Power Bank Market Size, Share, Trends, Growth and Forecast 2032

Power Bank Industry Prospective:

The global Power Bank Market size was worth around USD 14.34 Billion in 2023 and is predicted to grow to around USD 29.15 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 8.2% between 2024 and 2032.

The report covers a forecast and an analysis of the power bank market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2023 to 2032 based on revenue (USD Million). The study includes drivers and restraints of the power bank market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the power bank market on a global level.

The power bank market encompasses the global industry involved in the production, distribution, and sale of portable electronic devices designed to store electrical energy for charging mobile phones, tablets, laptops, and other electronic gadgets on-the-go. Power banks serve as a convenient solution for users to recharge their devices when they are away from traditional power sources, such as electrical outlets. This market includes various types of power banks differentiated by capacity, size, compatibility, and additional features, catering to diverse consumer needs and preferences.

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Power Bank Market: Growth Drivers

A power bank is a form of portable battery that is arranged in a circuit for the purpose of controlling any type of power in and out. This electronic device is charged with the help of a USB charger and is utilized for charging various electronic appliances, such as smartphones, tablets, etc.

The rising internet penetration rate has simultaneously increased data consumption by smartphones and energy consumption due to extensive internet use drains the battery at high rates. Worldwide increasing use of smartphones is mainly propelling the power bank market. However, continuous technological upgradations of the battery capacities of various smartphones have increased due to the integration of highly efficient chipset, which may hamper the power bank market to some extent. Governments of many developed economies in North America and Europe are planning various energy initiatives, and, consequently, the adoption of hydrogen and solar cells has increased. Thereby, the rise in the integration of energy-conserving technologies is anticipated to create lucrative opportunities for the power bank market over the forecast timeframe.

This report includes a detailed competitive scenario and product portfolio of the key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces Model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market trends, growth rate, and general attractiveness.

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Power Bank Market: Segmentation

The global power bank market is fragmented on the basis of product, price range, power rating, and application.

The product segment includes portable power banks, solar power banks, and others. The demand for solar power banks is forecasted to witness notable growth in the upcoming years, owing to the rising adoption of solar banks as they are powered by sunlight and do not require any electric sockets.

The price range segment of the power bank market includes premium range, medium range, and low range. The medium range segment is projected to account for a notable market globally in the years ahead.

Based on power rating, the market is categorized into above 20,000 mAh, 8,001 to 20,000 mAh 3,001 to 8,000 mAh, and Up to 3000 mAh. The use of power banks of up to 3000 mAh is increasing in the developing Asian economies recently.

The application segment of the market is divided into tablets, portable media devices, smartphones, and others.

Power Bank Market: Report Scope

Power Bank Market: Regional Analysis

The North American power bank market is mainly driven by the rising use of tablets and smartphones across various industry verticals. The U.S. held the majority share of this regional market and Canada is expected to register notable growth in the years ahead.

Power Bank Market: Competitive Analysis

Some key participants operating in the global power bank market are

• Samsung Electronics
• Beijing Xiaomi Technology
• Sony Corporation
• Panasonic
• Limefuel
• Anker Technology
• EassyAcc.com
• Apacer Technologies
• Lenovo Group
• GP Batteries
• Intex Technologies
• Microsoft
• Hitachi
• Xiaomi Technology
• Ambrane India
• Xtorm
• Maxell
• ASUSTeK Computer

This report segments the global power bank market into:

Power Bank Market: Product Analysis

• Solar Power Banks
• Portable Power Banks
• Others

Power Bank Market: Price Range Analysis

• Low Range
• Medium Range
• Premium Range

Power Bank Market: Power Rating Analysis

• Up to 3000 mAh
• 3,001 to 8,000 mAh
• 8,001 to 20,000 mAh
• Above 20,000 mAh

Power Bank Market: Application Analysis

• Tablets
• Portable Media Devices
• Smartphones
• Others

Power Bank Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa