Mobile Power Bank Market: Speedy Urbanization and Manufacturing Development have contributed to the Exponential Growth of Mobile Power Bank Market Growth

The Mobile Power Bank Market size was valued at USD 25.44 Billion in 2023 and the total Mobile Power Bank Market revenue is expected to grow at a CAGR of 2.62% from 2024 to 2030, reaching nearly USD 30.5 Billion by 2030.
Mobile Power Bank Market Overview
A power bank, also known as a portable charger, is a compact, battery-based device designed to recharge various electronic gadgets when traditional power sources are unavailable. These devices store electrical energy, which is used to charge mobile phones, tablets, laptops, cameras, and other portable devices. They are frequently used when traveling or camping since they let gadgets be charged without the need for an outlet. Power banks are available in several sizes and capacities, allowing you to select one that best suits your needs in the Mobile Power Bank Market. A power bank's power efficiency is measured in watt-hours (Wh). This measures the amount of energy a power bank can store and release at once. A power bank's capacity is measured in milliamp-hours (mAh). This is the maximum current that the power bank can provide. Essentially, the more milliamp hours a power bank has, the longer it can charge your device. On the other hand, the higher the watt-hours, the faster a power bank can charge your device.

February 2023 - UBON launched a new PB-X35 Transparent Power Bank in India that stands out from other power banks in the Mobile Power Bank Market due to its unique transparent aesthetic. It facilitates a peak power output of 22.5 watts, allowing phones to get charged quickly and also features twin input charging connectors and a 2.0A output charging port, allowing to charge two devices simultaneously. To ensure the safety of the charger and the devices, the power bank has overheating protection, short circuit protection, and overcharge protection.

January 2023 - Consumer electronics brand Ambrane has announced the launch of Stylo Boost Power Bank with a 40000mAh battery capacity, a 60W ultrafast charging capacity, and the capability of charging smartphones and laptops.

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Mobile Power Bank Market Dynamics
Increasing demand for comfortable portable charging for various electronics and ease in availability of power banks has led to significant growth in the mobile power bank market

This trend is driven by the proliferation of smart devices, the need for constant connectivity, and advancements in battery technology. Consumers are seeking convenient and reliable charging solutions for their smartphones, tablets, laptops, and other gadgets while on the go. Consequently, manufacturers are innovating and expanding their product lines to meet this rising demand, contributing to a competitive and dynamic market landscape. The growing number of mobile users is the key attribute behind the growth of the market. Mobile power bank offers some benefits such as high charging capacity, durability, multiple charging ports and smart or intelligent charging for Smartphones are driving the growth of the mobile power bank market.

Some of the key driving factors such as its access to power anywhere, high portability and universal charging to charge two different devices at the same time are driving the growth of the market. Furthermore, mobile power banks are very cheap to purchase, which leads to the growth of the market. The introduction of advanced technology in mobile power banks, the increase in power consumption of Smartphones, growing adoption of wearable devices are other driving factors behind the growth of the mobile power bank market. In 2020, 0.41 million metric tons of lithium-ion battery cell equivalent (LCE) were produced. In 2021 More than 0.54 million metric tons of LCE were produced. In 2022, Demand for automotive lithium-ion batteries increased by 65% to 550 gigawatt hours (GWh). In 2023, worldwide lithium production increased by 23% to around 180,000 tons, in response to strong demand from the lithium-ion battery market.

Lithium-ion batteries’ high recycling cost and complexity in the designing process are the major restraining factors that hinder the growth of the mobile power bank market

Lithium-ion batteries' high recycling cost and the complexity of their design process are major restraining factors that hinder the growth of the mobile power bank market. The recycling process for lithium-ion batteries involves sophisticated techniques and substantial financial investment, making it less economically viable. Additionally, the intricate design and manufacturing process of these batteries require specialized materials and precision engineering, which can elevate production costs and limit scalability.

