NEW YORK , Aug. 4, 2022 /PRNewswire/ -- As per Zion Market Research study, The global battery chargers market size was worth around USD 24 billion in 2021 and is predicted to grow to around USD 33 billion by 2028 with a compound annual growth rate (CAGR) of roughly 7.15% between 2022 and 2028.
A battery charger, also referred to as a recharger, is a device that aids the storage of energy in a battery by letting electricity run through it. The charging protocol which involves properties like voltage strength, length of the current flow, and time required for complete recharge depends on the type and size of the battery that is being charged. There are certain batteries that have a higher tolerance for overcharging and are able to function even when connected to a constant current flow. In such cases, a manual battery charger is more widely used which requires the user to disconnect the charger once the complete charging capacity is reached. Some of the more advanced devices use timers to disconnect the charging supply once they are fully charged. While using battery chargers, it is highly recommended, at least while using certain devices like laptops, phones, etc. to avoid overcharging since the product, with time, may not be able to withstand the overcharge leading to the product getting damaged like a reduced lifetime or functional capacity.
All kinds of battery chargers run on one common concept which is running an electric current through batteries for a certain period of time hoping that the battery cells will hold and store some of the electric energy passing through them. Low-quality or inexpensive chargers use a constant current supply till the time they are connected. Once they are disconnected, the charging stops. The high-quality charges use trickle charge which is around 3 to 5% of the battery's maximum rated current and run for a longer period of time.
Get a Free Sample Report with All Related Graphs & Charts (with COVID 19 Impact Analysis): https://www.zionmarketresearch.com/sample/global-battery-chargers-market
Our Free Sample Report Includes:
2022 Updated Report Introduction, Overview, and In-depth industry analysis
COVID-19 Pandemic Outbreak Impact Analysis Included
210 + Pages Research Report (Inclusion of Updated Research)
Provide Chapter-wise guidance on Request
2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
Includes an Updated List of tables & figures
Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
Key Industry Insights & Findings of the Battery Chargers Market Reports:
· As per the analysis shared by our research analyst, the Battery Chargers Market is expected to grow annually at a CAGR of around 7.15 % (2022-2028).
Through the primary research, it was established that the Battery Chargers Market was valued at approximately USD 24 billion in 2021 and is projected to reach roughly USD 33 billion by 2028.
The global battery charger market was led by North America with over 38% of the market cap and is expected to follow the same trend during the forecast period owing to the presence of key players in regions like the USA , Canada , and Mexico . The regional growth may also be attributed to the advanced and constantly growing telecommunication sector which is propelled by an increasing number of innovations to upgrade technology.
The USA houses some of the biggest telecommunication players like AT&T, Verizon, etc. In 2022, AT&T managed to generate a revenue of USD 176.7 Billion whereas Verizon generated more than USD 128 Billion .
Asia-Pacific may also grow significantly and a CAGR of 8% is projected to be recorded in the region. China may lead the regional growth with a revenue of USD 7 billion by 2028.
There is a growing need and demand for fast charging batteries and battery chargers that can support fast charging without hampering the performance of the product.
Zion Market Research published the latest report titled "Global Battery Chargers Market By Technology (Smart, Solar, and Conventional), By Application (Vehicles, Electronic Products, Industrial Machinery, and Others), By Product Type (Wireless and Wired), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.
Battery Chargers Market: Growth Drivers
Rise in battery-driven products to encourage market growth.
The global battery chargers market is expected to grow owing to the technological advancements witnessed around the globe. Almost all objects present either in a homecare setting or in an official environment run on batteries. Digitalization can be witnessed deep within the sectors as well which is a major contributor to the rise in the demand for battery chargers. Some of the examples include shifts from stationary electronic devices to portable ones like smartphones, tablets, laptops, etc. This has resulted in a higher adoption trend for battery-operated devices subsequently affecting the demand for their chargers. The growth in the vehicle segment is expected to push the global market growth exponentially in the coming years. Fuel-run vehicles did not need batteries or their chargers; however, there is a significant growth in the electric-vehicle (EV) segment with a rising number of market players providing excellent options to end consumers. More than 6.8 million EVs were sold in 2021 which is double the amount sold a decade ago. Rickshaws, which are one of the most common modes of transportation in developing regions like India , Malaysia , and other South Asian countries have now turned into electricity-run rickshaws which are expected to contribute heavily to the growth in the global market size.
Safety issues related to poor quality battery chargers to restrict market expansion.
The global market is full of battery chargers ranging in capacity, size, price, and other technical aspects. Some of the low-priced products may not be safe to use and there are a growing number of accidental cases related to the use of low-quality chargers. These cases are not just related to the deteriorated performance of the electronic device but have been more serious in certain situations. Safety concerns may arise due to poor control panels or defects. Lithium-ion batteries are prone to catching fire since they are extremely sensitive to high temperatures and using unassigned chargers may cause the temperature of the battery to shoot up resulting in extremely dangerous situations.
Directly Purchase a Copy of the Report @ https://www.zionmarketresearch.com/buynow/su/global-battery-chargers-market
Rise in domestic players to provide market expansion opportunities.
