According to the latest report by IMARC Group, titled “Battery Charger Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global battery charger market size reached US$ 24.5 Billion in 2022. Battery charger refers to a device that stores energy in a battery by passing an electric current. It is manufactured using several components, such as a transformer, diode, fuse, voltage regulator, variable resistors, wires, and input and out cables. A battery charger converts the high-voltage alternating current (AC) into a low-voltage direct current (DC) via a transformer. It is widely used in consumer electronics, automobiles, boats, and industrial machinery. A battery charger is cost-effective and convenient, protects batteries, provides continuous monitoring, and offers reliable charging. It also aids batteries in achieving optimal performance and extends their service life by preventing overcharging, undercharging, and pressure build-up.
Battery Charger Market Trends:
The significant growth in the electronics industry across the globe is one of the primary factors driving the market growth. The battery charger is widely used to recharge batteries in various electronic devices, such as smartphones, laptops, tablets, cameras, handheld video game consoles, torch lights, hair trimmers, portable drilling machines, toys, radios, electric toothbrushes, speakers, and music players. Furthermore, the widespread product utilization in the automotive industry to charge batteries in electric cars, scooters, bicycles, and hybrid vehicles is providing an impetus to the market growth. In addition to this, the implementation of various government initiatives to promote the adoption of electric vehicles (EVs) due to rising environmental pollution and global warming is acting as another growth-inducing factor. Moreover, a battery charger is used by manufacturers to charge various industrial equipment, such as electric forklifts, utility vehicles, ground support equipment, and construction machinery, which is propelling the market growth. Additionally, the introduction of smart battery chargers that are safe, shock-proof, provide charging status, maintain battery health, offer switchable charging modes, and improve battery longevity is positively influencing the market growth. Apart from this, the recent development of embedded battery chargers that reduce the requirement for additional outlets, improve charging rates, allow power sharing with other devices, and offer compatibility with various battery chemistries is favoring the market growth. Other factors, including the rapid proliferation of smartphones, easy product availability across e-commerce platforms, and the introduction of advanced products, such as portable, wireless, and solar-powered chargers, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 33.1 Billion by 2028, exhibiting a CAGR of 4.9% during 2023-2028.
- On the basis of the application, the market has been divided into smartphones, laptops, electric vehicles, tablets, digital cameras, feature phones, and others.
- Based on the category, the market has been bifurcated into OEM and replacement.
- On the basis of the product type, the market has been classified into wired and wireless.
- On a regional basis, the market has been categorized into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the industry has also been examined, with some of the key players being 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.
|Base Year of the Analysis
||Application, Category, Product Type, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||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
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