DUBLIN--(BUSINESS WIRE)--The "Battery Chargers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The global market for Battery Chargers is projected to reach US$26.5 billion by the year 2025, trailing a CAGR of 7.1% over the analysis period 2018 to 2025.

Batteries are omnipresent in this digital age of mobile computing. Smartphones, tablets, wearable's, self-powered medical devices/implants & all electronic devices depend on batteries for power. Backup power solutions & automobiles i. e. conventional, hybrid and pure electric vehicles need batteries for operation. Automated material handling; forklifts; grid Energy Storage System (ESS) also need batteries. Robust demand for rechargeable batteries bodes well for market growth.

Rechargeable or secondary batteries constitute an important segment of the global batteries industry, and the demand for rechargeable batteries is witnessing rapid growth on the back of increasing sales of products that use these batteries. Unlike primary batteries that are known to add to the global waste stream, rechargeable batteries, with their reusable characteristics are considered a boon. Rechargeable batteries are hence more environmentally friendly and cheaper than conventional batteries. Conversely, although they offer longer cycle lives, these batteries are more toxic in nature.

Rechargeable batteries market is the most active in terms of development of new products and launch of new battery chemistries. The market received a great boost in the 1990s due to a jump in demand for high-drain portable electronic products, such as personal communication devices and laptop computers, which required batteries to be compact, yet powerful.

The overall rechargeable battery market is still undergoing a continuous and accelerated change process in order to respond to customer needs specifically with respect to longer life, reduced energy drainage, miniature batteries, while conforming to increasing pressure to comply with environmental regulations. As an indispensable accessory for all types of electronic devices or equipment, battery chargers are expected to witness steady demand, parallel to the growth in the electronics industry. Over the years, continuous rise in the production and sales of battery-driven electronic products and equipment, and the development of an entirely new class of battery technologies has spurred growth in the global battery chargers market.

Rising energy storage needs of electronic devices/equipment used in major end-use markets including automotive, industrial, information technology, telecommunications, and consumer electronics constitutes a major growth driver for the battery chargers market. Battery chargers are used in a broad range of consumer electronic devices such as smartphones, tablets, laptops, LED flashlights, electric lanterns, and cameras, among others. In particular, mounting sales of consumer electronic devices such as smartphones, tablets, laptops, LED flashlights, electric lanterns, and cameras, specifically in developing markets, are expected to favor market growth.

Rapid advances in rechargeable battery technology in line with manufacturers' relentless focus on infusing new functional characteristics and manufacture them in smaller and lighter formats is having a significant impact on battery chargers market. Some of the evolving battery technologies require more sophisticated charging mechanisms for improving performance and to ensure safety while maintaining parity with the drifts in changing dynamics of automotive, industrial, information technology (IT), telecommunications, and consumer products markets.

In order to address the ever-growing demands, battery chargers market has witnessed a continuous flow of new designs with highly efficient and more accurate charge circuitry, with the ability to charge in lesser time all the while ensuring that the electronic system remains cool and safe. New battery chargers in simple design and faster charging capabilities rendering high-efficiency charging and longer battery run times have created a strong case for the market growth in recent years.

Competitors identified in this market include, among others:

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/q2nh0v

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Global Battery Chargers Market Report 2020: Product Innovations and Technology Developments Steer the Momentum - ResearchAndMarkets.com - Business...