The global market cap may find high growth opportunities owing to the rising competition in the battery-operated devices market. This is propelled by the growth in the number of domestic players along with exhaustive market penetration activities undertaken by well-established and international players. The global market has seen a rise in some of the world-class and entirely different sections of battery-run technologies that are finding more space in some of the emerging economies as well. In 2019, more than 81% of the general population was reported to be using smartphones, which increased from 65% in 2015. Such a high and continuously growing usage rate of technologically advanced devices which mostly run on batteries is expected to provide lucrative growth opportunities for the global market size.
Complexities in developing fast-charging batteries to challenge market growth.
There is a growing need and demand for fast charging batteries and battery chargers that can support fast charging without hampering the performance of the product. The EV segment is one such sector where the consumers demand chargers and batteries that do not consume more time for the charging to get completed. However, there are a lot of technicalities involved in developing such chargers, especially keeping in mind the battery design, infrastructure of charging facilities, and battery chargers. The global market has to pick up the pace in rolling out chargers that meet the growing demand or else it may create challenges for the global market to reach its true potential.
Global Battery Chargers Market: Segmentation
The global battery chargers market is segmented by technology, application, product type, and region.
Based on technology, the global market segments are smart, solar, and conventional. The global market may witness high growth in the smart segment owing to the increasing development in the field of smart devices. Over 1.4 million units of smartphones were sold worldwide in 2021.
Based on application, the global market segments are vehicles, electronic products, industrial machinery, and others. Vehicle charger segments may come out as one of the most promising sectors propelled by the rising sales of EVs. The global EV charger market may reach up to USD 26 billion by 2027.
Based on product type, wireless and wired are the two main global market segments. Currently, wired chargers are more commonly used since the majority of the application runs on wired charging cables. However, with the growth in technology, wireless chargers may soon gain greater momentum in the coming years. From 2018 to 2022, Apple managed to sell more than 6 billion units of wireless chargers.
Get More Insight before Buying@: https://www.zionmarketresearch.com/inquiry/global-battery-chargers-market
List of Key Players in Battery Chargers Market:
Key questions answered in this report:
What are the growth rate forecast and market size for Battery Chargers Market?
What are the key driving factors propelling the Battery Chargers Market forward?
What are the most important companies in the Battery Chargers Market Industry?
What segments does the Battery Chargers Market cover?
How can I receive a free copy of the Battery Chargers Market sample report and company profiles?
By Product Type, By Application, And By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Analytic Systems Ware Ltd., Accutronics Limited, Energizer Holdings, Inc., FRIWO AG, Hop Wo Enterprise Limited, Charging Technologies Inc, Kolvin Industries Ltd., Associated Equipment Corporation, Kussmaul Electronic Co., Inc., Exide Technologies, HindlePower, Inc., Anoma Corporation, and Jeckson Electric Co., Ltd
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Avail of customized purchase options to meet your exact research needs.
https://www.zionmarketresearch.com/custom/7027
Free Brochure: https://www.zionmarketresearch.com/requestbrochure/global-battery-chargers-market
In February 2022 , ABB, a multinational organization specializing in energy solutions launched a new charger for electric vehicles. The newly launched product is capable of charging EVs in a span of 15 minutes and is claimed to provide the fastest charging experience in the global market.
In August 2021 , Western Digital launched two new wireless battery chargers with fast charging, data sync accompanied with automatic backup, and other features. The product launch has aided the company in making its entry into the wireless charging segment and the products are named SanDisk Ixpand Wireless Charger 15W that is coupled with an adaptor and SanDisk Ixpand Wireless Charger Sync.
North America to continue dominating the market during projection period.
The global battery charger market was led by North America with over 38% of the market cap and is expected to follow the same trend during the forecast period owing to the presence of key players in regions like the USA , Canada , and Mexico . The regional growth may also be attributed to the advanced and constantly growing telecommunication sector which is propelled by an increasing number of innovations to upgrade technology. The USA houses some of the biggest telecommunication players like AT&T, Verizon, etc. In 2022, AT&T managed to generate a revenue of USD 176.7 Billion whereas Verizon generated more than USD 128 Billion .
Asia-Pacific may also grow significantly and a CAGR of 8% is projected to be recorded in the region. China may lead the regional growth with a revenue of USD 7 billion by 2028. This may be accorded to the heavy investment in upgrading infrastructure and the electronics market sector.
Global Battery Chargers Market is segmented as follows:
Battery Chargers Market: By Technology Outlook (2022-2028)
Battery Chargers Market: By Application Outlook (2022-2028)
Battery Chargers Market: By Product Type Outlook (2022-2028)
Battery Chargers Market: By Region Outlook (2022-2028)
Rest of Middle East & Africa
Press Release For Battery Chargers Market: https://www.zionmarketresearch.com/news/global-battery-chargers-market
Browse Other Related Research Reports from Zion Market Research
Green Energy Market - Global Industry Analysis: The global green energy market was valued at $900B in 2021 and is expected to grow at a CAGR of 8.5% by 2028 and generate a market revenue of $1,950B during the forecast period.
Finished Lubricant Market - Global Industry Analysis: The global Finished Lubricant Market accrued earnings worth approximately 158 (USD Billion) in 2020 and is predicted to gain revenue of about 187(USD Billion) by 2028, is set to record a CAGR of nearly 3.2% over the period from 2021 to 2028.
Overhead Conductor Market - Global Industry Analysis: The global Overhead Conductor market accrued earnings worth approximately 709(USD Million) in 2020 and is predicted to gain revenue of about 1,232 (USD Million) by 2028, is set to record a CAGR of nearly 3.1% over the period from 2021 to 2028.
Browse through Zion Market Research's coverage of the Global Energy & Mining Industry
Follow Us on: LinkedIn | Twitter | Facebook
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, and company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research 244 Fifth Avenue, Suite N202 New York , 10001, United States Tel: +49-322 210 92714 USA /Canada Toll-Free No.1-855-465-4651 Email: sales@zionmarketresearch.com Website: https://www.zionmarketresearch.com/ Blog: https://techpru.com/ http://thehealthypandas.com/ https://www.custommarketinsights.com/
Logo: https://mma.prnewswire.com/media/1605489/Zion_Market_Research_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/statistics-on-battery-chargers-market-size--share-worth-over-usd-33-billion-by-2028--exhibit-a-cagr-of-7-15-industry-trends-demand-value-analysis--forecast-report-by-zion-market-research-301600032.html
The market is unstable. Your portfolio doesn’t need to be.
In this article, we will be taking a look at 10 stocks that will skyrocket. To skip our detailed analysis of cheaply-valued stocks that are set to gain in the future, you can go directly to see the 5 Stocks That Will Skyrocket. With the U.S. stock market plunging into bear territory, investors have typically […]
It's been a somewhat hectic August for Rivian . The startup, which is presented as one of Tesla's most serious rivals in the race for electric vehicles, is currently accumulating setbacks. The electric vehicle manufacturer has just announced mixed earnings for the second quarter.
The Oracle of Omaha knows how to beat inflation. So ride his coattails.
(Bloomberg) -- Saudi billionaire Prince Alwaleed Bin Talal invested more than $500 million in Russian firms in the days around Moscow’s invasion of Ukraine.Most Read from BloombergAnshu Jain, Deutsche Bank Chief in a Pivotal Era, Dies at 59Every Wall Street Trend Goes Haywire as Stock Bears Are CrushedTrump Search’s Revelations Open New Political Front for MidtermsExtreme Heat Uncovers Lost Villages, Ancient Ruins and ShipwrecksMorgan Stanley’s Shalett Warns of ‘Head Fake’ in Inflation DataPrinc
These passive-income giants, with yields ranging from 7.4% to 11.8%, have the potential to nearly triple investors' money by the turn of the decade.
Rogers knows how to survive — and thrive — in turbulent times.
Johnson & Johnson stock is hitting its lowest level since March. Here's where it's a steal of a deal.
Grantham remains ultra bearish. But this trio may offer some protection.
Many semiconductor stocks slumped this year as investors fretted over concerns about slowing sales of PCs and smartphones, the potential overproduction of chips in response to the global chip shortage, and more conservative enterprise spending in a tougher macro environment. As a result, the Philadelphia Semiconductor Sector index has declined about 24% this year as the S&P 500 retreated just 12%.
The super investor sees softness. But is sticking to her guns.
Inflation is still near multi-decade highs. Mr. Wonderful is using these stocks to fight back.
In this article, we discuss the top 10 winners of the Inflation Reduction Act 2022. If you want to see the top stocks in this category, check out The Inflation Reduction Act 2022: Top 5 Winners. The Inflation Reduction Act of 2022 was authorized by the U.S Senate on August 7, with the deciding vote […]
Retirees and those seeking secure income got two items of very good news this week, though you may only have heard about one. July’s inflation came in below fears (although a debate now rages on what the “real” inflation rate is—more on that below). Meanwhile, your ability to earn a guaranteed rate of return on risk-free investments, regardless of what happens to inflation, actually went up.
When economic uncertainty is as high as it is today, why not follow the lead of one of the world's greatest investors?
Inflation has been making headlines all year, and rightly so; it’s at 40-year high levels, driven by sharp increases in the prices of gasoline and diesel fuels. But oil and its various refined products have come down in recent weeks, and so – the July inflation numbers weren’t as bad as had been feared. The overall year-over-year price increase for the month came to 8.5%, still awful, but less than the 8.7% economists had been predicting. Markets these days are rallying in response. Whether this
The latest analyst coverage could presage a bad day for Lucid Group, Inc. ( NASDAQ:LCID ), with the analysts making...
On Friday, five of China's biggest state firms announced their exit from Wall Street. More delistings could be on the way as Washington and Beijing remained embroiled in a dispute over audit rules for U.S.-listed Chinese companies.
Upstart Holdings' (NASDAQ: UPST) stock price tumbled 12% on Aug. 9 after the online lending company posted its second-quarter earnings report. Instead, it acts as an intermediary for its lending partners, which then fund the actual loans and pay Upstart fees for accessing its platform.
Shareholders in Rocket Lab USA, Inc. ( NASDAQ:RKLB ) may be thrilled to learn that the analysts have just delivered a...