Global Power Bank Market by battery type (lithium ion, and lithium polymer.), by power rating (up to 3,000 mAh, 3,001‐8,000 mAh, 8,001‐20,000 mAh, and Above 20,000 mAh.), by distribution channel (online, and offline), by price ranges (low, mid-range, and premium range.), by energy source (electric, and solar.), by end user (industrial & B2B, and consumer electronics.)- by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ 28.0 Bn by 2026, at a CAGR of 19.26 % during a forecast period.
The major driving factor of global power bank market are increasing usage of smartphones and tablets, decline in price of power banks, increased power consumption of electronic devices due to advancement in technology, and electric outage in certain countries.
Improvement in battery capacity of electronic devices, poor quality of power banks, and increasing adoption of wireless charging technology in consumer electronic devices are hampering the growth of global power bank market.
The key opportunity of the global power banks market is development of solar and hydrogen fuel cell-based power banks.
Some of key challenges of global power banks market are complexity in designing power banks, and high cost of recycling li-ion batteries.
Rise in demand for smartphones across the globe.
Currently, the adoption of smartphones is increasing rapidly due to surge in internet penetration and rise in popularity of social networking sites in China, India, and Indonesia. Moreover, ongoing trend of e-banking and online shopping has fueled the demand for smartphones, which in turn drives the growth of the power bank market.
Use of solar and hydrogen cells in power banks.
As a part of the green energy initiative, the use of solar and hydrogen cells in power banks has increased and has even reduced the dependence on electrical energy to some extent. The utility of solar and hydrogen cell has changed from a backup/plug-in charger to an independent source of energy, which is anticipated to attract new consumers and user segments. Thus, these factors are expected to create remunerative opportunities for market expansion.
Wireless charging in smartphones.
Advancements in smartphone market such as wireless charging and quick charge facility in smartphones has helped overcome the issues of battery life in smartphones. Innovative technologies such as quick charging and VOOC have enabled smartphones to charge a smartphone in less than 30 minutes, which in turn hampers the usage of power banks. Hence, these technologies would hamper the growth of the power bank market.
APAC expected to hold the largest size of power bank market during forecast period.
Asia Pacific dominated the market during forecast period due to the rising usage of electronic devices. The growth of the overall market in APAC is mainly driven by the development in the smartphone market. The presence of prominent players and the entry of new market players are expected to create huge opportunity for the power bank market in APAC. In addition, China is the largest manufacturing hub for power banks in APAC.
Key players in the global power banks market are Anker Technology Co. Limited, Apacer Technologies, Inc., Braven LC – INCIPIO Technologies, Inc., EasyAcc.com, Inc., Goal Zero Corporation, GP Batteries International Ltd, IEC Technology, LLC, Maxell Holdings, Ltd., MiPow Limited, Mophie, Inc, Panasonic Corporation, RavPower, Samsung Electronics Co., Ltd., Sony Corporation, and Xtorm.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the global power bank market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global power bank market. The driving forces as well as considerable restraints have been explained in depth. in addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global power bank market positioning of competitors.
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