Power Bank Market Worth US$ 15.4 billion by 2027

The global power bank market size is estimated to grow from USD 9.0 billion in 2020 to USD 15.4 billion by 2027; it is expected to grow at a CAGR of 8.5% from 20210 to 2027.

As of my last update in September 2021, I can provide a general overview of the power bank market up to that point. However, please note that the information may be outdated, and I recommend checking more recent sources for the latest developments.

The power bank market has experienced significant growth in recent years, driven by the increasing adoption of smartphones, tablets, laptops, and other portable electronic devices. Power banks, also known as portable chargers, are portable battery packs that allow users to recharge their devices on the go, without the need for a fixed power source.

 

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Power Bank Market Dynamics

As of my last update in September 2021, the power bank market dynamics were influenced by several key factors. However, keep in mind that the market is continuously evolving, and new developments may have occurred since then. Below are some of the significant dynamics that were shaping the power bank market at that time:

1. Technological Advancements: Technological advancements played a crucial role in shaping the power bank market. Manufacturers were constantly striving to improve battery capacity, charging speed, efficiency, and safety features. The introduction of fast-charging technologies, such as Qualcomm's Quick Charge and Power Delivery (PD), allowed power banks to recharge devices rapidly.
2. Mobile Device Penetration: The proliferation of smartphones, tablets, and other portable electronic devices was a primary driver of the power bank market. As consumers relied heavily on their mobile devices for various tasks, the demand for convenient and portable charging solutions increased.
3. Rising Demand for High-Capacity Power Banks: With the increasing power consumption of modern devices, there was a growing demand for high-capacity power banks that could provide multiple charges for smartphones and tablets. Consumers sought power banks with larger battery capacities to ensure their devices remained powered during extended periods away from traditional power sources.
4. Shift Towards Wireless Charging: Wireless charging technology was gaining popularity, and this trend extended to power banks as well. Manufacturers began offering wireless charging capabilities in their power bank models, allowing users to charge compatible devices without the need for cables.
5. Growing Awareness of Environmental Impact: Consumers and regulators were becoming more conscious of the environmental impact of electronic waste. In response, some power bank manufacturers focused on developing eco-friendly products, using more sustainable materials and implementing recycling programs.

 

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Market Segmentation Analysis

The study categorizes the global Power Bank market based on equipment type, technology, type, installation method, distribution channel, application, and regions.

Based on the battery type, the power bank market has been segmented into –

• Lithium-Ion (Li-Ion) Battery
• Lithium Polymer (Li-Polymer) Battery

Based on the unit of USB port, the power bank market has been segmented into –

• 1 USB Port
• 2 USB Ports
• More than 2 USB Ports

Based on the Indicator, the power bank market has been segmented into –

• LED Lighting
• Digital Display

Based on the Capacity, the power bank market has been segmented into –

• Up to 3,000 mAh
• 3,001–8,000 mAh
• 8,001–20,000 mAh
• Above 20,001 mAh

Based on the Energy Source outlook, the power bank market has been segmented into–

• Electric source
• Solar source

Based on the Application, the power bank market has been segmented into –

• Smart Phone
• Tablet
• Laptop
• Portable Media Device
• Wearable Device
• Digital Camera

By Region Outlook (Sales, Production, USD Million, 2019-2033)

• North America (Mexico, Canada, US)
• South America (Peru, Brazil, Colombia, Argentina, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

 

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REGIONAL ANALYSIS, 2023

Based on the region, the global Power Bank market has been analyzed and segmented into five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

North America has been a prominent market for Power Banks due to high consumer spending on electronics and a strong demand for home entertainment systems. The United States, in particular, has a large market for Power Banks, driven by the popularity of streaming services and the desire for immersive audio experiences.

The Asia Pacific region, including countries like China, Japan, and South Korea, has witnessed substantial growth in the Power Bank market. Factors contributing to this growth include the rising disposable income, increasing urbanization, and the growing popularity of home theater systems among consumers in the region.

 

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Major Key Players in the Power Bank Market

The global Power Bank market is fragmented into a few major players and other local, small, and mid-sized manufacturers/providers, they are –

• ADATA Technology Company Limited
• Anker Innovations Limited
• Xiaomi Corporation
• RAVPower
• Griffin Technologies
• Lenovo Group Limited
• Zagg Incorporated (Mophie)
• Ambrane India Private Limited
• Intex Technologies Limited
• Omnicharge Incorporated
• BBK Electronics Corporation (Realme)
• Panasonic Corporation
• Sony Corporation
• Syska mobile accessories
• Huawei Technologies Limited.