- The electronic segment has witnessed several major developments in the last ten years, because of which the smartphone penetration across the globe has increased significantly
- iOS and Android technological advancements are also pushing smartphone sales. This has had a direct impact on the growth of global charger market
ALBANY, N.Y, Nov. 23, 2020 /PRNewswire/ -- Transparency Market Research has now published a new research report that offers a detailed information about the global charger market. The research report tries to offer meaningful and actionable insights about the key segments, prominent growth drivers, restraining factors, geographical outlook, and the current situation of the vendor landscape of the global market.
According to the research report, the global chargers market is projected to showcase a healthy CAGR of ~6% over the course of the given forecast period ranging from 2020 to 2030. With the given rate of growth, the market is expected to reach a valuation over US$42.8 Bn by the fall of 2030.
Based on product, the global chargers market is segmented into timer-based charger, solar charger, motion-powered charger, fast charger, and conventional charger. Of these, the traditional or conventional charger has been dominating the global market over the years.
Based on type, the market is segmented into portable and fixed. Mobile chargers are expected to see a promising growth in the coming years of the forecast period.
In terms of connectivity, the global market is segmented into wireless and wired. The wireless charger segment is expected to witness promising growth opportunities in the coming years of the forecast period.
Based on voltage, the 24V charger has been dominating the global market and will continue to do so in coming years.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Charger Market (Product: Conventional Charger, Fast Charger, Motion-powered Charger, Solar Charger, Timer-based Charger, and Others; Type: Fixed and Portable; Connectivity: Wired and Wireless; Voltage: Below 24 V, 24 V – 48 V, 48 V – 60 V, 60 V – 120 V, and Above 120 V; Application: Personal Use, Retail, Automotive, Railways, Energy & Power, Mining, Industrial Manufacturing, IT & Data Centre, Marine, Telecommunications, Infrastructure, Oil & Gas, and Others; and Distribution Channel: Online and Offline) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/charger-market.html
Global Chargers Market – Key Driving Factors
One of the biggest driving factors for the growth of the global charger market is the increasing electrification of day-to-day devices and other equipment. Particularly, the growing penetration and sales of mobile phones across the globe has had a great impact on the overall development of the global chargers market.
Another important factor for the development of the global market has been the increasing demand for improved functionalities in smartphones that needs higher battery power. Improved battery power needs improved charging capabilities, and thus pushing up the growth of the global charger market.
In recent years, several devices and gadgets and popular equipment have become a part of IoT and need regular charging. Moreover, the growing trend of wireless charging is also expected to help the overall growth of the global charger market in the coming years of the forecast period.
Analyze charger Marketgrowth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Global Chargers Market – Geographical Outlook
In terms of geographical segmentation, the global charger market is divided into five key regions. These regions are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Of these, the global market is expected to be dominated by the regional segment of Asia Pacific over the course of the given forecast period. A strong manufacturing capacity and major outsourcing of products from the region is the key reason for the charger market growth in Asia Pacific.
In addition to this, with increasing demand for new age smartphones, gadgets, and other devices, particularly from the emerging economies, the Asia Pacific market is expected to witness promising growth avenues.
The competitive landscape of the global charger market is fragmented because of the presence of several notable players. Some of the key companies in the market are Accutronics Ltd., Anker Innovations, ARB Accessories Pvt. Ltd., Chengdu Khons Technology Co. Ltd., Lzen Electronics, Omnicharge Inc., Platinet S A, Goal Zero LLC, Samsung SDI Co., Ltd., and Sony Corporation etc.
USB Charger Market – The demand for portable chargers is an overriding trend in the USB charger market, as customers are increasingly seeking portable chargers to replenish their smartphone batteries. Customer preference for retractable USB chargers to serve devices with different interfaces is also on an upswing, as consumers are willing to invest in multi-purpose USB chargers with exceptional compatibility. Unparalleled ease of usage will continue to be at the top of the customer priority list, and this is also likely to encourage suppliers to focus more on design optimization.
Automotive Turbocharger Market– The automotive turbocharger market is expected to surpass the value of US$ 34 Bn by 2026, expanding at a CAGR of more than 5% during the forecast period. The market is expected to expand significantly during the forecast period owing to the rising penetration of automotive turbochargers in vehicles. The automotive turbocharger market is primarily driven by stringent emission norms across the globe. Rise in demand for vehicles with higher power output, coupled with stringent emission limits, has prompted manufacturers to install automotive turbochargers in their vehicles.
Power Bank Market – Power banks are widely used to charge electrical devices such as smartphones, tablets/laptops, and cameras. Change in lifestyle of consumers has led to the usage of electronic gadgets, and constant requirement for frequent charging has resulted in the rise in demand for power banks. Rise in tourism and fast lifestyle is also a major factor responsible for the increase in demand for the product. Many consumers tend to travel for longer durations, which is why the need to charge electronic devices becomes important. Generation "X" and millennial population tend to work more on laptops and use smartphones extensively.
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