Battery Charger Market: Global Industry Analysis and Forecast (2023-2029)

Battery Charger Market size was valued at US$ 23.26 Bn. in 2022 and the total revenue is expected to grow at CAGR 5.94% through 2023 to 2029, reaching nearly US$ 34.84 Bn.
Battery Charger Market Overview:
The battery charger is a device used to transfer energy into a cell or battery by passing an electric current through that cell or battery. Battery chargers transform alternating current into direct current to the battery. Battery chargers devour high voltage alternating current (AC) power and convert them into low voltage direct current (DC) power to charge all rechargeable batteries or cells. The power in battery chargers is adjusted higher or lower than the battery power. Currently, the expansion of the electronics industry is the primary reason catalyzing the demand for battery chargers.To know about the Research Methodology :- Request Free Sample Report
Battery Charger Market Dynamics:
The battery Charger market is showing northward direction growth, thanks to the continuous rise in the production and sales of battery-driven electronic products and equipment, coupled with the advancement of new efficient battery technologies has prompted the growth of the global battery chargers market across the globe. The Battery Charger has a wide range of applications and is used in major end-use industries, such as automotive, telecommunications, industrial, information technology, and consumer electronics are the major driver for the battery charger market.

Currently, the expansion of the electronics industry is the key factor driving the demand for battery chargers. Increasing demand for electrical vehicles (EVs) and connected devices acts as another major force stimulating the growth of the battery charger market. For instance, in 2021, sales of electric cars topped 0.0021 Billion globally and represent 6.1% growth from previous. Currently, during the first half of 2021, a total of 0.00265 billion new EVs sales fuel the demand for battery chargers across the globe.

Key players such as Exide Technologies, Analytic Systems Ware Ltd., and CLARIOS (US) are focusing on strategic expansions by expanding production capacity, to increase their market presence. For Instance, CLARIOS (US) has a presence in more than 150 Countries, and Panasonic Corporation comprises 582 consolidated companies across the globe. These companies plan to refine their batteries for the automotive segment and especially for Electric Vehicles. Speedy advances in rechargeable battery technology in line with manufacturers' persistent emphasis on developing new functional characteristics and manufacturing battery chargers in smaller and lighter setups is having a noteworthy impact on the battery chargers market. In addition, a large number of consumers have been attracted by the wide range of products offered by battery charger market players, resulting in an expanding market for the battery charger.
Battery Charger Market Segment Analysis:
Based on the product type, the Battery Charger Market is segmented into Wired and Wireless. The Wireless Battery Charger segment is expected to witness rapid growth at a CAGR of 7.9% during the forecast period and the global wireless charging market held the largest market share and was valued at the US $ 10.49 Billion in 2022. Wireless battery charger eliminates the cable typically required to charge appliances. The wireless charger has numerous benefits such as universal compatibility, more durability, safer connections, great convenience, and others that are driving the market growth for this segment.

Based on Application, the Battery Charger Market is segmented into Smartphones, Laptops, Electric Vehicles, Tablets, and others. The Smartphones Battery Charger segment accounted for the largest share 40.23 % in 2022. Increasing smartphones product penetration coupled with easy accessibility for the consumer is driving the battery charger demand for this segment. The Electric Vehicle Battery Charger segment is expected to witness rapid growth with a CAGR of 7.52% during the forecast period. The Vehicle Charger market size was valued at US $ 4.09 Billion in 2022. Increasing usage of Battery chargers for the electric vehicle is expected to boost the growth of the Battery Charger market during the forecast period.
Battery Charger Market Regional Insights:
North America region held the largest market share accounting for 37.83 % and it was estimated at US$ 7.69 Billion in 2022. The growth in the region is supported by the presence of major producers and consumers in the region. This region is expected to remain the dominant in the market, as substantial demand for the battery charger for various other industries including Automotive, Telecommunications, information technology, and consumer electronics.

Asia Pacific region is expected to witness a significant CAGR of 7.98% during the forecast period. China world's second-largest economy is expected to reach an estimated market size of US $ 7.34 Billion at the end of the forecast period. The growing automotive industry in the Asia Pacific region is expanding at a significant pace. In addition Demand for electric vehicles is increasing in the region, driving the battery charger market growth for this region.

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The reports also help in understanding the Trampoline Market dynamic, structure by analyzing the market segments and projecting the Trampoline Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Battery Charger Market make the report investor’s guide.
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Battery Charger Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 23.26 Bn.


Forecast Period 2023 to 2029 CAGR:
5.94%
Market Size in 2029:
US $ 34.84 Bn.


 Segments Covered:
by Product
Wired
Wireless


by Application
Smartphones
Laptops
Tablets
Feature Phones


by Category
OEM
Replacement



Battery Charger Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Battery Charger Market Key Players are:
1. Accutronics Limited
2. Analytic Systems Ware Ltd.
3. Anoma Corporation
4. Associated Equipment Corporation
5. Energizer Holdings Inc.• Exide Technologies
6. Ferro Magnetics Corporation
7. FRIWO AG
8. Hindle Power Inc.
9. Panasonic Corporation of North America
10.Phihong USA Corporation
11.Powerbase Industrial (HK) Ltd.
12.Saft S.A
13.Salcomp Plc.
14.Schumacher Electric Corporation
Frequently Asked Questions:
1] What segments are covered in the Battery Charger Market report?
Ans. The segments covered in the Battery Charger Market report are based on Product Type, Application,and Category.

2] Which region is expected to hold the highest share in the Battery Charger Market?
Ans. The North America region is expected to hold the highest share in the Battery Charger Market.

3] What is the market size of the Battery Charger Market by 2029?
Ans. The market size of the Battery Charger Market by 2029 is US $ 34.84 Bn.

4] Who are the top key players in the Battery Charger Market?
Ans. Accutronics Limited, Analytic Systems Ware Ltd., Anoma Corporation, Associated Equipment Corporation, Energizer Holdings Inc., Exide Technologies, Ferro Magnetics Corporation, FRIWO AG, Hindle Power Inc., Panasonic Corporation of North America, Phihong USA Corporation, Powerbase Industrial (HK) Ltd., Saft S.A, Salcomp Plc., and Schumacher Electric Corporation.

5] What was the market size of the Battery Charger Market in 2022?
Ans. The market size of the Battery Charger Market in 2022 was US $ 23.26 Bn.