In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Mobile phone battery cases are used simultaneously to charge the mobile’s battery and to provide protection to the mobile phones at the same time. Mobile phone battery cases can charge a drained battery of mobile without plugging it into any charging point. This case has neglected the issue of carrying an extra load of power bank and is available for almost all premium smart phones. The use of lithium-ion batteries in smartphones is very common and abilities of mobile phone battery cases to provide additional power to the mobile batteries is escalating the demand for these cases all over the world.
Global mobile phone battery cases market is anticipated to witness a robust growth during the forecast period 2017-2024. Owing to the factors such as rising population and escalating adoption of mobile phones among consumers, the global mobile phone battery cases market is anticipated to flourish at a remarkable compound annual growth rate (CAGR) during the forecast period.
In terms of region, global mobile phone battery cases market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. In terms of market share, Asia Pacific region accounted for the highest market in mobile phone battery cases owing to the factors such as population explosion, consumer’s inclination towards high-tech accessories and increasing disposable income of the consumers which is strengthening their purchasing power to buy expensive phone cases. Moreover, the significant growth of e-commerce websites and rising trend towards online shopping coupled with inclination towards luxurious life style are some major factors which are anticipated to allow this region to continue its dominance during the forecast period. In terms of value, North America region is expected to witness a satisfactory growth during the period 2017-2024 followed by Europe region. Apart from this, increasing penetration of smartphones in Middle East & Africa and Latin America regions is expected to escalate the growth of mobile phone battery cases market in these regions as well in the next few years. CLICK TO DOWNLOAD SAMPLE REPORT
Our-in depth analysis of the global mobile phone battery cases market includes the following segments:
Global mobile phone battery cases market is further classified on the basis of region as follows:
Availability of mobile accessories such as mobile phone battery cases, headphones and batteries at affordable prices is a major factor driving the growth of global mobile phone battery cases market. Besides this, rising disposable income of the consumers and need for higher battery life is also strengthening the growth of mobile phone battery cases. Further, rising adoption of portable power sources such as power bank and enhancement of battery charging technologies are some of the key factors driving the growth of global mobile battery cases market.
Moreover, rapid urbanization in emerging economics such as India, Brazil and other are also escalating the growth of mobile phone battery cases. Global mobile phone battery cases market is expected to grow at a remarkable pace owing to the factors such as technological advancement, rising adoption of high-tech devices and penetration of smart phones all over the globe. Online stores and other online distribution channels have been the major contributors towards the growth of global mobile phone battery cases. Moreover, consumers’ preference to buy products from online stores rather than other distribution channel due to availability of products at low price and with additional offers are attracting the consumers towards online stores. This is further likely to intensify the growth of global mobile phone battery cases market till 2024. However, high cost of mobile phone battery cases, rising demand for low price mobile phone battery cases are some of the major challenges which may inhibit the growth of market in near future. Moreover, global mobile phone battery cases market is also hindered by factors such as lack of brand awareness and low adoption of smartphones and higher adoption of featured phones in rural areas especially in developing countries in Asia.