Leading Companies in the India USB Charger Market

The India USB charger market size stood at a value of around USD 2.10 billion in 2023. The market is expected to grow at a CAGR of 8.9% in the forecast period of 2024-2032 and is projected to attain a value of USD 4.49 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the increasing adoption of electronic gadgets.

The significant growth in the consumption of electronics, combined with the government’s target of achieving USD 300 billion domestic electronics manufacturing by 2025–26, is creating opportunities for global firms to make India a manufacturing hub.

India is supported by the advantage of younger population. As per the India USB charger market analysis, about 26% of the population in India belongs to the age group of 15–29 years and about 26% in the group of 0–14 years. As a result, India is positioned to be the largest global market for a tech-savvy young population.

India is considered the second largest mobile phone manufacturer on a global scale, with the presence of more than 200 mobile phone manufacturing units. The increasing adoption of smartphones by the Indian population, resulted by digitisation initiatives is further supporting the India USB charger market growth. India is termed the second fastest digitizing economy of the 17 leading economies of the world. By 2026, the Government of India plans to make Electronics Goods amongst India’s 2-3 top-ranking exports. The government of India is ruling out other forms of chargers and standardise USB C as the go-to charging port for mobile devices.

Additionally, the increasing financial capabilities of India's ambitious middle class are projected to propel India's GDP growth to nearly double the global average. According to the International Monetary Fund (IMF), India is on track to become the world's third-largest economy by 2028, with an expected nominal GDP of USD 5.58 trillion and an average annual growth rate of 6.55% from 2021 to 2028. The per capita GDP is anticipated to exceed USD 3,000 by 2025, which will further boost discretionary spending and stimulate demand in the electronics sector. This further is creating significant opportunities for USB drives, supporting the India USB charger market expansion.

Figure: Production profile of the Indian electronics industry – FY2022

In June 2024, Vivo, a Chinese smartphone maker announced their plans to open one of India's largest mobile phone manufacturing facilities. The investment worth INR 3,000 crore has the capability to produce 120 million devices every year.

Top 5 USB Charger Companies in India:

Imagine Marketing Private Limited (Boat)

Imagine Marketing Private Limited (Boat) is a prominent audio and wearable company headquartered in India. The company specialises in consumer electronics, audio, wireless earphones, cables and chargers, Bluetooth audio, speakers, home audio, headphones, earphones, true wireless, and smart audio. The types of chargers provided by the company include Wireless Charger, Type C Charger, Fast Charger USB Charger, Micro USB Charger, and Type C Adapter.

Palred Technologies Ltd (Ptron)

Palred Technologies Ltd (Ptron) is an electronic and mobile accessories company based in Hyderabad. PTron is a brand of Palred Electronics Private Limited., which is a subsidiary of Palred Technologies Ltd, a public-listed company on BSE and NSE since 2004. The products of the company comply to FCC (US), CE (Europe), BIS (India) standards. PTron has delivered more than 5 million products (mobile accessories like Bluetooth earphones, smart watches, Bluetooth speakers etc) through online and offline retail channels across India.

Seminole Electronics Private Limited (MIVI)

Mivi is an electronic accessories startup in India. The company has the presence of more than 1500 employees. The products of the company are completely made in India, with 0% dependency on imported products since 2020. The product portfolio of the company includes earphones, soundbars, earbuds, speakers and accessories such as USB chargers. The company has set up the country’s 1st and only design & manufacturing unit in audio.

Xiaomi Group

Xiaomi Corporation is one of the world’s leading smartphone companies. Xiaomi was listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). As of September 2022, the company has also established the world’s leading consumer AIoT (AI+IoT) platform, reaching 558 million smart devices connected to its platform (excluding smartphones, laptops and tablets). Beyond smartphones, Xiaomi now sells power banks, headphones, Bluetooth speakers, security cameras, electric scooters, and even accessories like backpacks and umbrellas.

Zebronics India Pvt. Ltd

Zebronics, is a leading brand in the audio, IT, gaming, and lifestyle industry in India. The company has a wide range of product offerings including audio, IT & gaming peripherals, smart wearables, personal grooming, surveillance products, and lifestyle accessories. Zebronics has more than 31 offices and over 135 service centres across India. The mobile and tablet accessories of the company include stylus, cables, charging docking station, mobile USB charger, wireless charger, mobile gaming case, mobile holders, BT audio receiver, car charger, multipurpose connector kit, optical cables, selfie ring light, etc.