Emergen Research Logo

Battery Pack Market Trends – Increasing use of high-performance battery packs in the automotive and manufacturing sectors

VANCOUVER, BRITISH COLUMBIA, CANADA, April 24, 2023 /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 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.

The market for battery packs has grown significantly in recent years due to the rising popularity of electric vehicles (EVs) and the rising demand for energy storage technologies to support the integration of renewable energy sources. EV battery packs are crucial parts since they supply the energy required for their operation. EVs have gained substantial popularity as a result of the global effort to reduce greenhouse gas emissions and address climate change concerns, which has increased demand for battery packs.

To receive a free sample of the report, visit @ https://www.emergenresearch.com/request-sample/739

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Battery Pack market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others.

Leading companies profiled in the report are:

Epec, LLC,

Cell Pack Solutions,

House of Batteries,

Cadex,

Steatite,

Excell Battery,

ProTechnologies,

Cell-Con,

Global Technology Systems, 

Battery Clinic

Key Questions Answered in the Report:

What is the size of the battery pack market today, and what is the projected pace of growth going forward?

What are the key growth driving and restraining factors of the Battery Pack market?

What main elements are responsible for the battery pack market's expansion?

Who are the prominent players operating in the market?

What are the market's main trends for battery packs?

What are the key opportunities and growth prospects of the Battery Pack industry over the forecast period?

Key Highlights presented in 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.

Based on battery type, the Li-ion battery segment accounted for the highest revenue share in 2020. Growing use of Li-ion batteries in battery packs due to advantages such as high energy density, enhanced voltage capacity, and lower self-discharge rate compared to other battery types is one of the primary factors bolstering this segment’s 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.

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.

Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://www.emergenresearch.com/industry-report/battery-pack-market

Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Battery Pack market expected to boost the growth of the industry in the coming years.

Market Segmentation by product type:

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

Major Regions Covered in the Battery Pack Market Report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Request customization of the report @ https://www.emergenresearch.com/request-for-customization/739

Thank you for reading our report. Customization of the report is available according to the requirements of clients. In case of further queries about the report, do get in touch with us. Our team will make sure your report is tailored according to your needs.

Related Reports By Emergen Research

Nuclear Materials Transportation Market

https://www.emergenresearch.com/industry-report/nuclear-materials-transportation-market

Pushbutton Industrial Wireless Remote Control Market

https://www.emergenresearch.com/industry-report/pushbutton-industrial-wireless-remote-control-market

Radio Frequency Generator Market

https://www.emergenresearch.com/industry-report/radio-frequency-generator-market

Network Attached Storage Market

https://www.emergenresearch.com/industry-report/network-attached-storage-market

Digital Diabetes Management Market

https://www.emergenresearch.com/industry-report/digital-diabetes-management-market

Digital Railway Market

https://www.emergenresearch.com/industry-report/digital-railway-market

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 analyse 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.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Visit for More Insights: https://www.emergenresearch.com/insights

Trending Titles: Medical Power Supply Market | advanced ceramics market

Latest Report : non-invasive prenatal testing market |  irrigation automation marke

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.