Global Power Banks Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Power Banks Market Overview

"The Power Banks Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

Power bank is a type of multipurpose portable charger used to recharge variety of electronic gadgets such as laptops, tablets, smartphones, portable devices, and MP3 players. Power Banks comprises of a special battery with a special circuit to control power flow that allows storage of electrical energy and then later use it to recharge electronic devices.

They use either use lithium-ion or lithium-polymer cells to charge any device. Power banks are available in various capacity, colors, LED lights, materials, mechanisms, shapes, sizes, and styles in the market. Power banks are also used to charge GPS systems, cameras, portable speakers etc.

Increasing smartphone penetration across the globe, rising power consumption due to high usage of these devices, and availability of cost-effective power banks are major factors expected to drive growth of the global market. In addition, rising R&D activities regarding promotion of solar and hydrogen cells in power banks is another important factor expected to boost growth of the target market over the forecast period. Moreover, increasing individual preference towards digital products, improved standard of living, and technological advancements are expected to fuel growth of this market in the near future.

However, availability of poor quality of power banks and innovative alternatives such as wireless and fast charge for electronic devices are factors expected to restrain growth of the global market over the forecast period.

Ongoing trend observed in the target market is increasing R&D investment by manufactures to promote usage of solar and hydrogen cells in power banks. This will ensure proper safety measures in the product and also promote usage of renewable energy sources.

The market in North America dominates the global market in terms of revenue, owing to increasing adoption of innovative portable devices and technological advancements in various countries in this region.

The market in Asia Pacific is projected to have highest growth in terms of CAGR over the forecast period, owing to increasing number of new product launches of tablets, smartphones, and other portable devices in various countries in this region. In addition, leading manufacturer for power banks are majorly present in China.

Global power banks market segmentation:

Segmentation by product:

• Portable Power Banks
• Phone Charging Cases (Battery Cases)
• Solar Power Banks

Segmentation by application:

• Smart phones
• Tablets
• Portable Media Devices
• Others

Segmentation by battery type:

• Lithium-ion
• Lithium-polymer

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa