Portable Battery Market Regional Analysis:
APAC Market Statistics
APAC in portable battery market is poised to account for more than 45% revenue share by the end of 2035. The rapid adoption of smartphones across the region with an adoption rate of around 94% by 2030, particularly in India and Southeast Asia, is a key driver. With increasing digitalization and mobile internet usage, the demand for portable batteries, including power banks and internal device batteries, is soaring.
India is anticipated to register a considerable share during the forecast period in the APAC region. Government incentives for EV production and infrastructure development further contribute to this growth. In 2023, there were 15.29 million registered electric vehicles in India, up from 1.3 million in 2018. Additionally, the e-commerce boom has made portable batteries more accessible, while the increasing adoption of gadgets like tablets, laptops, and wearables supports market growth. These devices rely on compact, efficient, and long-lasting power solutions, fueling the portable battery market.
China is a prominent player in the AAPC industry. The country’s renewable energy adoption promotes the use of portable batteries for energy storage in off-grid solar and wind systems. Government incentives and policies encourage innovation and investment in portable battery solutions. The country has a booming consumer electronics industry that drives the demand for portable batteries. With high smartphone, laptop, and wearable device adoption, the need for compact, efficient, and durable batteries is rising, supporting market growth. China is a major mobile phone manufacturer, exporter, and consumer. It manufactured 1.47 billion mobile phones in 2020, thus propelling the market for portable batteries.
North America Market Analysis
The portable battery market in North America is predicted to generate notable revenue by the end of 2035. Industry reports highlight that U.S. EV adoption is significantly supporting the demand for portable batteries used in charging infrastructure, mobile solutions, and energy storage. In Q2 2024, around three-quarters of EVs sold in the U.S. were manufactured in North America. This demand is further supported by government incentives and regulations that encourage the adoption of EVs.
The U.S. market is projected to witness significant growth due to the increasing adoption of smartphones, laptops, tablets, and wearable devices. For instance, 13 million more Americans used the Internet in 2023 than in 2021, according to new NTIA data. These devices require efficient, rechargeable batteries to support advanced functionalities and extended usage, boosting market demand. Moreover, innovation in battery technologies, such as lithium-ion and solid-state batteries, enhances energy density, safety, and longevity, making portable batteries more reliable and adaptable to diverse applications.
Canada pushes toward electrification and sustainable transportation, boosting the demand for portable batteries, particularly for EV charging infrastructure and energy storage systems. Government incentives for EV adoption and growing public awareness of sustainability drive this trend. A USD 14.9 million federal investment for 20 initiatives aimed at promoting zero-emission vehicle (ZEV) regulations and rules, infrastructure, and education throughout Canada. Additionally, the country invests in solar and wind energy projects fueling the need for portable batteries for energy storage and utilization of renewable energy in remote and off-grid areas, aligning with clean energy goals.
