Wall Charger Market Size, Share, Growth, and Industry Analysis, By Type (1 Port, Multi Ports, Wire-Chargers), By Application (Smartphone, Feature Phone, Tablet, Smart Watch, Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 15 April 2024

Wall Charger Market Report Overview

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The global wall charger market size was 4328.6 million in 2022 and is expected to reach USD 5797.56 million by 2031, exhibiting a CAGR of 3.3% during the forecast period. 

It transforms the outlet's AC power into DC before supplying the device with a certain voltage. It enables users to charge various electronic devices, including laptops, tablets, and cell phones. A mounting plug socket with USB ports is what it is. It offers a location in a wire system where current to operate electrical equipment can be obtained.

In recent years, consumers have taken energy efficiency and usage of electricity into consideration while selecting any charger for their electronic gadgets. Start-ups must provide a few more features, such as support for charging several devices simultaneously, low energy consumption, and safeguarding against current fluctuation. It is anticipated that a focus on innovation would create attractive prospects for new entrants and the market.

COVID-19 Impact: Reduced Demand from Several Industries to Deplete Market Advancement

The COVID-19 pandemic has been unprecedented and staggering, wall charger experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has a conflicting impact on the charging industry.  Due to the outbreak and the rise in people working from home, there is a greater demand for chargers for charging their laptops, cameras, and various other electronic devices. During the early stages of the pandemic, there was an acute shortage of the electricity parts and materials required to produce chargers because to disruptions in global supply networks. This led to a delay in the production and distribution of chargers. Additionally, the pandemic-related temporary store closures caused a fall in retail store sales.

LATEST TRENDS

"Increment in Product Availability to Stimulate Market Development  "

The market is projected to expand as mobile device penetration rises. Because they are more practical and accessible, charger are needed to charge devices including mobile phones and tablets. Because of the dependence on mobile devices and the extensive use of online services for daily tasks, the power usage of these devices has increased, necessitating frequent use of charger. Because of this, the utilization of charger has increased, which is expected to drive up the market value.

Additionally, the growth of the market is positively impacted by the increase in accessibility and availability of high-quality android chargers. To give customers a wide selection of chargers to choose from, businesses are concentrating on increasing product availability on multiple both traditional and digital distribution channels.

Wall Charger Market Segmentation

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• By Type

Based on type; the market is divided into 1 port, multi ports, wire-chargers

1 port is the leading part of the type segment.

• By Application

Based on the application; the market is divided into smartphone, feature phone, tablet, smart watch, others

Smartphone is the leading part of the application segment.

DRIVING FACTORS

"Technological Advancements to Aid Market Expansion "

New smartphones are being released with enhanced functionality and capabilities, however continuous use of these functions accelerates battery consumption on mobile devices. Customers want charging choices that are quick and easy. The requirement for the device is expected to increase as a result of new technological advancements, including wireless charging, rapid charging, and USB Type C charging, as consumers have better options to suit their demands. Thus, it is anticipated that technological advancements in the manufacturing of personal electronic gadgets will increase the wall charger market share.

"USB Type C Chargers to Foster Industry Progress  "

Due to the increase in the production of electronic gadgets with Type C ports, the Type C category is expected to hold the majority of market share. Governments also intend to enact the "1 charger for all" policy, whereby the USB C charging is anticipated to be the standard charging for all devices. According to a press release from the European Parliament on June 7, 2022, all smartphones, tablets, and webcams will use USB Type C as their standard charger by the year 2024. Therefore, the spike popularity in USB Type C chargers is probably going to present profitable wall charger market growth opportunities.

RESTRAINING FACTORS

"Consumption of More Electricity by the Device to Hinder Market Advancement  "

Wall chargers require more electricity than USB chargers do, and some of that electricity is squandered because the chargers radiate heat while not in use. Even when no devices are connected or being charged, power is lost when the charger is inserted into the wall. This important issue is anticipated to somewhat impede market expansion moving forward.

Wall Charger Market Regional Insights

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"Frequent Downloading of Digital Content in Asia Pacific to Support Market Advancement  "

Due to the widespread use of wall chargers for gadgets including smartphones, tablets, battery banks, and smartwatches, the Asia Pacific market is anticipated to hold the biggest earnings share in the worldwide wall charger market. China is the world's leading producer and consumer of wall chargers of all kinds. The use of tablets and cell phones is growing, which is increasing the need for wall chargers.

Over the course of the forecast period, the region's wall charger market share is anticipated to experience consistent revenue growth. Users in the region are very active on social media sites, creating vlogs and frequently downloading digital content and streams. In the region's nations, the tendency to operate remotely or from residence is more prevalent. Additionally, a greater proportion of people favor presenting programs on well-known streaming platforms and channels as well as video conferencing and calling. These are some of the elements promoting market expansion in the area, and the upward trend is anticipated to continue.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

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.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• BYD IT (China)
• Salcomp (India)
• Huntkey (China)
• Flex Ltd (U.S.)
• Chenyang Electronics (China)
• Dongyang E&P (China)
• SUNLIN (China)
• Phihong (China)
• PI Electronics (China)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.