Power Bank Market Research Report 2024
Power Bank Market Global Industry Analysis And Forecast (2024- 2032) By Capacity Range (500-5999mAh, 6000-9999mah, 10, 000mah-13000mah, And 13000mAh), Charging Mode (Wired and Wireless), Application (Smartphones and Tablets, Cameras, And Laptops) And Region
Global Power Bank Market Synopsis
The Global Power Bank Market was worth USD 12.78 Billion in 2023. As such, the forecast is that the market is expected to reach USD 27.99 Billion by 2032 with a CAGR of 9.1% from 2024 to 2032.
The power bank market increasing in popularity of portable electronic devices such as smartphones, tablets, and laptops. As consumers rely more heavily on these devices for work, entertainment, and communication, the demand for portable power solutions has surged. Power banks offer a convenient and efficient way to charge devices on the go, making them indispensable for individuals with active lifestyles.
- The market is characterized by a wide range of products, varying in terms of capacity, features, and price. Factors such as battery technology, charging speed, and design play a crucial role in influencing consumer preferences. The rise of wireless charging technology has also contributed to the evolution of the power bank market, offering a more seamless charging experience.
- Key market trends include the increasing adoption of high-capacity power banks to meet the demands of power-hungry devices, the integration of additional features like LED indicators and USB ports, and the growing popularity of compact and lightweight designs. Moreover, the development of fast-charging technologies has accelerated the charging process, enhancing user convenience.
Top Key Players Involved Are:
"Anker, Xiaomi, RAVPower, Aukey, Lenovo, Belkin, Intex, Ambrane, Syska, Mophie, Samsung, Oppo, OnePlus, TP-Link, UGREEN, ROMOSS, Zendure, GRIFFIN, ADATA, Poweradd, Other Active Players."
Global Power Bank Market Trend Analysis
Increased Smartphone and Electronic Device Usage:
- The proliferation of smartphones, tablets, and other portable electronic devices has dramatically reshaped our daily lives. These devices, while offering unparalleled convenience and connectivity, come with a common Achilles' heel: limited battery life. This limitation has created a burgeoning market for power banks, portable rechargeable batteries that serve as lifelines for our ever-connected gadgets.
- The increasing reliance on smartphones for communication, entertainment, and productivity has significantly amplified the demand for power banks. As users spend more time on their devices, the need for reliable and convenient charging solutions becomes paramount. Power banks offer a practical and efficient way to extend battery life, ensuring that users can stay connected and productive throughout the day.
- Moreover, the growing popularity of electronic devices beyond smartphones and tablets has further fueled the demand for power banks. Smartwatches, fitness trackers, and portable gaming consoles all require regular charging, making power banks an essential accessory for individuals with a diverse range of electronic devices.
Technological Advancements Create an Opportunity for the Global Power Bank Market
- The development of higher-capacity, faster-charging, and more durable batteries has been a game-changer for power banks. Lithium-ion batteries, known for their high energy density, have become the standard in the industry. Advancements in battery chemistry, such as the introduction of graphene and solid-state batteries, promise to further enhance performance and longevity.
- The ability to quickly recharge devices has become a crucial selling point for power banks. Manufacturers are incorporating technologies like Power Delivery (PD) and Quick Charge to enable rapid charging for compatible devices. This convenience is particularly appealing to users who are constantly on the go.
- The integration of wireless charging technology into power banks has made charging even more convenient. Users can simply place their compatible devices on the power bank's surface to initiate charging, eliminating the need for cables. This feature has gained popularity among users who value simplicity and portability.
Global Power Bank Market Segment Analysis:
The Global Power Bank Market is Segmented into Capacity Range, Charging Mode, Application, and Region.
By Capacity Range, the 6000-9999mah segment is expected to dominate the market during the forecast period.
- The 6000-9999mAh segment is poised to dominate the power bank market in the coming years. This segment offers an ideal balance between portability and power, making it suitable for a wide range of users. With the increasing adoption of smartphones and other mobile devices, there is a growing demand for power banks that can provide reliable and long-lasting power.
- The 6000-9999mAh segment meets this demand by offering ample power to charge devices multiple times without needing frequent recharging. Moreover, power banks in this range are generally compact and lightweight, making them easy to carry around. This segment is expected to witness significant growth as more consumers opt for power banks that offer a combination of power and portability.
By Application, the Smartphones and Tablets segment held the largest share in 2023.