Environmental concerns also play a significant role, as improper disposal of lithium-ion batteries can lead to hazardous waste issues. The stringent regulations and the need for sustainable disposal and recycling methods add another layer of complexity and cost. These factors collectively create significant barriers for manufacturers and impede the expansion and innovation within the portable charging solutions in the mobile power bank market.

Power Banks Based on Solar and Hydrogen Fuel Cells Hamper Mobile Power Bank Market Growth

Several companies are currently developing power banks that charge using solar energy or hydrogen fuel cells. TW Horizon Fuel Cell Technologies a Chinese company, has introduced the MINIPAK, a hydrogen fuel cell-based power bank. It recharges smartphones and other smart devices with refillable and replaceable fuel cartridges. The HYDROSTIK cartridge from the company is UN-certified for metal hydrides. They are user-friendly and do not emit any pollution when producing electricity. These features are expected to significantly increase demand for solar power banks, posing a challenge to the global power bank rental services Mobile Power Bank Market in the coming years. In addition, the introduction of the lightest and smallest power banks. The newly designed power bank has an 8000mAh capacity and is credit card-sized, allowing customs to carry it anywhere.

Mobile Power Bank Market Recent Developments

July 2023: A mobile power bank called the E30 Pro has been released by the Taiwan-based technology company Teclast. The power bank has an incredible 30000mAh battery capacity on top of a plethora of upgraded functions and cutting-edge technology in the Mobile Power Bank Market. Additionally, the gadget features many charging methods and quick charging capabilities. The well-accepted E20 Pro mobile power bank's successor, the E30 Pro, maintains the same dedication to dependability and quality. However, the E30 Pro raises the bar for portable power thanks to its larger battery and improved charging capability. This minimal iteration approach demonstrates Teclast's commitment to ongoing innovation and customer-centered design.

February 2023: Each of the three new additions to the power station array of portable power by Mophie, a leading name in power, is made to conveniently and quickly charge popular smartphones & mobile devices. Your digital gadgets receive quick, portable power from the Mophie power station. Up to 20W of rapid charging power is output through its USB-C PD connector. Additionally, it features two USB-A connections one can simultaneously charge three devices. The little power station has a 10,000 mAh internal battery that can handle day's demands.

August 2022: In India, Xiaomi unveiled its first wireless power bank. The latest Mi Wireless Power Bank costs 2,499 and comes in black. The power bank is for sale on mi.com, Mi Home, as well as Mi Studios. With a 10,000mAh capacity and Qi certification, the Mi Wireless Power Bank is available. Both the USB Type A output port and the USB Type C input port support two-way 18W charging. Two mobile devices can be charged simultaneously using the gadget. Additionally, it has "non-skid" charging. In addition to promising a tangle-free experience, wireless technology also paves the way for what mobility and use on future surfaces and pads truly entail.

August 2022: Ambrane, a mobile accessories brand in India, expanded its lineup of mobile accessories with the addition of its wireless mobile power bank Aerosync PB-10 in the country. The multipurpose power bank supports 18W two-way fast charging.
Mobile Power Bank Market Segment Analysis
By Product Type, the portable mobile power bank segment dominated the market in 2023. Portable power banks consist of a special battery in a special case with a unique circuit to control power flow. It allows users to store electrical energy in the power bank and then later use it to charge up a mobile device. Portable power banks have large batteries within them that can hold large capacity, which drives the growth of the Mobile Power Bank Market.

By Battery Type, the Lithium-Ion segment led the mobile power bank market in 2023 and is expected to grow rapidly during the forecast period. The demand for lithium-ion batteries has grown significantly in recent years. Lithium-ion batteries offer some benefits such as high energy density, self-discharge rate, low maintenance, no memory, and no scheduled cycling required to prolong the battery's life are driving the growth of the market. In addition, manufacturers are continuously improving lithium-ion batteries with new and enhanced chemical combinations are also driving the growth of the market. Furthermore, most of the mobile manufacturing companies use lithium-ion batteries over lithium-polymer batteries, which are also driving the growth of the mobile power bank market.



