New Study from StrategyR Highlights a $32 Billion Global Market for Battery Chargers by 2026

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Mar 25, 2022, 03:45 ET

SAN FRANCISCO , March 25, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Battery Chargers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
What's New for 2022?

New Study from StrategyR Highlights a $32 Billion Global Market for Battery Chargers by 2026

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Edition: 17; Released: February 2022
Executive Pool: 14250
Companies: 211 - Players covered include Accutronics Limited; Analytic Systems Ware Ltd.; Anoma Corporation; Associated Equipment Corporation; Energizer Holdings, Inc.; Exide Technologies; Charging Technologies Inc; FRIWO AG; HindlePower, Inc.; Hop Wo Enterprise Limited; Jeckson Electric Co., Ltd.; Kolvin Industries Ltd.; Kussmaul Electronic Co., Inc.; Lester Electrical of Nebraska, Inc.; Minwa Electronics Co., Ltd.; Motor Appliance Corporation; Panasonic Corporation of North America; Phihong USA Corporation; Powerbase Industrial (HK) Ltd.; Saft S.A.; Salcomp Plc; Schumacher Electric Corporation; Scud (Fujian) Electronics Co., Ltd.; Shun Shing Standard Corporation Development Ltd.; Uniross Batteries S.A.S; Yuasa Battery, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Type (OEM, Replacement); Application (Mobile Phones & Tablets, Laptops, Digital Cameras, Electric Vehicles, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Battery Chargers Market to Reach $32 Billion by 2026
A battery charger is a device used to induce energy into a cell or battery by forcing an electric current through the cell or battery. Battery chargers or electric voltage converters transform alternating current into direct current. Battery chargers consume high voltage AC power and convert them into low voltage DC power to charge all rechargeable batteries. The power in battery chargers is adjusted higher or lower than the battery power. 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. 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.

Amid the COVID-19 crisis, the global market for Battery Chargers estimated at US$24.7 Billion in the year 2022, is projected to reach a revised size of US$32 Billion by 2026, growing at a CAGR of 7.1% over the analysis period. OEM, one of the segments analyzed in the report, is projected to grow at a 7.5% CAGR to reach US$22.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Replacement segment is readjusted to a revised 6.3% CAGR for the next 7-year period. This segment currently accounts for a 35.5% share of the global Battery Chargers market.

The U.S. Market is Estimated at $6.6 Billion in 2022, While China is Forecast to Reach $6.8 Billion by 2026
The Battery Chargers market in the U.S. is estimated at US$6.6 Billion in the year 2022. The country currently accounts for a 27.04% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$6.8 Billion in the year 2026 trailing a CAGR of 10.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 6.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR while Rest of European market (as defined in the study) will reach US$7.5 Billion by the close of the analysis period. Asia-Pacific (including China) is one of the leading EV battery charger market globally, due to various government initiatives, strict policies, growing affordability of EVs, and improving network of charging stations. China is the biggest EV market in the region, and this is expected to drive demand for EV battery chargers significantly.More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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