Power Bank Market

Power Bank Market worth $25.16 billion by 2022 with a growing CAGR of 21.2%

According to the new market research report "Power Bank Market by Capacity Range (500–3499 mAh, 3500–6499 mAh, 6500–9499 mAh, 9500–12499 mAh, 12500–15499 mAh, and Above 15500mAh), Number of USB Port, Energy Source (Electric and Solar), Battery Type, Application, and Region - Global Forecast to 2022", the power bank market is expected to be valued at USD 25.16 billion by 2022, growing at a CAGR of 21.2% between 2017 and 2022. The major factors driving the growth of the market include the increasing usage of electronic devices, technological advancements, and shortage of electricity in certain countries.

Browse 63 market data Tables and 67 Figures spread through 189 Pages and in-depth TOC on "Power Bank Market - Global Forecast to 2022"
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“Capacity range of 9500–12499 mAh to hold the largest size of the overall power bank market by 2022“

The capacity range of 9500–12499mAh accounted for the largest share of the power bank market in 2016. Power banks in the capacity range of 9500–12499 mAh are compact and easy to carry around. Therefore, factors such as flexible compatibility and convenience in charging a variety of electronic devices such as smartphones, tablets, and handheld gaming devices are fueling the demand for power banks in the capacity range of 9500–12499 mAh.

“Increasing power consumption of electronic devices due to advancement in technology driving the demand for power bank”

The subscription base for the wireless technologies such as GSM, WCDMA, and LTE has been increasing year on year as the latest smartphones and tablets have numerous applications and features running with the help of a 3G or 4G connection. It has been observed that the power consumption rate is very high for the smartphones and tablets utilizing a 3G or 4G connection. This issue gets even worse if the consumer is traveling as it may become difficult for the latter to find a suitable external power source. Battery systems that are currently used in smartphones and tablets are not capable of supplying power for a longer duration. To address this issue, portable power banks have been introduced in the market, which have the capacity to store enough power to completely recharge a smartphone or tablet numerous times (depending upon power bank battery capacity) and allow the consumers to be connected uninterruptedly.

“Market for solar energy-based power banks to grow at a high rate during the forecast period”

The adoption of solar-based power banks is lower compared with that of electric-based power banks due to their higher prices. Also, the solar-based power banks take longer time to recharge electronic devices. However, these devices help in saving electric energy and can be used while traveling. This factor is expected to increase their adoption in the future. Moreover, the increasing demand for clean and safe charging energy is resulting in emergence of solar energy based power banks. For instance, in November 2018, UBON, a growing consumer electronics brand in India, launched its first solar power bank in India.

“APAC expected to hold the largest size of power bank market between 2017 and 2022”

The growth of the overall power bank market in APAC is mainly driven by the increasing demand for smartphones in the region. The APAC power bank market is highly competitive with the presence of established players and entry of new market players. These players are continually upgrading their product portfolio with the launch of technologically advanced products. For instance, in February 2018, Xiaomi, a leading provider of consumer electronics announced that it will be launching its first wireless power bank with a charging capacity of 10,000 mAh in China. Further, the new market players such as Laidian (China), Xiaodian (China), and AnkerBox (China) offering power bank rental services, which is expected to create huge opportunity for the power bank market in APAC.

The major players operating in the market are Xiaomi (China), Lenovo (China), Microsoft (US), Panasonic (Japan), and Sony (Japan), ADATA Technology (Taiwan), ASUSTeK computer (Taiwan), Ambrane (India), Intex Technologies (India), OnePlus Technology (China), and uNu Electronics (US). Some of the key innovators in the market are Portronics Digital (India), RAVPower (US), and UIMI Technologies (India).

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