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

VANCOUVER, BC, CANADA, November 8, 2022 /EINPresswire.com/ -- The Global Battery Pack Market research report is a detailed document outlining the recent advancements and developments in the Battery Pack business sphere considering 2019 as the base year and 2021-2028 as the forecast timeline. The report offers valuable insights into the market size, market share, sales channel and distribution network, segmentation of the market, demands, and trends, and growth prospects. The report also studies the growth of the market on a global and regional scale. The supply chain disruptions and economic instability have negatively impacted the growth of the market in several key regions. The report explores the present and future impact of the pandemic and provides an insight into the post-pandemic market scenario.

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 device usually has a temperature sensor that notifies when the device is fully charged. Battery packs are most widely used in cordless machines and tools and battery electric vehicles. Some of the key advantages of these devices are their flexible design and ease of use. Battery packs are extensively used in medical devices such as patient monitors, ultrasound devices, imaging systems, surgical devices, motorized wheelchairs, and defibrillators. Increasing use of Li-ion battery cells and rising focus on renewable energy usage are further expected to bolster market growth.

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The report offers a complete analysis of the global Battery Pack market on a global and regional scale and offers a forecast for the market for 8 years. The report provides extensive coverage of the market drivers, restraints, limitations, growth prospects, threats, opportunities, and current and emerging trends in the market. The report also offers an in-depth analysis of the market players along with their business overview, product portfolio, technological advancements, expansion plans, financial standing, and global position. It also sheds light on the collaborations in the competitive landscape, such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, corporate and government deals, licensing agreements, and others.

Key companies profiled in the report include:

Epec, LLC, Cell Pack Solutions, House of Batteries, Cadex, Steatite, Excell Battery, ProTechnologies, Cell-Con, Global Technology Systems, and Battery Clinic

Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.

To know more about the report, visit @ https://www.emergenresearch.com/industry-report/battery-pack-market

This report is the latest document encompassing the massive changes that took place in the Battery Pack market following the emergence. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Battery Pack market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment.

Product Type Outlook (Revenue, USD Billion; 2018–2028)
Laptop Battery Pack

Power Battery Pack

Phone Battery Pack

Others

Battery Pack 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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