POWER BANK MARKET TO REACH USD 21.4 BILLION BY 2027 | CAGR 10.5% – FORENCIS RESEARCH

Global Power Bank Market: Key Highlights

• According to the new market research report “Power Bank Market by Battery Type (Lithium-Ion, Lithium Polymer), by Capacity (Up to 3,000 mAh, 3,000- 8,000 mAh, 8,000-20,000 mAh, Above 20,000 mAh), by Port Type (1 USB Port, 2 USB Port, Others), by Distribution Channel (Online, Offline), by Charging Source (Electric, Solar, Others),by Application (Laptops & Tablets, Smartphones, Wearable Devices, Portable Media Devices, Camera, Others), by Region (North America, Asia-Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2019 to 2027)”, the global Power Bank market is estimated to reach USD 21.4 Billion by 2027 at a CAGR of around 10.5% during the review period.
• The power bank is a portable charger designed to recharge few electronic gadgets which range from slim pocket-sized banks to high power capacity power banks
• Most power banks are coming out with USB input port which customers can use to connect to a wall socket, or USB to computer to charge their batteries

Global Power Bank Market: Key Market Dynamics

• Increasing the adoption of smartphones and the reduction in the cost of power banks are expected to drive the market during the forecast period
• Moreover, the use of solar cells and hydrogen cells is expected to create an opportunity for the power banks market during the assessment period
• However, quality-related to power banks is projected to hamper the growth of the market during the forecast period. Moreover, high competitive market and heating issues in power banks are expected to become a challenge for the power bank market
• Asia-Pacific is expected to dominate the market and North America is expected to grow at a faster rate during the forecast period

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Global Power Bank Market: Regional Overview

• Asia-Pacific

Asia-Pacific is expected to dominate the market during the projected period. Increasing the consumer electronics market, increasing population, and growing disposable income are driving the market in the Asia-Pacific region. China and India are the countries expected to hold the largest market share in this region. Moreover, the presence of global players such as ADATA Technology Co. Ltd., Sony Corporation, Xiaomi, Lenovo, Syska, and TP-Link Technologies Co., Ltd among others are further boosting the market in the region.  

• North America

North America is expected to grow at a higher growth rate during the projected years. Adoption of the latest technological infrastructure, large sales and distribution channels for the electronics market and increasing disposable income of end-users are fueling the growth of the market in the North America region. A large number of mobile and laptop manufacturers are present in North America which directly increases the power bank market in North America

Global Power Bank Market: Key Players Overview

• ADATA Technology Co. Ltd.:

ADATA Technology Co. Ltd is a Taiwan-based company engages in the manufacturing and sales of a flash memory product. The company’s product portfolio includes consumer, gaming, industrial, powertrain, and LED lighting. ADATA Technology Co. Ltd is one of the key players in the Asia-Pacific which majorly operates in the Consumer Electronics market. The company provides different capacity power bank such as 5,000mAh to 9,999mAh, 10,000mAh to 19,999mAh, and 20000mAh and Bigger. In May 2019, the company launched lithium polymer-based S20000D and S10000 power banks with the dual USB port.

• Xiaomi:

Xiaomi engages in the provision of smartphones, hardware, and software products. The company operates through three business segments such as hardware, e-commerce & new retail, and Internet Services. The company offers, power bank pro, headphones, in-ear headphones pro, body composition scale, sphere camera, home security camera, action camera, Bluetooth headset basic with dock, Bluetooth speaker robot builder, electric scooter, and bedside lamp. Xiaomi provides Slim 5000mAh, Business Card Sized 10000mAh, and Super-sized 16000mAh to their end-users. In February 2020, the company launched 10,000mAh and 20,000mAh capacity power banks in India.

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