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Power Bank Market

Power Bank Market

Power Bank Market By Energy Source (Electric, Solar), By Batter Type (Lithium-ion, Lithium Polymer, Petroleum Refining), By Distribution Channel (E-commerce, Brick and Mortar), By Capacity - Global Market Insights 2019 to 2029

Power Bank Market
FACT4687MR
  • Mar-2022
  • List of Tables : 94
  • List of Figures : 296
  • 170 Pages
  • Consumer Goods

Power Bank Market Exhibits Stellar Growth on Back of Internet Enabled Smart Apps

Power bank market will continue to present remunerative growth opportunities on the back of an astounding 18% CAGR during the forecast period (2019-2029). 

Consumer trends such as high-definition multiplayer online battle arena (MOBA) games are draining smartphone batteries faster than ever. The global power bank market presents incremental 5.3X opportunities during the forecast period (2019 - 2029).

The penetration of smartphones in developing regions of the world furthers the demand for power banks. The current COVID-19 pandemic lockdown is heightening the use of mobile phones for video streaming and gaming thus giving a boost to the market.

Advancements in technology such as solar energy power banks will drive mass-adoption among millennial consumers. The increasing digitization of business processes that aid information access through smartphones will continue to discharge smartphone batteries and generate demand for power banks.

Further, the introduction of smart devices and smart homes that can be monitored, and controlled using smartphones warrant constant internet connectivity along with enabling battery-intensive features such as bluetooth, WiFi, and GPS. Amid surging demand for convenience through technology, the power banks market is set for an impressive growth trajectory.

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Lithium Ion Batteries to Expand Profit Pools

On the back of production-cost efficiency and minimal battery discharge, the lithium Ion battery type segment leads with over 80% share of the total market revenues. This can be attributed to early adoption of this battery type in manufacturing power banks. Also, superior energy density of lithium ion batteries is driving the growth of this battery type segment. Its counterpart, Lithium Polymer battery type accounts for the remaining 20% of the total market revenues.

Power bank market forecast by Fact.MR

The battery type segment offers the most remunerative growth opportunities with a stupendous 19% CAGR during the forecast period. Increasing accessorization of power banks is creating high demand for sleek yet high capacity power banks. Lithium polymer based batteries are comparatively easy to mold into flatter shapes. When coupled with superior charging pace offered by lithium polymer based batteries the segment will continue to gain market share over the forecast period.

East Asia to Dominate Global Sales

East Asia emerges as the leader of global sales with over 27% of the total market value share. Booming digital economies in this region such as China, South Korea, and Japan drive sales of power banks. Consumers are using their smartphones for almost everything in these countries especially now during the prevailing pandemic.

This is decreasing battery life and increasing the need for power banks. Penetration of video gaming, e-commerce, and smart devices connected with mobiles contributes significantly to the growth of the power banks market in East Asia.

Power bank market forecast by Fact.MR

North America accounts for the second largest market share of over 26% share of the total market value. Enhanced connectivity of various devices such as smart kitchen appliances, security systems, and smart accessories is a prime factor for power bank sales in North American countries. The high disposable income of millennial consumers is complimenting the growth of connected devices and the resultant need to recharge smartphones and smart devices using power banks.

COVID-19 Impact on Power bank Sales

As the world economy begins to realize the impact of COVID-19, power bank manufacturers face production and supply chain challenges like never before. The rapid rate of COVID-19 transmission makes it mandatory to halt operations in affected areas.

Consumers are actively practicing social distancing which reduces offline sales considerably. Further, suspension of non-essential deliveries by e-commerce giants such as Amazon, Flipkart restraints market growth. Success of large scale prevention and cure initiatives by countries will determine the course and duration of operation lockdowns.

Power bank manufacturers must plan ahead and devise recovery strategies targeting fast recovery areas as a priority. For manufacturers with existing stock of products, marginally affected areas such as Singapore, Indonesia present sustainable growth opportunities.

However, transportation and logistics with ubiquitous trade restrictions is a tough challenge for the power bank market. The adverse conditions in China and the US is a worrying factor as they account for a majority of lithium reserves in the market. Hence, the rate of recovery and containment in both these countries will decide the impact of COVID-19 on the power bank market.

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Size: Capacity Ratio to Drive Adoption

China, the US, Zimbabwe, and Brazil are the top 5 countries in terms of lithium reserves. Manufacturers of power banks are forging strategic partnerships with value chain stakeholders in these regions. Prominent players differentiate their products based on design, size, and battery capacity. Advancements in charging technology such as type-C ports and fast charging integrated circuits present gainful opportunities.

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Global Power Bank Market: In-Depth Assessment on Key Segments

The global power bank market is segmented on the basis of capacity, energy source, battery type, distribution channel and region.

  • By Capacity :

    • Up to 3,000 mAh
    • 3,001 mAh-8,000 mAh
    • 8,001 mAh-20,000 mAh
    • Above 20,000 mAh
  • By Energy Source :

    • Electric
    • Solar
  • By Batter Type :

    • Lithium-ion
    • Lithium Polymer
    • Petroleum Refining
  • By Distribution Channel :

    • E-commerce
    • Brick and Mortar
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.

- FAQs -

Power Bank market to show astounding 18% CAGR during the forecast period 2019-2029.
East Asia to account major market share followed by North America.
Lithium ion batteries segment to show profit opportunities account 80% of market share.

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