Portland, OR, Jan. 11, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the Japan mobile battery market generated $0.92 billion in 2020, and is expected to reach $1.43 billion by 2030, registering a CAGR of 4.5% from 2021 to 2030.
Rise in demand for smartphones, tablets, and other electronic devices drives the growth of the Japan mobile battery market. However, high cost associated and potential risks hazards associated with lithium-ion batteries hinder the market growth. On the contrary, high energy efficiency requirements in technologically updated consumer gadgets are expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic led to strict regulations regarding import & export, which disrupted the supply chain and hampered the demand for mobile batteries in Japan. Moreover, the lockdown regulations forced manufacturing facilities to shutdown or work at half of the total capacity.
- However, the market is expected to get back on track as the number of vaccination drives increase and production in various industries resumes at full potential.
The report segments the Japan mobile battery market on the basis of type, application, sales channel, and region.
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Based on type, the lithium-ion battery is projected to register the highest CAGR of 4.6% during the forecast period. In addition, the segment held the largest share in 2020, accounting for nearly three-fourths of the market. The report also includes an analysis of nickel-based and other segments.
On the basis of application, the smartphone segment is estimated to portray the highest CAGR of 4.8% from 2021 to 2030. In addition, the segment dominated the market in 2020 in terms of revenue, contributing to more than fourth-fifths of the market. The research also analyzes the non-smartphone segment.
Based on sales channel, the online segment is expected to showcase the highest CAGR of 4.6% during the forecast period. However, the offline segment held the largest share in 2020, accounting for more than half of the market.
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The Japan mobile battery market report includes an in-depth analysis of the prime market players such as Samsung SDI Co., Ltd., Panasonic Corporation, Murata Manufacturing Co., Ltd., EEMB, LG Corporation, Maxell, Ltd., Sunwoda Electronic Co., Ltd., Zhuhai CosMX Battery Co., Ltd., TianJin Lishen Battery Joint-Stock Co., Ltd., and Amperex Technology Limited.
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