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Global Power Bank Market Size, Share, Analysis, Forecast: By Unit of USB Port: 1 USB Port, 2 USB Ports, More Than 2 USB Ports; By Battery Type: Lithium-Ion, Lithium Polymer; By Capacity Range: Less Than 3,000 mAh, 3,001 mAh-8,000 mAh, Others; By Price Range; By Application; Regional Analysis; Competitive Landscape; 2024-2032
Global Power Bank Market Outlook
The global power bank market size reached approximately USD 15.7 billion in 2023. The market is projected to grow at a CAGR of 6.70% between 2024 and 2032, reaching a value of around USD 28.1 billion by 2032.
Key Takeaways
- A power bank with a capacity of 10,000mAh is typically capable of charging a smartphone up to three times.
- Consumers and manufacturers alike are showing a growing preference for power banks made with eco-friendly materials.
- Significant advancements in battery technology, particularly in lithium-ion (Li-ion) and lithium-polymer (Li-Po) batteries, are shaping the market.
A power bank is a portable rechargeable battery that can be used to charge other devices when conventional wall plugs are not accessible. Power banks range from slim pocket sizes to large high-capacity power banks. They can be used to charge smartphones, tablets, Bluetooth devices, cameras, portable speakers, and other devices.
The growing adoption of mobile devices such as Bluetooth earplugs, tablets, smartphones, and cameras, among others, that need regular charging is supporting the power bank market growth. Power banks enjoy significant popularity as portable, compact, and easy-to-carry rechargeable devices to meet constant charging needs.
Moreover, flourishing smartphone penetration in developing economies has also fuelled the demand for power banks. Trends like remote work and the increasing demand for constant connection, communication, navigation, and entertainment are positively influencing the global power bank market development. The portability of power banks facilitates on-the-go travellers, professionals, and people living in areas with frequent power outages.
Key Trends and Developments
Wireless charging integration; eco-friendly and sustainable solutions; safety and reliability improvements; and the development of new technologies are the major trends impacting the power bank market expansion
March 19th, 2024
Samsung Electronics launched two new power banks in South Korea, the PD Power Bank with a 20,000mAh capacity and the PD Wireless Charging Power Bank with a 10,000mAh capacity.
March 16th, 2024
Unix, a prominent mobile accessories brand, announced the launch of its newest product, the UX-1531 wireless power bank.
February 5th, 2024
Ambrane announced the launch of the AeroSync Quad, a versatile 4-in-1 gadget that combines wireless charging, a power bank, and a phone stand into one device.
December 6th, 2023
Urbn introduced the world's smallest Power Bank, the Urbn Nano, featuring an impressive battery capacity of both 20,000 mAh and 10,000 mAh.
Wireless charging integration
With the adoption of wireless charging in smartphones and other portable devices, power banks are increasingly incorporating wireless charging capabilities.
Eco-friendly and sustainable solutions
Consumers are becoming more environmentally conscious and are seeking power banks made with sustainable materials, recyclable components, and eco-friendly production processes.
Safety and reliability improvements
Manufacturers in the power bank market are focusing on enhancing safety features to prevent issues such as overheating, overcharging, and short circuits.
Development of new technologies
Technologies like lightweight and advanced lithium batteries that can support fast charging is one of the crucial market trends.
Power Bank Market Trends
The evolution towards lightweight, advanced lithium batteries supporting fast charging represents a significant trend within the market. Advances in lithium battery technology, including lithium-ion (Li-ion) and lithium-polymer (Li-Po), have led to the development of batteries that are not only more efficient in terms of energy density but also capable of supporting faster charging speeds. Key players are also developing innovative power banks with 30,000 mAh battery capacity, power banks with triple charging ports, and power banks that support 24W fast charging. Besides, design innovations like matte finish and rugged and curved texture are further aiding the market development.
Market players in the power bank market are readily launching innovative power banks with enhanced capabilities. For instance, Samsung Electronics introduced two innovative power bank models in the South Korean market in March 2024. PD power bank is designed to cater to the needs of users who require extensive power supply on the go, whereas PD wireless charging power bank is designed for users who value the ease of charging their devices wirelessly.
