Global Power bank Market

Power Bank Market Size, Share, Growth Analysis, By Power Rating (Up to 3000 mAh, between 3000 to 8000mAh), By Battery Type (Lithium ion, LI Polymer), By Application (Consumer, Commercial), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25E2040 | Region: Global | Published Date: November, 2024
Pages: 157 | Tables: 89 | Figures: 76

Power Bank Market Regional Insights

The Asia-Pacific region dominates the global power bank market due to growing population and large scale digitization. The extensive adoption of smart-phones and tablets in emerging markets like China and India due to improvement in living standards and rise in income. The no. of smartphone users in China increased from 0.96 billion in 2020 to 1.03 billion in 2021.

The North America region is expected to witness a growth rate at 21.5% between 2022-2028 due to improved connectivity of various electronics devices/smart accessories. The countries where growth can be seen include the U.S, Canada and Mexico. According to research, in the U.S. There are 294.15 million smartphone users, of which, 85% of adults use smartphones. The USA has the maximum number of smartphone users in the region of about 274 million.

Europe region the market is growing at a prodigious rate of 23.6% due to rise in the utilization of the power banks because of the increasing acceptance of smartphones, laptops and other smart electronics. The UK, Germany and Russia dominate the market in that region.

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FAQs

Global Power Bank Market size was valued at USD 12.4 billion in 2022 and is poised to grow from USD 13.66 billion in 2023 to USD 27.6 billion by 2031, growing at a CAGR of 9.23% during the forecast period (2024-2031).

Global power bank market is highly fragmented by numerous small players. This creates a fierce competition in the market and makes it difficult for smaller players to maintain their current market position. As new entrants are also entering the market it is becoming more competitive to sustain. Some of the major players includes- Xiaomi Corporation, Ambrane, Oneplus, and Realme. These companies provide power banks at a very competitive price. 'Anker (China) ', 'Aukey (China) ', 'Panasonic Corp. (Japan) ', 'Foxconn (USA) ', 'Xiaomi (China) ', 'Samsung (South Korea) ', 'RavPower (China) ', 'ZAGG Inc. (USA) ', 'Berkshire Hathaway (USA) ', 'Goal Zero (USA) ', 'Zendure (USA) ', 'Jackery (USA) ', 'Tronsmart (China) ', 'Poweradd (China) ', 'iMuto (China) ', 'Tylt (USA) ', 'Ugreen (China) ', 'EasyAcc (China) ', 'Romoss (China) ', 'Yoobao (China) ', 'PNY (USA)'

Rising demand of power banks due to digitalization of different sectors like e-commerce and service sectors. Due to the increasing number of electronics devices for various operations. Amount of time spent on social media by the global population is also fueling the market. In earlier days social media was only used for sharing photos and messages but nowadays various products like customized gifts, and T-shirts etc. are also marketed and sold through social media.

Key manufacturers are improving their product standards to reduce the hazards of using lithium-ion batteries instead of Nickel-Cadmium. Lithium-ion batteries have high energy density. Lithium-ion batteries are comparatively safer than other batteries.

The Asia-Pacific region dominates the global power bank market due to growing population and large scale digitization. The extensive adoption of smart-phones and tablets in emerging markets like China and India due to improvement in living standards and rise in income. The no. of smartphone users in China increased from 0.96 billion in 2020 to 1.03 billion in 2021.

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Global Power bank Market

Report ID: SQMIG25E2040

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