The Global Market for Battery Chargers is Projected to Reach US$18.8 Billion by 2022
Rising Demand for Battery-Powered Portables to Drive the
Battery Chargers Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market size, share, and
demand forecasts on the global Battery Chargers market. The global market for Battery Chargers is projected to
reach US$18.8 billion by 2022, driven
by the growing demand for battery-powered, power-hungry portable electronics.
With the demand for
battery-powered electronic devices and equipment rising, the market for battery
chargers is expected to witness parallel growth. An external device, a battery
charger powers batteries used in an electronic device or equipment, converting
AC current into low-voltage AC or DC current. Battery chargers find use in a
wide range of products across end-use sectors such as Automotive, Industrial,
Information Technology, Telecommunications and Consumer Products. Market
dynamics of end-use markets therefore have a major impact on sales of battery
chargers. Increasing demand for smartphones, industrial forklifts, cameras and
electric vehicles foster positive outlook for battery chargers. With evolving
needs of end-use devices such as increasing power capacity, improving
functionality and miniaturization, battery chargers are evolving to become
smaller, affordable, faster, and more powerful. Likewise, safe charging
techniques that prevent overvoltage and protect the battery system during
charging are benefiting growth in the market. Emergence of new battery classes and
the resulting expansion in application areas will additionally provide sizable
opportunities for battery chargers.
Telecommunications
represents the largest end-use market driven in large part by growing market
for smartphones and innovations such as wireless, smart and fast chargers. Product
innovation in the market typically moves in sync with the energy storage needs
of major end-use markets. Growing demand for faster, easier and convenient
charging solutions is driving the commercial value of wireless chargers, which
are witnessing significant technological developments. Several new technologies
such as Qi Technology,
technology for charging through ambient air, super-speed chargers and charging
through sunlight are being developed. Advanced computer managed chargers that
preserve battery life expectancy, condition and maintenance are finding increased
acceptance in industrial markets. Multifunctional chargers compatible with
batteries and charging ports of multiple sizes and types are growing in
popularity coupled with innovations in smart energy efficient charging.
As stated by the new
market research report on Battery Chargers, the United States represents the largest market worldwide. Asia-Pacific
ranks as the fastest growing market with a CAGR of 7.7% over the analysis
period led by continued rise in demand for a wide range of electronic products
such as smartphones, cameras, tablets, laptops and LED flashlights among others
driven by rising standard of living, digitalizing consumer lifestyles,
increasing incomes, and affordability of these products.
Major players covered in
the report include Accutronics Limited, Analytic Systems Ware Ltd., Anoma Corporation, Associated Equipment
Corporation, Energizer Holdings Inc., Exide Technologies, Ferro Magnetics
Corporation, FRIWO AG, HindlePower Inc., Panasonic Corporation of North
America, Phihong USA Corporation, Powerbase Industrial (HK) Ltd., Saft S.A.,
Salcomp Plc Schumacher Electric Corporation, Scud (Fujian) Electronics Co.,
Ltd., Shun Shing Standard Corporation Development Ltd., Spectrum Brands Inc.,
Uniross Batteries S.A.S and Yuasa Battery Inc., among others.
The research report titled
“Battery Chargers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides
a comprehensive review of market
trends, issues, drivers, mergers, acquisitions and other strategic industry
activities of global companies. The report provides market estimates and
projections for Battery Chargers in value and volume terms for all major
geographic markets such as United States, Canada, Japan, Europe (France,
Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China,
India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin
America) and Rest of World. Global and regional markets are analyzed in value
terms, and the US and Canadian markets in volume terms, by the following
end-use sectors – Automotive, Industrial Information Technology,
Telecommunications and Consumer Products.
Global
Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights
Reserved.
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