IMARC Group’s latest report, titled “Battery Charger Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global battery charger market size reached US$ 22.98 Billion in 2021. A battery charger refers to a type of external device used for passing an electric current through a secondary cell or rechargeable battery to transfer energy. It converts high voltage AC into low voltage DC with the help of a transformer. It can be powered through a wall outlet, carport and computer USB port. In recent years, battery chargers have gained immense preference as they cater to different functions without the need for separate cables. The market is also driven by product miniaturization, making the chargers faster and more powerful, yet increasingly compacts.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Battery Charger Market Trends:
The global battery charger market is primarily driven by the growing application of battery chargers across the healthcare, automotive and consumer electronics industries. Battery chargers are widely utilized in portable devices like smartphones, smartwatches, laptops, tablets, and digital cameras. There has also been the rising use of battery chargers for charging wearable medical devices, including hearing aids, blood glucose monitors, blood pressure machines, and diagnostics monitoring patches. Besides this, the rising environmental concerns have escalated the demand for electric vehicles (EVs) and connected devices, thereby increasing the need for battery chargers across the globe. Furthermore, manufacturers are continually engaging in research and development (R&D) activities to launch innovative products, like smart, wireless, and high-temperature resistant chargers, which is bolstering the market growth. Looking forward, the market value is expected to reach US$ 32.41 Billion by 2027.
- Based on the application, smartphones account for the largest market share. Other major segments include laptops, electric vehicles, tablets, digital cameras, and feature phones.
- On the basis of the category, the market has been bifurcated into original equipment manufacturer (OEM) and replacement battery chargers. Amongst these, the OEM segment accounts for the majority of the market share.
- Based on the product type, wired battery chargers represent the most popular product type, followed by wireless battery chargers.
- Region-wise, Asia Pacific exhibits a clear dominance in the market. Other major regions are North America, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been examined, with some of the key players being Anoma Corporation, Accutronics Limited, Analytic Systems Ware Ltd., Exide Technologies, Associated Equipment Corporation, Energizer Holdings Inc., Ferro Magnetics Corporation, Panasonic Corporation of North America, FRIWO AG, HindlePower, Inc., 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. (Rayovac Division), Uniross Batteries S.A.S and Yuasa Battery Inc.
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