Why will the demand and price of mobile phone accessories continue to rise?

At present, global smartphone users have a great demand for mobile phone accessories. The mobile phone accessories market mainly depends on the global popularity of smart phones, and mobile phone accessories are as important as mobile phones in daily life. Most of us will find it difficult to survive without mobile phones and accessories. Whether it’s a power bank, earphones, mobile phone chargers, cables, these accessories are all essentials today. With the increase of the world’s population, the demand for mobile phones and mobile phone accessories is increasing, thus creating a market that is advancing by leaps and bounds year by year and cannot be ignored.

Mobile phone accessories market analysis

On the basis of product type, there are research reports showing output, revenue, price, market share, and the growth rate of each type, mainly divided into:
Battery
Headphones/headphones
Portable speaker
charger
storage card

Global mobile phone accessories market: regional analysis, the main areas covered by the report are:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Why will the mobile phone accessories market increase?

• Increase in disposable income

Due to the large number of mobile device users and the significant increase in the adoption rate of smartphones and tablets, the increase in disposable income has changed consumers’ buying and consumption patterns, especially in urban areas. The adoption of mobile devices by young people around the world has provided a strong stimulus for market growth. In addition to mobile phones and mobile phone accessories used by teenagers, now 50-70 years old people basically use smartphones, and mobile phone accessories have become an inevitable choice.

• Impact of Covid 19

Calculated by sales channels, online stores will account for the largest revenue in the mobile phone accessories market in 2020. This is mainly due to the impact of COVID-19, which has been blocked in various countries/regions around the world. Multi-brand stores provide convenience for consumers. Convenience and group buying advantages, online shopping provides great convenience for everyone

• The popularity of smart phones and the steady decline in prices

The increase in sales of smartphones has led to an increase in sales of mobile phone accessories. Smartphones provide various functions such as camera, MMS, music, Internet, location-based services, and data storage and sharing. Mobile accessories further enhance the value of these functions: such as earphones, chargers, protective cases, power banks, USB data cables, wireless speakers, memory cards, Bluetooth devices, and selfie sticks.

• Advances in technology

It is worth noting that until a few years ago, mobile accessories also included chargers, data cables and headsets. With the advancement of technology, current mobile phone users are increasingly inclined to high-tech mobile accessories such as Bluetooth devices, mobile power banks, wireless headsets, etc., which will bring more experience and convenience to life

• Product diversification

Trendy and fashionable mobile phone cases, fashionable and colorful earphones, rising battery and charger replacements are wrongly stimulating global demand for mobile phone accessories.

Why will the price of mobile phone accessories continue to rise?

• Affected by the epidemic, the demand for mobile phone accessories has increased. Because of the expansion of overseas epidemics, producing countries such as India and Southeast Asia have fallen. In addition, China is a big manufacturing country, and there is no interference from the epidemic, which has caused a large number of overseas orders to return to China. In order to produce orders, many foreign trade companies have continuously increased their production capacity, and their electricity consumption has also increased sharply, it seems imminent.

• Raw materials have been rising
  Electricity is needed for production. Domestic power generation mainly relies on coal to generate electricity. With the increase in production capacity and power consumption, domestic coal supply has tightened and prices have risen sharply. Since the domestic raw coal supply has become tight, it must rely on imports. The impact of the epidemic, Coal is in short supply, and foreign coal prices have been rising. In addition to coal, chargers’ ICs have also been lacking and prices have been rising. As the epidemic spreads, global commodities are also desperately increasing prices. Many raw materials in our country need to be purchased from Imported from abroad, but as the price of raw materials rises, production costs will increase accordingly.

• China’s production transformation
  China has been emphasizing the elimination of outdated production capacity and shifting from the previous high-energy-consuming production to energy-saving production. This requires the elimination of a batch of low-end manufacturing industries with high energy consumption and high emissions. In the future, it will rely more on technology to increase the added value of products. The so-called “manufacturing” is transformed into “intelligent manufacturing”. The more economic benefit does not depend on energy consumption, and the higher the proportion, the more economic benefit depends on energy consumption. High energy consumption does not meet the requirements of industrial transformation, and it will also have a negative impact on the environment, although it will make a certain contribution to the economy in the short term.

• In mid-April, the National Development and Reform Commission lighted a red light on the “dual control” of energy consumption in 9 regions across the country, focusing on 9 provinces including Qinghai, Ningxia, Guangxi, Guangdong, Fujian, Xinjiang, Yunnan, Shaanxi, and Jiangsu. After the document was released, many provinces actively implemented the central policies and even adopted unconventional measures. As the “dual energy consumption control” has been upgraded in many places, many areas have directly restricted production, limited electricity, and even stopped production, especially in Guangdong and Jiangsu. The recent “dual control of energy consumption” and the adjustment of the operating cycle of production lines. Production capacity has fallen, and prices have continued to rise.

Conclusion:

The demand for mobile phone accessories continues to increase with economic development. This is an inevitable trend. However, economic development cannot be at the expense of the environment. Electricity curtailment is a wise measure launched by the Chinese government to protect the natural environment, although “dual control of energy consumption” The implementation of the order, the production cycle of the order is delayed, the price rises, only our customers make a purchase plan in advance, and our company can arrange the production line in advance without much impact.