- The power bank market, driven by the ever-increasing demand for portable charging solutions, has witnessed a surge in recent years. Among the various applications, smartphones and tablets have emerged as the dominant segments, fueling the growth of this industry.
- The ubiquitous nature of smartphones and tablets has made them indispensable in our daily lives. These devices are used for a wide range of activities, from communication and entertainment to work and productivity. As their usage has escalated, so has the demand for extended battery life. Power banks offer a convenient and reliable solution to keep these devices powered up, ensuring uninterrupted usage throughout the day.
- The growing popularity of mobile gaming and video streaming has further intensified the need for power banks. These activities are particularly demanding on device batteries, and power banks provide the necessary backup to prevent users from being caught off guard by unexpected battery drains. Additionally, the increasing number of features and applications available on smartphones and tablets has led to higher power consumption, making power banks an essential accessory for many users.
Global Power Bank Market Regional Insights:
Asia Pacific is Expected to Dominate the Market Over the Forecast Period
- The Asia Pacific region is poised to dominate the power bank market, driven by several key factors. The region boasts a vast population with a rapidly growing middle class, leading to increased demand for electronic devices like smartphones and tablets. These devices require constant charging, making power banks an essential accessory. The region's economic growth and urbanization have spurred the adoption of mobile lifestyles, where individuals rely heavily on their devices for work, entertainment, and communication. This dependence on mobile technology drives the need for portable power solutions.
- Moreover, the Asia Pacific region has a strong manufacturing base, particularly in countries like China, which has a competitive advantage in producing affordable power banks. This cost-effective production has made power banks more accessible to a wider range of consumers in the region. Additionally, the increasing penetration of e-commerce platforms has facilitated the distribution and sale of power banks, further contributing to their popularity.
Global Power Bank Market Top Key Players:
- Anker
- Xiaomi
- RAVPower
- Aukey
- Lenovo
- Belkin
- Intex
- Ambrane
- Syska
- Mophie
- Samsung
- Oppo
- OnePlus
- TP-Link
- UGREEN
- ROMOSS
- Zendure
- GRIFFIN
- ADATA
- Poweradd, Other Active Players.
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Global Power Bank Market |
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Base Year: |
2023 |
Forecast Period: |
2024- 2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 12.78 Bn. |
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Forecast Period 2024-32 CAGR: |
9.1% |
Market Size in 2032: |
USD 27.99 Bn. |
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Segments Covered: |
By Capacity Range |
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By Type |
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By Charging Mode |
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By Application |
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By Region |
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Global Power Bank Market |
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Base Year: |
2023 |
Forecast Period: |
2024- 2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 12.78 Bn. |
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Forecast Period 2024-32 CAGR: |
9.1% |
Market Size in 2032: |
USD 27.99 Bn. |
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Segments Covered: |
By Capacity Range |
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By Type |
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By Charging Mode |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Power Bank Market by Capacity Range
4.1 Power Bank Market Snapshot and Growth Engine
4.2 Power Bank Market Overview
4.3 500-5999mAh
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size
Frequently Asked Questions
What would be the forecast period in the Global Power Bank Market research report?
The forecast period in the Global Power Bank Market research report is 2024- 2032.
Who are the key players in the Global Power Bank Market?
Anker, Xiaomi, RAVPower, Aukey, Lenovo, Belkin, Intex, Ambrane, Syska, Mophie, Samsung, Oppo, OnePlus, TP-Link, UGREEN, ROMOSS, Zendure, GRIFFIN, ADATA, Poweradd, Other Active Players.
What are the segments of the Global Power Bank Market?
The Power Bank Market is Segmented into Capacity Range, Charging Mode, Application, and Region. Capacity Range the market is categorized into (500-5999mAh, 6000-9999mah, 10, 000mah-13000mah, And 13000mAh), Charging Mode the market is categorized into (Wired and Wireless), Applications the market is categorized into (Smartphones and Tablets, Cameras, And Laptops) By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
What is the Global Power Bank Market?
The power bank market increasing in popularity of portable electronic devices such as smartphones, tablets, and laptops. As consumers rely more heavily on these devices for work, entertainment, and communication, the demand for portable power solutions has surged. Power banks offer a convenient and efficient way to charge devices on the go, making them indispensable for individuals with active lifestyles.
How big is the Global Power Bank Market?
The Global Power Bank Market was worth USD 12.78 Billion in 2023. As such, the forecast is that the market is expected to reach USD 27.99 Billion by 2032 with a CAGR of 9.1% over the period from 2024 to 2032.
