Battery Charger Market Size, Share, Growth, And Industry Analysis, By Type (Switch-mode Charger, Fast Charger, Low Power Charger, Multicell Charger, Standalone Charger, Linear Charge, High Power Linear Charging, Wearable Friendly, Others), By Application (Medical & Healthcare Device, Consumer Electronics, Fitness Equipment, Industrial Equipment, Transportation Tool), Regional Forecast From 2023 To 2030

Updated On: 01 April 2024

Battery Charger Market Report Overview

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The global battery charger market size was USD 23.361 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the Battery Charger market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 36.133 billion in 2028, exhibiting a CAGR of 7.54% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

An electric current is used to transfer energy into a rechargeable battery using a device known as a battery charger. The constant voltage source must manually disconnect some battery chargers, whereas others may utilize a timer to turn off the power at set intervals. The growth of the electronics sector is currently the main driver of the need for battery chargers. Another significant factor driving the growth of the battery charger market is the rising demand for electric vehicles (EVs) and connected gadgets.

Numerous market trends throughout the years, such as miniaturization, have made these chargers more potent and quick while also getting smaller in size. Furthermore, several advancements have been achieved to allow battery chargers to accommodate diverse purposes without the need for separate cords. Manufacturers are also encouraged to provide secure and quick charging methods by increasing focus and knowledge on the significance of charging management. In addition, manufacturers have unveiled cordless, intelligent, and high-temperature-resistant battery chargers to broaden their user base.

COVID-19 Impact: Market to Experience Growth Challenges Owing to the Pandemic

European utilities reduce their planned investments as governments work to conserve money and deal with supply chain delays and other issues brought on by the coronavirus's spread. During the global COVID-19 outbreak, several end-use industries like marine, manufacturing, IT, and oil and gas have also suffered detrimental effects. The global market for industrial battery chargers is then anticipated to experience growth challenges as a result. The sudden COVID-19 epidemic has accelerated a global economic catastrophe that everyone is currently experiencing. With the entire lockdown imposed by the governments of various countries, the majority of businesses have suffered. There has been a steady decline in demand worldwide for industrial battery chargers used to charge huge battery banks. Industry sectors impacted by the coronavirus pandemic include the energy and electricity sectors.

Latest Trends

"Market to Witness Significant Impact By Rapid Advancements"

The global market for battery chargers has expanded over the years as a result of the steady increase in the manufacturing and sales of battery-powered electronic devices and machinery as well as the creation of a completely new class of battery technologies. The market for battery chargers is primarily driven by the increasing energy storage requirements of electronic devices and equipment utilized in key end-use industries such as automotive, industrial, information technology, telecommunications, and consumer electronics. The market for battery chargers is being significantly impacted by the rapid advancements in rechargeable battery technology and manufacturers' unwavering focus on incorporating new functional qualities and producing them in smaller and lighter formats.

Battery Charger Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Switch-mode Charger, Fast Charger, Low Power Chargers, Multicell Charger, Standalone Chargers, Linear Charge, High Power Linear Charging, Wearable Friendly, and Others.

• By Application Analysis

Based on application, the market can be divided into Medical & Healthcare Devices, Consumer Electronics, Fitness Equipment, Industrial Equipment, and Transportation Tools.

Driving Factors

"Expanding Energy Distribution and Transmission Infrastructure Supported bby the Government Will Result In Market Growth"

The market for battery chargers has grown as a result of expanding energy distribution and transmission infrastructure supported by favorable government financing and investments. The market will see expansion over the next few years thanks to the flourishing trend of sustainability across the IT & data centers, mining, and energy & power industries. Additionally, as smart grid use accelerates across a wide range of end-use industries, industrial battery charger choice will increase, particularly in India and other emerging economies.

Certain macroeconomic, industrial, and innovation factors, such as the growth of the manufacturing sector, the development of mining and infrastructure, the expansion of the power industry, economic growth, and an increase in FDI flow in developing countries, have had a significant impact on the market. According to current estimates, the demand for electric vehicles has increased relative to the demand for traditional IC Engine vehicles, which has increased the growth prognosis. The industrial battery charger market is growing primarily as a result of this.

"Rapid Advancements in Rechargeable Battery Technology"

The market for battery chargers is being significantly impacted by the rapid advancements in rechargeable battery technology, which are in line with manufacturers' unwavering focus on incorporating new functional qualities and manufacturing them in smaller and lighter formats. To improve performance and assure safety while keeping up with the shifting dynamics of the automotive, industrial, information technology (IT), telecommunications, and consumer products markets, several of the developing battery technologies call for more complex charging procedures. The battery chargers market has seen a steady flow of innovative designs with highly efficient and more accurate charge circuitry, with the ability to charge in less time while ensuring that the electronic system remains cool and safe, to meet the ever-growing needs. A compelling argument has been made for market expansion in recent years by new battery chargers with straightforward designs, faster-charging capabilities, and longer battery runtimes.

Restraining Factors

"Disadvantages of the Product May Affect the Market Demand"

A rechargeable battery tends to lose power more quickly when not in use than disposable batteries, although this drawback almost completely disappears when the battery is in use. When choosing batteries, it's crucial to take this attribute into account with other elements. Battery disposal is a pain, so if you choose rechargeable batteries and make a schedule for regular inspection, you can end up saving money over time. Unlike disposables, rechargeable batteries offer consistent performance over time. Consider the differences between the batteries in your phone and the flashlight (which uses a disposable battery): the flashlight's beam will get dimmer as the battery drains, yet your phone will continue to work normally until the battery expires. Rechargeable batteries that drain slowly could render your gadget powerless if there is not a reliable way to gauge the amount of power left. This factor may impede the battery charger market growth.

Battery Charger Market Regional Insights

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"North America is Anticipated to Continue to Dominate the Market"

The region of North America held the biggest battery charger market share. The presence of significant manufacturers and consumers in the area supports the region's growth. Due to the significant need for battery chargers from several other industries, such as Medical and healthcare devices, Industrial equipment, information technology, and consumer electronics, this area is predicted to maintain its market dominance.

Key Industry Players

"Key Players Focus on Steady Flow and Innovative Designs"

The battery chargers market has seen a steady flow of innovative designs with highly efficient and more accurate charge circuitry, with the ability to charge in less time while ensuring that the electronic system remains cool and safe, to meet the ever-growing needs. A compelling argument has been made for market expansion in recent years by new battery chargers with straightforward designs, faster-charging capabilities, and longer battery runtimes.

List of Market Players Profiled

• Texas Instruments
• Intersil Corporation
• Nippon Precision Circuits Inc
• Sanyo Semicon Device
• Linear Integrated Systems.
• Richtek Technology Corporation
• AUK corp
• Maxim Integrated Products
• Astrodyne Corporation
• New Japan Radio
• STMicroelectronics
• Fujitsu Component Limited.
• Advanced Analog Technology, Inc.
• Mean Well Enterprises Co., Ltd.
• Monolithic Power Systems
• Linear Technology
• Microsemi Corporation
• Advanced Analogic Technologies
• Renesas Technology Corp
• Summit Microelectronics, Inc.

Report Coverage

The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment markets by type, application, and region, and, as a result, provides a holistic view of, as well as a deep insight into the Battery Charger market covering all its essential aspects. For the competitive landscape, the report also introduces players in the industry from the perspective of the market share, concentration ratio, etc., and describes the leading companies in detail, with which the readers can get a better idea of their competitors and acquire an in-depth understanding of the competitive situation. Further, mergers & acquisitions, emerging market trends, the impact of COVID-19, and regional conflicts will all be considered.