According to a new market research report published by Credence Research “Laptop Batteries Market (Number of Cells – 3, 4, 6, 8, 9 and 12; Source – Original Equipment Manufacturers (OEM) and Aftermarket; Sales Channel – Retail Stores and Online Retail) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the overall laptop batteries market worldwide is set to grow with a CAGR of 5.7% during the forecast period.
Despite the growing popularity of tablets and iPads, demand for laptops (in terms of unit shipment) have been distinctly higher than the former. Laptops offer wide range of functions, connectivity and accessories, making them the preferred choice for business as well as personal work. Laptop batteries market can be seen steadily growing with the consistent demand for laptop PCs worldwide. Over the period, laptop manufacturers have come up with numerous product enhancement including convertible 2-in-1 laptops. Such product innovation has ensured higher demand for laptops as compared to tablets. As a result, demand for laptop batteries would continue rise throughout the forecast period.
Positive growth in laptop PC sales since the year 2016 is the most prominent factor driving the laptop batteries market growth. Laptop sales continued to fall from the year 2012 to 2015. This significantly affected battery sales generated from new laptops. Nevertheless, with consistent anticipated new laptop PC sales, the market would exhibit positive growth in the years to come. Apart from new sales, the market growth is also driven by replacement demand. Laptop batteries typically have 2 years of lifespan, making replacement cycle quite frequent. Subsequently, laptop batteries market is set to continue exhibiting steady growth during the forecast period.
Browse the full report at https://www.credenceresearch.com/report/laptop-batteries-market
On the basis of source of sales, laptop batteries market is dominated by replacement battery segment. Laptop batteries have limited lifespan requiring replacement every 2-3 years. Subsequently, the segment would continue dominating the market throughout the forecast period. Based on the geography, Asia Pacific leads the overall laptop batteries market worldwide contributing to more than 1/3rd of the global market size. China is the largest market worldwide for desktop PCs, laptop PCs as well as tablets. Unit shipment of laptops in China has been significantly higher than the U.S. since the past 5-6 years. Further, India is set to register the fastest growth in the market considering the rapidly growing consumer electronics market.
Some of the major companies profiled in the report include Amperex Technology Co., Ltd., Amstron Corporation, Battery Technology, Inc., Fujitsu Ltd., Hewlett-Packard (HP) Company, LG Chem Ltd., LikkPower, Panasonic Corporation, Samsung SDI Co., Ltd., Sony Corporation and Toshiba Corporation among others.