Portable Battery Market Size, Share, Growth Analysis, By Application(Mobile Phones, Smartphones), By Type(Lithium-ion Battery, Lithium-polymer Battery), By Technology(Lead Acid, Nickel Metal Hydride), By Capacity(0-3000mAh, 3000-5000mAh) - Industry Forecast 2024-2031

Global Portable Battery Market size was valued at USD 13.16 Billion in 2022 and is poised to grow from USD 14.53 Billion in 2023 to USD 32.07 Billion by 2031, growing at a CAGR of 10.4% in the forecast period (2024-2031).

A portable battery is a type of electrical battery that can be charged and disposed of as a load. Portable batteries find their application in many end-use applications such as power generation and the automotive industry. An increase in construction-related industries in developing economies such as India is expected to drive the growth of the global market during the forecast period. Moreover, rapidly increasing global temperature and increasing positive policies of governments towards electric vehicles provide more opportunities for the growth of portable battery market. Recently lithium-ion polymer-based batteries have been used in automotive electronics. The portable batteries are connected in parallel to create an energy storage system with battery management software to power devices in an emergency.

Tech giants from the automotive and energy industries in North America and Europe have shown a positive impact on the global portable battery market. Moreover, increased awareness of environmental and eco-friendly products has led to the demand for electric vehicles. The presence of Tesla as the largest electric car company and the rapidly advancing technology to make electric cars more comfortable and efficient for consumers are one of the key drivers for the market.