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

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Battery Pack Market Growing use of smartphones and surging need for longer battery backup are key market growth drivers

VANCOUVER, BC, CANADA, April 13, 2022 /EINPresswire.com/ -- The global battery pack market size is expected to reach USD 132.68 billion by 2028 at a CAGR of 17.9%, according to a new report by Emergen Research. Growth in market revenue is primarily attributed to increasing applications of battery packs in consumer electronic devices such as mobile phones and laptops, power tools, and electric vehicles. Increasing use of mobile devices such as smartphones, laptops, and tablets, growing use of cordless and portable electronic equipment, surging need for extended battery life are some of the major factors driving the growth of the global battery pack market.
A battery pack is an electrical power storage device consisting of several batteries connected in a serial configuration. The device is rechargeable and delivers the desired power density or capacity. Batteries and interconnects are the chief components of a battery pack that provide electrical conductivity between the units.

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

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Some Key Highlights of the Report:
• Based on product type, the phone battery packs segment is expected to register the highest growth in revenue over the forecast period. Growth of this segment is spurred by growing use of smartphones worldwide and increasing need for longer power backup for smartphones and other mobile devices.
• Among regional markets, North America emerged as the largest contributor to the global market revenue growth in 2020. The region’s thriving consumer electronics industry, increasing adoption of electric vehicles, and emergence of advanced battery technologies are the key drivers for the North America market growth.
• In terms of end-use, the medical segment is projected to register the fastest revenue growth rate during the forecast period, owing to several favorable factors. Surging need for high-performance battery packs for a wide range of medical devices and equipment and growing use of wearable medical devices or gadgets such as fitness bands and hearing aids have led to a higher demand for the product.

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The key 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. Ltd.

The Battery Pack research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others.

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For the purpose of this report, the global battery pack 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 pack
• Power battery pack
• Phone battery pack
• 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. U.S.
2. Canada
• Europe
1. Germany
2. U.K.
3. France
4. BENELUX
5. Rest of Europe
• Asia Pacific
1. China
2. Japan
3. India
4. South Korea
5. Rest of the Asia Pacific
• Latin America
1. Brazil
2. Rest of Latin America
• Middle East & Africa
1. Saudi Arabia
2. UAE
3. Rest of the Middle East & Africa

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

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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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

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