Born in Liverpool, Merseyside,[1] Davies came through the youth ranks at Tranmere Rovers, making his first team debut at the age of 17 on 12 August 2005 in a 4–0 victory against Oldham Athletic.

Though initially established as a striker, lack of starting opportunities due to the form of Chris Greenacre saw him switch to the left wing from which he scored his first goal of the 2006–07 season in Tranmere's victory over Blackpool.

Davies was involved in all 10 of Tranmere's opening fixtures but missed the majority of the rest of the campaign through injury, only returning to the side in April 2008 for the 2–0 home defeat against Forest.

Davies contract with Tranmere expired at the close of the 2007–08 season and he attracted the interest of Championship side Derby, with Rams manager Paul Jewell willing to go to a tribunal to secure his services.

This figure comprised an initial fee of £275,000, an extra £250,000 based on appearances and an additional £200,000 if Derby won promotion back to the Premiership within 3 years, which they ultimately did not.

Davies scored his first goal for Derby County on 16 July 2008 in a pre-season friendly against Burton Albion, taking on 3 players before driving it into the bottom corner with his right foot.

He scored his first goal against Birmingham City on 30 September 2008, equalising in the closing minutes by getting on the end of a Nacer Barazite free kick to earn a 1–1 draw.

[4] Davies enjoyed a successful 2009–10 preseason for Derby, scoring four goals in as many games, prompting manager Nigel Clough to challenge to maintain the form and claim a first team spot heading into the new season.

[14] It meant Davies had played a role in just 78 of Derby's 169 games (46%) on 21 October 2011 during his time at the club, despite being considered a first-team player by most commentators.

[19] Davies has scored further goals a loss against Watford[20] and wins against Crystal Palace,[21] at Leeds United[22] and a penalty at Portsmouth.

[24] Derby manager Nigel Clough said that Davies turned down the offer due to "family reasons" and fully respected his decision.

[29] Davies played his first game in Derby's pre-season campaign against Chesterfield on 11 August 2012, scoring in stoppage time in the 3–1 defeat.

[46] On 18 February 2018, he scored an injury time equalizing goal against Tottenham Hotspur during a 2–2 draw, earning Rochdale a replay at Wembley in the 5th round of the FA Cup.