Market Segmentation
“Power Bank Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Unit of USB Port
- 1 USB Port
- 2 USB Ports
- More Than 2 USB Ports
Market Breakup by Battery Type
- Lithium-Ion
- Lithium Polymer
Market Breakup by Capacity Range
- Less Than 3,000 mAh
- 3,001 mAh-8,000 mAh
- 8,001 mAh-20,000 mAh
- Above 20,000 mAh
Market Breakup by Price Range
- Low
- Medium
- Premium
Market Breakup by Application
- Smartphone and Tablets
- Cameras
- Laptops
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Lithium ion segment accounts for a major power bank market share due to its cost-effectiveness and high energy density
Lithium ion power banks are expected to be in high demand in the forecast period. Lithium-ion power banks have excellent energy density and are comparatively cheaper to manufacture than other types of batteries and also offer high charging capacities at the lowest prices. There is a growing trend towards portable and renewable energy solutions, and Li-ion power banks fit perfectly into this category as they are convenient for outdoor activities, travel, and in situations where access to the main power grid is limited or unavailable. Li-ion batteries are more energy-efficient and have a lower environmental impact compared to other types of batteries. This aligns with the growing consumer awareness and preference for eco-friendly and sustainable products, further propelling the demand for Li-ion power banks.
Meanwhile, lithium-polymer battery technology provides fast charging and is more robust than lithium-ion. Due to their safety, versatility, and lightweight properties, the usage of lithium-polymer batteries in power banks is anticipated to surge in the forecast period. Technological advancements and improvements in manufacturing processes have made Li-Po batteries more cost-effective and reliable and as production costs continue to decrease, Li-Po power banks become more accessible to a broader market, driving up demand.
Smartphones and tablets maintain their dominance in the market as they are an essential device for communication, work and entertainment
Smartphones and tablets occupy a significant share of the power bank market. In today's digital age, smartphones and tablets have become ubiquitous, serving as essential tools for communication, entertainment, work, and daily tasks. The widespread adoption of these devices across all demographics globally means there is a vast user base reliant on them, driving the need for power banks to ensure these devices remain operational throughout the day without access to a fixed power source. Modern smartphones and tablets are equipped with powerful processors, high-resolution screens, and a multitude of features that consume significant amounts of battery power. Activities such as gaming, video streaming, GPS navigation, and using social media can drain device batteries quickly, necessitating frequent recharges and boosting the demand for power banks.
Laptops are anticipated to witness sizeable growth in the power bank market in the forecast period. Laptops generally require more power to charge than smartphones or tablets, necessitating power banks with higher capacity and output. This demand for more robust power solutions drives innovation and growth in the market dedicated to laptop charging, leading to the development of high-capacity, high-output power banks.
Competitive Landscape
The market players are launching novel products to gain a competitive edge in the power bank market
Sony Group Corporation, founded in 1946, is a Japanese electronics corporation headquartered in Tokyo, Japan. The Group comprises entities such as Sony Corporation, Sony Semiconductor Solutions, and Sony Entertainment, among others.
Huawei Technologies Co., Ltd., founded in 1987, is a Chinese multinational that has emerged as a leader in information and communication technology which designs, develops, manufactures, and sells telecommunication devices.
Koninklijke Philips NV, headquartered in Amsterdam, the Netherlands was founded in 1891.Commonly known as Philips, the company has remained one of the largest electronics companies and also focuses on health technology.
Xiaomi Corporation is a multinational electronics company founded in April 2010 and headquartered in Beijing, China. It has established strong presence in the global market and is known for its smartphones.
Other major players in the power bank market include Samsung Electronics Co. Ltd., Panasonic Holdings Corporation, Lenovo Group Limited, ASUSTEK Computer Inc, Realme Chongqing Mobile Telecommunications Corp., Ltd., and Anker Innovations Technology Co., Ltd., among others.
Power Bank Market Analysis by Region
The Asia Pacific holds one of the largest market shares due to the growing adoption of smartphones by its increasing population base. This region also houses a strong demand for portable electronic devices such as speakers, cameras, and earphones, boosting the requirement for power banks. Governments of developing countries like India in the region are launching policies like the National Policy on Electronics to promote the manufacturing of electronic devices and components, including power banks. Moreover, rising disposable incomes, growing urban population, and healthy economic growth of countries like India and China are expected to aid market expansion in the coming years.