By capacity, the 8,001 mAh – 20,000 mAh segment dominated the Mobile Power Bank Market in the last few years and is expected to witness high growth during the forecast period. Regular use of the internet and insufficient battery capacity of Smartphones are driving the demand for high power rating power banks.
Mobile Power Bank Market Regional Analysis
China's Consumer Electronics Research and Development (R&D) Leadership Fuels the Mobile Power Bank Market Growth

The Asia Pacific region is expected to continue to dominate the global Mobile Power Bank Market through 2030, with a share of over 35% in 2023. The Asia Pacific power bank market is segmented into several regions, including China, India, Japan, Australia, ASEAN, and the rest of Asia Pacific. Power banks with a capacity of 9500–12499 mAh currently hold the largest share of the Mobile Power Bank Market, but power banks with a capacity of 12,500–15,499 mAh are expected to grow the fastest.

China's consumer electronics research and development (R&D) leadership significantly impacts the Mobile Power Bank Industry. The country's extensive manufacturing capabilities and relatively low labor costs make it a global leader in electronics exports. In 2023, China accounted for 27.4% of the Global Mobile Power Bank Market. In 2023, over 61 percent of smartphone users stated that they used the shared power bank company Energy Monster most- At the same time, it was also the most-seen brand in the eyes of Chinese consumers. Shared battery pack service provides a convenient solution for people on the go to charge their smartphones. Pick-up stations can be found in restaurants, shopping malls, and transportation hubs.



This dominant Mobile Power Bank Market share is crucial in shaping China's mobile power bank industry. The demand for rapid and efficient charging solutions directly correlates with the nation's supremacy in electronic manufacturing. As a result, China's mobile power banks market is continuously bolstered by the ongoing advancements and innovations in the consumer electronics sector.

In 2023, the global trade in mobile power banks remained strong, driven by the ever-growing demand for portable charging solutions. China dominated the export Mobile Power Bank Market, contributing over half of the total exported units, followed by South Korea and Taiwan. The United States and Europe were the largest importers, reflecting their high consumer demand for advanced and reliable power banks. This dynamic market is influenced by technological advancements, consumer preferences, and an increasing focus on sustainable products.


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Global Mobile Power Bank Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 25.44 Bn.


Forecast Period 2024 to 2030 CAGR:
2.62%
Market Size in 2030:
US $ 30.5 Bn.


 Segments Covered:
by Product
Portable Mobile Power Banks
Solar Mobile Power Banks
Battery Cases


by Battery Type
Lithium-Ion
Lithium-Polymer


by Capacity
Below 3,000 mAh
3,001 mAh – 8,000 mAh
8,001 mAh – 20,000 mAh
Above 20,000 mAh



Mobile Power Bank Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Leading Mobile Power Bank Manufacturers include:
1. Samsung Electronics
2. Sony Corporation
3. Microsoft Corp
4. Panasonic Corporation
5. Xiaomi
6. Apacer Technology
7. Anker Technology Co. Limited
8. Gold Peak Industries
9. Lenovo Group Ltd
10. PNY Technologies
11. The Targus Corporation
12. OPPO Electronics Corp
13. ADATA Technology
14. AUKEY
15. RAVPower
16. GRIFFIN
17. Mophie
18. AMBRANE
19. INTEX
20. Beijing Xiaomi Technology Co. Ltd.
21. Microsoft Corporation
22. Asustek Computer Inc.
23. OnePlus Technology (Shenzhen) Co. Ltd.
Frequently Asked Questions:
1. What is the market size of the Global Market in 2023?
Ans. The market size Global Market in 2023 was USD 25.44 Billion.

2. What are the different segments of the Global Mobile Power Bank Market?
Ans. The Global Mobile Power Bank Market is divided into Product, Battery Type, and Capacity.

3. Which region is expected to hold the highest Global Mobile Power Bank Market share?
Ans. The Asia Pacific dominates the market share in the mobile power bank market.

4. What is the Forecast Period of the Global Mobile Power Bank Market?
Ans. The Forecast Period of the market is 2024-2030 in the market.