Spettacolo
Increasing Smartphone Penetration to Help Global Charger Market exceed US$42.8 Bn in Valuation by 2030, Finds TMR
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$42.8 Bn by the fall of 2030.
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The competitive landscape of the global charger market is fragmented because of the presence of several notable players. Some of the key companies in the market are
Consumer Goods & Services Industry
USB Charger Market – The demand for portable chargers is an overriding trend in the USB charger market, as customers are increasingly seeking portable chargers to replenish their smartphone batteries. Customer preference for retractable USB chargers to serve devices with different interfaces is also on an upswing, as consumers are willing to invest in multi-purpose USB chargers with exceptional compatibility. Unparalleled ease of usage will continue to be at the top of the customer priority list, and this is also likely to encourage suppliers to focus more on design optimization.
Automotive Turbocharger Market– The automotive turbocharger market is expected to surpass the value of US$ 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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