The power bank market in North America is expected to grow at a sizeable rate. With a large and mobile workforce, along with a strong culture of travel and outdoor activities, North Americans often find themselves away from reliable power sources. Power banks provide a convenient solution for charging devices on the go, whether it's during commutes, at work, or while exploring the great outdoors.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Unit of USB Port |
|
| Breakup by Battery Type |
|
| Breakup by Capacity Range |
|
| Breakup by Price Range |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Power Bank Market Analysis
8.1 Key Industry Highlights
8.2 Global Power Bank Historical Market (2018-2023)
8.3 Global Power Bank Market Forecast (2024-2032)
8.4 Global Power Bank Market by Unit of USB Port
8.4.1 1 USB Port
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 2 USB Ports
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 More Than 2 USB Ports
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Power Bank Market by Battery Type
8.5.1 Lithium-Ion
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Lithium Polymer
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Power Bank Market by Capacity Range
8.6.1 Less Than 3,000 mAh
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 3,001 mAh-8,000 mAh
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 8,001 mAh-20,000 mAh
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Above 20,000 mAh
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.7 Global Power Bank Market by Price Range
8.7.1 Low
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Medium
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Premium
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.8 Global Power Bank Market by Application
8.8.1 Smartphone and Tablets
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Cameras
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Laptops
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Others
8.9 Global Power Bank Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Power Bank Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Power Bank Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Power Bank Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Power Bank Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Power Bank Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Sony Group Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Huawei Technologies Co., Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Koninklijke Philips NV
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Xiaomi Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Samsung Electronics Co. Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Panasonic Holdings Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Lenovo Group Limited
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 ASUSTEK Computer Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Realme Chongqing Mobile Telecommunications Corp., Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Anker Innovations Technology Co., Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Power Bank Market: Key Industry Highlights, 2018 and 2032
2. Global Power Bank Historical Market: Breakup by Unit of USB Port (USD Billion), 2018-2023
3. Global Power Bank Market Forecast: Breakup by Unit of USB Port (USD Billion), 2024-2032
4. Global Power Bank Historical Market: Breakup by Battery Type (USD Billion), 2018-2023
5. Global Power Bank Market Forecast: Breakup by Battery Type (USD Billion), 2024-2032
6. Global Power Bank Historical Market: Breakup by Capacity Range (USD Billion), 2018-2023
7. Global Power Bank Market Forecast: Breakup by Capacity Range (USD Billion), 2024-2032
8. Global Power Bank Historical Market: Breakup by Price Range (USD Billion), 2018-2023
9. Global Power Bank Market Forecast: Breakup by Price Range (USD Billion), 2024-2032
10. Global Power Bank Historical Market: Breakup by Application (USD Billion), 2018-2023
11. Global Power Bank Market Forecast: Breakup by Application (USD Billion), 2024-2032
12. Global Power Bank Historical Market: Breakup by Region (USD Billion), 2018-2023
13. Global Power Bank Market Forecast: Breakup by Region (USD Billion), 2024-2032
14. North America Power Bank Historical Market: Breakup by Country (USD Billion), 2018-2023
15. North America Power Bank Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Europe Power Bank Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Europe Power Bank Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Asia Pacific Power Bank Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Asia Pacific Power Bank Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Latin America Power Bank Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Latin America Power Bank Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Middle East and Africa Power Bank Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Middle East and Africa Power Bank Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Global Power Bank Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 15.7 billion.
The market is estimated to grow at a CAGR of 6.70% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 28.1 billion by 2032.
The market is being driven by the growth of the consumer electronics sector, increasing disposable incomes, rapid urbanisation, and government support towards digitalisation.
The key market trends are growing demand for portable and consistent power backup with multiple charging ports, increasing penetration of smartphones, and technological advancements like lithium-polymer batteries.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major applications of power bank are smartphone and tablets, cameras, and laptops, among others.
The major players in the market are Sony Group Corporation, Huawei Technologies Co., Ltd, Koninklijke Philips NV, Xiaomi Corporation, Samsung Electronics Co. Ltd., Panasonic Holdings Corporation, Lenovo Group Limited, ASUSTEK Computer Inc, Realme Chongqing Mobile Telecommunications Corp., Ltd., and Anker Innovations Technology Co., Ltd., among others.
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