By combining trend forecasting and competitive intelligence, this report supports future-focused strategy in the power bank sector.
What Is The Projected Market Size & Growth Rate Of The Power Bank Market?
The power bank market size has grown strongly in recent years. It will grow from $18.59 billion in 2024 to $20.24 billion in 2025 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to growth in mobile devices and smartphones, demand for portable and backup power solutions, expansion of travel and outdoor activities, use in emergency and disaster preparedness, regulatory standards for battery safety.
The power bank market size is expected to see rapid growth in the next few years. It will grow to $31.93 billion in 2029 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to high-capacity and fast-charging power banks, growth in electric scooter and bike charging, customized power banks for specific devices, expansion in solar and wireless charging power banks, increased use in wearables and iot devices. Major trends in the forecast period include regulatory compliance in power bank safety and standards, smart and iot-enabled power banks, sustainable and eco-friendly power bank solutions, personalized power banks for specific user needs, transparency in battery sourcing and recycling, integration of power banks in outdoor adventure gear.
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What Is The Crucial Factor Driving The Global Power Bank Market?
With the huge rise in urban population, there has been an increase in demand for smartphones and tablets among people across the globe which is generating the higher requirement for power banks to charge these devices. For instance, in December 2023, according to a report published by UN Trade and Development, a Switzerland-based intergovernmental organization within the United Nations Secretariat, over the past decade, urbanization has significantly accelerated in developing economies, particularly in Asia and Oceania, where the urbanization rate increased from 44.0% to 50.6% by 2022. Therefore, huge rise in urban population are projected to propel revenues for the power bank market over the forecast period.
Segment Covered In The Power Bank Market Report
The power bank market covered in this report is segmented –
1) By Battery Type: Lithium Ion, Lithium Polymer
2) By Price Range: Low, Medium, High
3) By Application: Smart Phone, Tablet, Digital Camera, Laptop, Other Applications
4) By Distribution Channel: Online, Offline
Subsegments:
1) By Lithium Ion: Cylindrical Lithium-Ion Batteries, Prismatic Lithium-Ion Batteries, Lithium-Ion Battery Packs
2) By Lithium Polymer: Lithium Polymer Battery Packs, Flexible Lithium Polymer Batteries, Lithium Polymer Battery Cells
Key Trends Driving Growth In The Power Bank Market
Wireless power banks are a key emerging trend in the field of power bank market which has a potential for expansion in the future. This will enable people to charge their electronic devices from anywhere with an excellent touchless experience. These types of power banks provide faster charging and multiple charging options. The user does not have to take the pain of carrying an extra cable and plugging it in. Many the brands such as Samsung, Xiaomi, Ambrane, and other brands have already started investing in manufacturing wireless chargers for different types of smartphones. In October 2022, Stuffcool, an India based company that provides high-quality accessories for smartphones, tablets and laptops, launched a new Made in India 15W wireless charging Powerbank with a 20W PD wired output. The new Stuffcool wireless Powerbank comes with a light-weight and slim design, an LED indicator to show the battery percentage while charging and discharging, a micro USB port and a USB Type-C charging port.
Key Player In The Power Bank Market
Major companies operating in the power bank market include Ambrane India Pvt. Ltd., ADATA Technology Co. Ltd., Anker Innovations Technology Co. Ltd., AsusTeK Computer Inc., Griffin Technologies Inc., Intex Technologies india Ltd., Lenovo Group Ltd., Panasonic Corporation., Rav Power And Infra (India) Private Limited, Sony Corporation., Xiamoi Corporation., Aukey Technology Co. Ltd., Dell Technologies Inc., Duracell Inc., Changsha Meng Tuo Electronic Commerce Co. Ltd., iWALK Global Co Ltd., Microsoft Corporation, myCharge, OmniCharge Inc., Syska led lights Pvt Ltd., TP-Link Technologies Co. Ltd., Uimi Technology Pvt. Ltd., OnePlus Technology Co. Ltd., UNU Electronics Inc., Samsung SDI Co Ltd., Belkin International Inc., Zendure Deutschland., Jackery Inc., Shenzhen Value in Action Technology Co.Ltd., Poweradd, Tylt Inc., ROMOSS Technology Co. Ltd, Maxell Holdings Ltd., GP Batteries International Limited, Toshiba Corporation., Huawei Technologies Co. Ltd., ZTE Corporation, LG Electronics Inc., HP Inc., Acer Inc.
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Global Power Bank Market - Regional Insights:
Asia-Pacific was the largest region in the power bank market in 2024. The regions covered in the power bank market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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