Battery Chargers Market Size, Share, Growth, and Industry Analysis, By Type (Simple charger, Intelligent charger, Pulse charger), By Application (Laptops, Smartphones, Feature Phones, EVs, Tablets, DSCs, Music Players, Portable Gaming Devices, Smartwatches), Regional Forecast To 2031

Updated On: 29 April 2024

Battery Chargers Market Report Overview

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The Battery Chargers Market size is expected to grow USD 17900 Million in 2022 to USD 32142.75 Million by 2031 at a Compound Annual Growth (CAGR) of 6.7% from 2022 to 2031.

The purpose of a battery charger is to inject energy into a cell or battery by running an electric current through it. The alternating current is converted to direct current and delivered to the battery-by-battery chargers. All rechargeable batteries or cells are charged by battery chargers using low-voltage direct current (DC) power, which transforms high-voltage alternating current (AC) power. Battery chargers can have their power set higher or lower than the battery power. The growth of the electronics sector is currently the main factor driving the demand for battery chargers.

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 demand of the electronics sector is currently the main driver of the need for battery chargers market growth. Another significant factor driving the growth of the battery charger market is the rising demand for electric vehicles (EVs) and connected gadgets.

COVID-19 Impact: Pandemic decreased the Market Demand

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. As governments work to conserve money and deal with supply chain interruptions and other delays caused by the spreading coronavirus, European utilities reduce their projected investment by 10% to 15%. During the global COVID-19 outbreak, several end-use industries like marine, manufacturing, IT, and oil and gas have also suffered detrimental effects.

Latest Trends

"New product development to fuel market growth"

The market for industrial battery chargers is extremely cutthroat. Leading companies are releasing new items with modernized technologies in an effort to keep their market share. For instance, Applied Power Systems (APS) introduced BC-6964, a three-phase industrial battery charger specifically made for applications in hazardous locations, in February 2020. EnerSys, which holds a market share of more than 15%, and ABB Ltd., which accounted for around 6-7% of the market for industrial battery chargers globally, are two of the more well-known firms on the international stage. Hitachi Ltd., Exide Technologies, Delta Q, GS Yuasa Corporation, AMETEK Inc., and Crown Battery Manufacturing Company are a few of the other top industry participants.

Battery Chargers Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Simple chargers, Pulse chargers, Intelligent charger

• By Application Analysis

Based on application, the market can be divided into Laptops, Smartphones, Feature Phones, EVs, Tablets, DSCs, Music Players, Portable Gaming Devices, Smartwatches

Driving Factors

"Proliferation of numerous industries to Stimulate Market Demand"

The market for battery chargers is driven by the proliferation of numerous industries, such as consumer electronics and telecommunications. In addition, the growing use of electric vehicles to lessen reliance on fossil fuels drives demand for smart batteries, which in turn drives demand for smart battery chargers. Furthermore, developments in energy technology are being fueled by the internet of things (IoT), which places a strong focus on gathering vast amounts of data from scattered nodes. For instance, the smart farm uses a large number of nodes scattered over hundreds of acres to gather information about the weather, soil moisture content, evaporation, and other factors. These nodes often run on batteries and depend on energy-gathering strategies like solar power to augment their battery capacity.

Restraining Factors

"High cost of battery to restrict market growth."

Some of the key challenges limiting the market's growth are the high cost of smart battery chargers and the high cost of replacement in the event of damage.

Battery Chargers Market Regional Insights

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"Growing Demand in North America Anticipated to Boost Market Expansion"

North America dominates the global market owing to the major share. The presence of significant manufacturers and consumers in the area supports the region's battery chargers market share. Due to the significant need for battery chargers from several other industries, such as automotive, telecommunications, information technology, and consumer electronics, this area is predicted to maintain its market dominance.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Development"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Accutronics
• Anoma
• Exide Technologies
• HindlePower
• Jeckson Electronics
• Lester Electrical
• Minwa Electronics

Report Coverage

This report examines an understanding of the battery charger’s market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.