A power bank is a battery charging device used for charging a rechargeable battery or secondary cell. The global demand for power banks is majorly driven by the continually growing demand for smartphones, tablets, and PDAs. The advancements in technologies have significantly enhanced the capacities and charging speeds of power banks in recent years. Furthermore, improved standard of living, rise in consumer discretionary income, and evolving digital habits of consumers are expected to have a positive impact on the overall demand for power banks globally. The increasing competition between domestic and international players is expected to result in price wars, thereby reducing the average selling prices for power banks in the following years.
This report analyzes the global power banks market in terms of type, battery type, power rating, and geography. On the basis of type, the market is segmented into portable power banks, battery case power banks, and solar power banks. Similarly, the global market for power banks is classified by battery type into lithium-ion and lithium-polymer power banks. Likewise, on the basis of power rating, the global power banks market is segmented into below 3,000 mAh power banks, 3,000 mAh – 8, 000 mAh power banks, 8,000 mAh – 12, 000 mAh power banks, 12,000 mAh – 20, 000 mAh power banks, and above 20,000 mAh power banks. In addition, the report provides a detailed analysis of the pricing trends in the power banks market in various major countries across the world. The report includes market share for power banks based on various price ranges including less than US$20; between US$20 to US$50; between US$50 to US$70; between US$70 to US$100; between US$100 to US$200; between US$200 to US$300; and more than US$300. The geographical distribution of the global power banks market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
The report titled “Global Power Banks Market- Growth, Future Prospects, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global power banks market along with the market size and estimates for the duration 2021 to 2029. The said research study covers an in-depth analysis of multiple market segments based on battery type, type, power rating, price, and cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2020 & 2028. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities. In addition, the report covers a section providing analysis on the key market trends analyzing the rise of power banks with additional features such as flashlight, car jump start, and displays, among others.
In order to help strategic decision-makers, the report also includes competitive profiling of the leading providers of power banks, market positioning, and key developments. Some of the major players profiled in the report are Advantage Computers (I) Pvt. Ltd., Apacer Technologies, Inc., Anker, Shenzhen BAK Battery Co., Ltd., EasyAcc, GP Batteries International Ltd., Hitachi Maxell Ltd., Limefuel, LLC, LG Chem Ltd., MiPow Ltd., Mophie, Inc., Microsoft Corporation, OnePlus, Panasonic Corporation, Samsung Electronics co, Ltd., Sony Corporation, Xtorm BV, uNu Electronics, Inc., and Xiaomi Technology Co., Ltd.
Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global power banks market, offering market size and estimates for the period from 2021 to 2029, keeping in mind the above-mentioned factors.
In 2020, portable power banks dominated the global power banks market and are expected to exhibit strong growth during the forecast period 2021 – 2029. The dominance and anticipated growth shall be credited to the introduction of lightweight, performance rich, and cost-effective power banks in the market. On the other hand, solar equivalents are presumed to witness maximum growth, outpacing portable and battery case power banks during the forecast period 2021 - 2029. The advancements in technologies have significantly enhanced the capacities and charging speeds of solar power banks. In addition, solar power banks are the preferred choice for hikers, backpackers, and hunters where there is limited availability of power sources. The hikers or backpackers thus can rely on solar power banks that are capable of being charged via sunlight.
In 2020, power banks with power ratings between 8,000 mAh and 12,000 mAh led the overall power banks market. Due to the rising adoption of power banks capable of charging multiple times, the segment growth is estimated to remain strong in the coming years. As a result, the majority of the consumers prefer using power banks falling under the rating 8,000 mAh to 12,000 mAh. The segment is projected to continue its dominance throughout the forecast period.
Power banks segment with power rating 3,000 mAh to 8,000 accounts for the second-largest share, in terms of revenue and adoption, of the overall market. Power banks falling under this segment are typically cheaper and efficient enough for charging mobile phones. Increasing penetration of mobile apps consuming higher battery power is another major factor fueling the segment growth.
In 2020, the global power banks market was led by the Asia Pacific followed by North America and by Europe in terms of revenue. The region accounted for over 35% of the global market value in the same year. The Asia Pacific is slated to remain the most attractive business destination for power bank manufacturers given the growing smartphone market in the region. With the perpetually growing smartphone market in the region, the demand for accessories including power banks is also expected to grow swiftly. There lie healthy growth and investment opportunities in emerging markets like India and China. Over the forecast period, both Europe and North America are presumed to witness steady growth on account of the presence of a large base of tech-savvy consumers with higher discretionary income.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Power Banks market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Battery Type
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Power Rating
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
