe, North America, America South, the Middle East and Africa.
Global Mobile Battery Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provide mobile battery market overviews, analyzes the battery market and forecast market size and growth for the overall market, Mobile Battery Market segments and geographies, Mobile Battery Market trends, Mobile Battery Market drivers, Mobile Battery Market restraints , revenues, profiles and market shares of top mobile battery market competitors in 1000+ industry reports, covering 2500+ market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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