Power Bank Market by Type, Component, End-user, Application, and Region – Global Forecast to 2027


iCrowdNewswire   Feb 22, 2021  6:00 PM ET

Global Power Bank Industry

Power bank is defined as a potable battery charger device that is used to charge portable electronic products such as laptops, smart phones, tablets and cameras. Versatility and mobility are the primary features of the power banks that are augmenting the growth of the power bank market. The global power bank market is anticipated to grow with the CAGR of 20.4% during 2018-2023. Rising demand of smartphone across the globe and retailing of power bank on online portals and e-commerce websites are estimated to be one of the major factors that are driving the growth of the market. In addition, increasing digitalization and drop off in the price of the power banks are also estimated to be the major factors that are driving the growth of the market.

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Over the past few years, rapid increase in the demand of the smartphone has been witnessed. The increasing demand of the smartphones is attributed to the increasing internet penetration across the globe and availability of low cost smartphones in the market. Further, increasing trend of social media and digitalization are also one of the major factors that are driving the growth of the smartphone across the globe. The total number of smartphone user across the globe was estimated to be 2.1 billion in the 2016, up from 1.5 billion in 2014, and the number is further estimated to reach 3 billion by the year 2020. These are the major factors indicating the increasing demand of smartphone worldwide. Power bank are majorly used in charging smartphones, therefore increasing demand of smartphones are estimated to drive the growth of the power bank market.

However, there are certain factors that are hampering the growth of the market. high intensity of competitive rivalry among the market players and development of low power consumption smartphones are estimated to be the major constraints in the growth of the market. Besides these restraints, growing trend of wearable devices and development of solar and hydrogen fuel-based power banks are estimated to develop myriad growth opportunities for the growth of the market in the future.

The global power bank market is further studied on the basis of the geographical regions that are contributing significantly towards the growth of the market. Asia Pacific region is estimated to account for major share in the global power bank market owing to increasing demand of smartphones in region. Total number of smart phone user in Asia Pacific region was estimated to be 1,023 million in 2015, and the number is further estimated to reach 1,800 million by the year 2022. Further, sales of smart phone in Asia Pacific region amounted to approximately $76 billion in 2016. Presence of low cost smart phone manufacturers which are also manufacturing power banks (such as Xiaomi) is estimated to be one of the major factors that is backing the growth of the market. North America is estimated to be the fastest growing market during the forecasted period.

Key players of the global power bank market are Advantage Computer Pvt Ltd, Anker, China Bak Battery Inc., Hitachi Maxell, Intelligent Energy Ltd., LG Chem Ltd., Limefuel, Microsoft Corporation, Mipow, Mophie Inc., OnePlus, Panasonic Corporation, Ravin Group, Samsung SDI Co. Ltd., Sandberg A/S, Sony Corporation, UNU Electronics, Xiaomi Technology Co. Ltd., Xtrom, Zendure and so on. In order to sustain in the market these players adopt various strategies such as merger, acquisitions, product launch, and geographical expansion and so on.

Market Segmentation:

Global power bank market by the technology 
1.1. Lithium ion battery

1.2. Lithium polymer battery

Global power bank market by applications 
2.1. Smartphones

2.2. Tablets

2.3. Portable media devices

2.4. Other2.

Global power bank market by product 
2.1. Portable power bank

2.2. Solar power bank

2.3. Battery case

The report covers:

Comprehensive research methodology of global power bank market 
In-depth analysis of macro and micro factors influencing the market guided by key recommendations. 
Analysis of regional regulations and other government policies impacting the global power bank market 
Insights about market determinants which are stimulating the global power bank market 
Detailed and extensive market segments with regional distribution of researched revenues 
Extensive profiles and recent developments of market players

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