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. The market estimation for the market sizing is evaluated with COVID-19 Impact Analysis and includes a detailed analysis across the different geographies. The 8001-20000 mAh has high-performance efficiency and longer battery life based on the power capacity. Li-polymer batteries are lightweight, durable, and flat in shape and hence have a higher demand. Moreover, the trend of rechargeable batteries for the production of batteries, along with the popularity of wireless power banks, is increasing the global demand. These trends would expand the global power bank market over the forecast period.
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Factors Affecting the Power Bank Market over the Forecast Period:
The increase in power consumption of smartphones and a decrease in the price of power banks are driving the global power bank market. Moreover, the incorporation of new and advanced technologies and the rising adoption of smartphones and portable devices integrated with higher power consumption units fuel the market’s growth of the power bank.
In addition to electric power banks, various firms are manufacturing power banks powered by solar energy or hydrogen fuel cells. This aspect provides a range of opportunities in the global market. Growth in the acceptance of wearable technologies and a good distribution network will give rise to many growth opportunities.
Poor quality of Power Banks is hindering the market growth
- Poor quality of power banks can cause overheating, reduce the device’s battery life, and in the worst case, may even combust, which limits the market growth.
- The rise in market growth is hampered by wireless charging in smartphones and increasing preference for rental power banks among consumers.
- The cessation of power bank manufacturing plants and the pause in orders due to COVID-19 pose significant global power bank market challenges.
- The complicated production process and the high cost of recycling Lithium-ion batteries present many challenges.
- Furthermore, it is very difficult for a new entrant to compete with existing players in a highly competitive market unless they develop their product.
Impact of COVID-19 on Power Bank Market:
The COVID-19 pandemic is causing turmoil in the market due to the major downturn in the supply chain of various businesses, decreased business confidence, and a rise in panic among the customers. The sales of leading companies are expected to be impacted in the future. The COVID-19 pandemic has resulted in a decrease in the overall growth rate. It could also impact the expected and planned investment in the market. Electronics manufacturing centers have been briefly shut down to reduce the spread of COVID-19 among individuals.
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Scope of the Report
The report outlines the study of the global power bank market based on battery type, unit of USB, Indicator, capacity, energy source outlook, and application.
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
- Portable Media Device
- Wearable Device
- Digital Camera
Power Bank Market: Regional Outlook
The global market for Power Bank has been segmented into five regions, geographically, namely, North America, Asia Pacific, South America, Europe and the Middle East and Africa (MEA). The Asia Pacific is the largest and fastest-growing region in the global power bank market, North America and Europe. The Asia Pacific market is projected to foresee a substantial increase in revenue share over the forecast period due to the increasing number of users of electronic devices and the resulting growth in demand for power banks.
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Key Global Power Bank Market Competitors Includes –
The global power bank market is highly fragmented, with a large number of small players across the globe. The key players operating in the global power bank market include–
- ADATA Technology Company Limited
- Anker Innovations Limited
- Xiaomi Corporation
- 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.
The power bank market report provides a thorough analysis of macro-economic factors and the market attractiveness of every segment. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players in the respective segment and region/country. The information concluded in the report includes the inputs.
Power Bank Market Report Covers Comprehensive Analysis On:
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter’s Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
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Power Bank Market Regional Analysis Includes:
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, 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
Power Bank Market: Target Audience
- Power Bank manufacturers
- Batteries manufacturers, distributors, and suppliers
- Consumer electronics contributors
- Trade publications and magazines
- Government authorities, associations, and organizations