Power Banks Market to Reach 7.3% CAGR by 2030

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Market Size – USD 9.60 Billion in 2021, Market Growth – at a CAGR of 7.3%, Market Trends –Growing demand for wireless power banks.

The global power banks market size was USD 9.60 Billion in 2021 and is expected to register a revenue CAGR of 7.3% over the forecast period, according to the latest report by Reports and Data. The growing urban population, increasing use of smartphones and tablets, and advancements in technology such as solar energy power banks are some factors driving revenue growth of the market.

Power banks are becoming popular as more people use smartphones, tablets, notepads, and other devices such as digital watches and headphones. Power banks tackle the issue of power shortages and supply the required power to the connected device. The introduction of new technology items and their power requirements has been fueled by the emergence of new technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and mixed reality along with internet penetration, which is driving revenue growth of the power bank market.

Power banks have evolved from backup chargers to independent energy sources owing to an increase in the usage of hydrogen and solar cells. This has somewhat lessened the dependence of gadgets on electrical energy. The consumer electronics sector's effective distribution network plays a key role in meeting the world's population's demand for electronic goods, which is expected to drive revenue growth of the power bank market.

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Market Dynamics:

The global Power Banks market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period of 2021 and 2028. The consumer goods sector is rapidly growing due to factors such as paradigm shift in consumer preferences, rising demand for convenience and ongoing COVID-19 pandemic. Rapid revenue growth is attributed to factors such as rising disposable income, improvements in standard of living, and increasing preference for organic food and plant-based food products. Moreover, rising health-conscious population, increasing preference for online shopping and doorstep deliveries and growing inclination of veganism in several countries across the globe and increasing focus on developing novel products to cater to consumer demand are other factors expected to support market growth going ahead.

Competitive Landscape:

The research report offers details about leading companies in the global Power Banks market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.

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Major Companies:

  • Xiaomi Corporation,
  • Lenovo Group Limited,
  • Microsoft Corporation,
  • Panasonic Holdings Corporation,
  • Sony Corporation,
  • ADATA Technology Co., Ltd.,
  • Ambrane India,
  • Intex Technologies,
  • UNU Electronics Inc.,

Market Segmentation:

The report also sheds light on the market segmentation based on type, application and region:

By Battery Type Outlook

  • Lithium-ion
  • Lithium Polymer

By Power Rating Outlook

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

By Energy Source Outlook

  • Electric
  • Solar

By Distribution Channel Outlook

  • Online
  • Offline

By Application Outlook 

  • Smart Phone
  • Tablet
  • Laptop
  • Portable Media Device
  • Wearable Device
  • Digital Camera
  • Others

 Power Banks Market Segmentation based on Regions:

North America

  • S.
  • Canada
  • Mexico
  • Europe
    • Germany
    • K.
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East Africa

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