IMARC Group’s latest report, titled “Battery Charger Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global battery charger market size reached US$ 24.5 Billion in 2022. 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.
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$ 33.1 Billion by 2028.
- Based on the application, the market has been classified into smartphones, 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.
- Based on the product type, the market has been segmented into wired and 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., Uniross Batteries S.A.S and Yuasa Battery Inc.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal