Global Battery Chargers Market Report 2020: Product Innovations and Technology Developments Steer the Momentum
The “Battery Chargers – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
The global market for Battery Chargers is projected to reach US$26.5 billion by the year 2025, trailing a CAGR of 7.1% over the analysis period 2018 to 2025.
Batteries are omnipresent in this digital age of mobile computing. Smartphones, tablets, wearable’s, self-powered medical devices/implants & all electronic devices depend on batteries for power. Backup power solutions & automobiles i. e. conventional, hybrid and pure electric vehicles need batteries for operation. Automated material handling; forklifts; grid Energy Storage System (ESS) also need batteries. Robust demand for rechargeable batteries bodes well for market growth.
Rechargeable or secondary batteries constitute an important segment of the global batteries industry, and the demand for rechargeable batteries is witnessing rapid growth on the back of increasing sales of products that use these batteries. Unlike primary batteries that are known to add to the global waste stream, rechargeable batteries, with their reusable characteristics are considered a boon. Rechargeable batteries are hence more environmentally friendly and cheaper than conventional batteries. Conversely, although they offer longer cycle lives, these batteries are more toxic in nature.
Rechargeable batteries market is the most active in terms of development of new products and launch of new battery chemistries. The market received a great boost in the 1990s due to a jump in demand for high-drain portable electronic products, such as personal communication devices and laptop computers, which required batteries to be compact, yet powerful.
The overall rechargeable battery market is still undergoing a continuous and accelerated change process in order to respond to customer needs specifically with respect to longer life, reduced energy drainage, miniature batteries, while conforming to increasing pressure to comply with environmental regulations. As an indispensable accessory for all types of electronic devices