The global power bank market size is expected to be worth around US$ 31.5 billion by 2030, according to a new report by Vision Research Reports.
The global power bank market size was valued at US$ 9.8 billion in 2020 and is anticipated to grow at a CAGR of 19.4% during forecast period 2021 to 2030.
|Market Size||US$ 31.5 Bn by 2030|
|Growth Rate||CAGR of 19.4% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Capacity Range, Energy Source, Battery Type, Distribution Channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Amada Corporation, TRUMPF, and Bystronic Laser AG, Jenoptik AG; IPG Photonics; Jet Edge, Inc.; and Messer Cutting|
The increasing demand for power banks has led to a reduction in their prices. Furthermore, high competition in the market reduces the total cost of ownership of the power bank. Increasing use of the internet and insufficient battery capacity of smartphones and other mobile consumer electronic products are the key factors driving the growth in sales of power banks globally.
An increase in GDP, higher consumer purchasing power, and improved standard of living are propelling the growth of the electronics market. The demand for power banks has increased owing to the low battery capacity of smartphones and tablets. Power banks with 8,001 mAh–20,000 mAh battery capacity are expected to gain high traction in the power bank market owing to the capacity of a power bank to charge a device multiple times.
By Capacity Range Analysis
Based on capacity range, the market has been segmented into 3,000 mAh, 3,001 mAh-8,000 mAh, 8001 mAh-20,000 mAh, and above 20,000 mAh. The 8,001 mAh-20,000 mAh segment accounted for a market share of 34.2% in 2019 and is expected to generate the highest revenue through the forecast period. Extensive digitization is the major factor driving the segment growth.
The penetration of smartphones has led to an increase in data consumption. Smartphones have transformed into high energy-consuming devices, which constantly drain the power of a battery owing to the usage of multiple apps for internet browsing, sending emails, personal entertainment, messaging, gaming, and other activities. Current battery technologies are not keeping pace with innovation in consumer electronics.
By Battery Type Analysis
The battery type segment has been further categorized into lithium-ion (Li-ion) and lithium polymer (Li-polymer) batteries. The lithium-ion segment held the largest market share of over 80.0% in 2019. Li-ion batteries offer numerous advantages such as lower self-discharge, high energy density, and low maintenance.
the Li-polymer battery segment is expected to register the highest CAGR over the forecast period. Li-polymer batteries are lightweight, moldable, and are flat in shape and hence enable the production of compact and sleek power banks.
By Energy Source Analysis
The energy source segment has been further categorized into electric and solar. The electric segment accounted for the largest market share in 2019. They offer benefits such as easy availability, low cost, lightweight, and compactness.
Most users possess multiple electronic devices and hence need a portable energy source that can simultaneously recharge multiple devices. A power bank helps ensure that these devices can be charged at a moment’s notice when consumers do not have access to an electrical plug point.
By Distribution Channel Analysis
Based on the distribution channel, the market has been segmented into e-commerce and brick and mortar. The e-commerce segment is expected to witness substantial growth over the forecast period owing to the increasing penetration of the internet.
The online retail channel is growing exponentially worldwide. Multi-brand and multi-category retailers are driving the growth of the e-commerce channel. E-commerce was formerly associated mainly with electronic gadgets, apparel, and appliances.
By Regional Analysis
The Asia Pacific region dominated the global market in 2019. Growing population, large-scale digitization, availability of affordable power banks, and penetration of e-commerce in the electronics industry drive the adoption of power banks in the region.
The Asia Pacific regional market is expected to register the highest CAGR over the forecast period owing to extensive urbanization and the rapidly growing industrial sector. Furthermore, developing economies of the APAC region, such as China, India, South Korea, and other Southeast Asian countries, are turning into major global manufacturing hubs.
Beijing Xiaomi Technology Co. Ltd.; Lenovo Group Ltd.; Microsoft Corporation; Panasonic Corporation; Sony Corporation; AsusTeK Computer Inc.; Anker Technology Co.; Intex Technologies; and Ambrane India Private Limited. Players such as Beijing Xiaomi Technology Co., Ltd.; Microsoft Corporation; and Sony Corporation
By Capacity Range
Up to 3,000 mAh
3,001 mAh-8,000 mAh
8,001 mAh-20,000 mAh
Above 20,000 mAh
By Energy Source
By Battery Type
By Distribution Channel
Brick and Mortar
Middle East & Africa (MEA)
The Power Bank market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Power Bank market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Power Bank market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Power Bank market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Power Bank market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Power Bank capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Power Bank by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Power Bank market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Power Bank market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Power Bank market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Power Bank industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Power Bank market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Power Bank market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Power Bank market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Power Bank market. These factors have benefited the growth of the global market for Power Bank. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Power Bank. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Power Bank are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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