The global power bank market is anticipated to grow at a considerable CAGR of 11.2% during the forecast period (2024-2031). The market growth is mainly driven by the increase in usage of electronics devices, advancement in technology, easy availability of power banks economic prices among others. The increasing adoption of electronic devices is one of the prime factors affecting and driving the market. Nowadays everyone is involved in using electronic devices such as mobile phones, tablets or it can be laptops for their work, so the requirement for portable energy sources is arising so that simultaneously, it can recharge multiple devices. Through usage and support of power bank, it can effectively and efficiently charge the devices without any electrical plug point as it is easy to carry anywhere and everywhere. Additionally, it supports rescuing the devices when it is short of battery when the direct power source is not available.
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Rising internet penetration has increased the usage of electronic devices which has led to an increased demand for portable charging sources. Looking towards the demand for power bank key manufacturers of the power bank is making new product launches. For instance, in March 2020, Xiaomi Technology, Co., Ltd. had launched its new Mi Wireless Power Bank in India.
The global consumer electronics industry is one of the largest industrial sectors in the global economy, generating more revenue than any other goods-producing sector. Most commonly used consumer electronics includes smartphone & tablets, power bank, laptops, TVs, and more. The COVID-19 outbreak has disrupted the supply chain of the global power bank industry. The pandemic has stapled the global power bank industry from suppressing demand to hitting the production of parts and subsystems. Asian countries such as China, India, Thailand, Taiwan, and Philippines home a significant amount of contract electronic manufacturers that cater to a wide range of OEMs globally. The adverse impact of COVID-19 on these economies is likely to impact the production ability of these manufacturers, giving rise to a substantial decline in the supply of components.
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Market Coverage
- Segment Covered-
o By Battery Technology
o By Applications
o By Charging Mode
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Beijing Xiaomi Technology Co. Ltd., Lenovo Group Ltd., Microsoft Corp., Panasonic Corp., Sony Corp., AsusTeK Computer Inc., Anker Technology Co., Intex Technologies, and Ambrane India Pvt. Ltd.
- Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Power Bank Market Segment
By Battery Technology
- Lithium-Ion Battery
- Lithium Polymer Battery
By Type
- Smartphones & Tablets
- Laptop
- Others (Camera, Smart Band, Wireless Headset)
By Charging Mode
- Wired
- Wireless
By Energy Source
- Electric
- Solar
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