Power Bank Market Analysis, Industry Growth, Size, Opportunities, Share & Forecast to 2032

The global power bank market size is anticipated to showcase growth in the foreseeable future due to the increased consumption of chargeable electric products. This information is published by Fortune Business Insights in its report, titled "Power Bank Market, 2023-2030". The product is widely used for power storage to charge several electronics. The increased consumption of electronics in commuting especially by working professionals is anticipated to propel the market in the foreseeable future. In addition to this, the various features equipped in the product such as flashlights, quick charging, multiple charging ports, and others fuel the product sales. 

Fortune Business Insights™ lists out all the power bank market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

What Does the Report Contain?

The report offers an insight into the profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players, are included in the research conducted by market experts.

Drivers & Restraints

Increasing Consumption of Chargeable Electronic to Spur Growth

The increasing demand for electronic devices such as smartphones, tablets, digital watches, headphones, earphones, notepads, and much more is fueling the requirement of energy storing devices. For example, the Global System for Mobile Communications (GSMA) Association projects that the number of unique subscribers is anticipated to be around 5.9 billion by 2025. Moreover, the product sales under a single brand enhance the revenue generation of both the product and associated devices sold by the brand. Such strategy is utilized by prominent companies such as Sony Corporation, Samsung Electronics, and Xiaomi Corporation which is driving the power bank market growth.

The various innovations in the product such as USB port feature, multiple ports for energy consumption, flashlights, and a wide range of storage capacity are increasing product popularity worldwide.

Market Segmentation

By battery type, the market is bifurcated into Lithium-ion and Lithium-polymer. On the basis of power ratings, the market is segmented into up to 3000 mAh, between 3000 to 8000 mAh, between 8000 to 20000 mAh, and above 20000 mAh. By end user, the market is bifurcated into consumer power banks and industrial power banks. In addition to this, the distribution channel classifies the market into online and offline. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights

Presence of Prominent Manufacturers in Asia Pacific to Surge Product Demand

Asia-pacific is anticipated to lead the power bank market share in the forthcoming years. This is due to the presence of prominent manufacturers in the region and developing countries such as India and China. For example, as per the Indian Brand Equity Foundation, the Indian electronics industry is anticipated to showcase growth at the rate of 41 % by 2020 and reach a landmark of USD 400 billion.

North America is anticipated to hold a substantial market share in the upcoming years. This is because of the high adoption of smartphones in the region. Moreover, as per data by GSMA Intelligence, 80% of the regional population have technology-based smartphones and is expected to grow up to 91% by 2025.

The Global Power Bank Market Research/Analysis Report Contains Answers to your following Questions:

Highlights of the Report:

Competitive Landscape

Prominent Players Focus on Product Innovation to Strengthen Their Market Position

The market landscape is highly competitive with the presence of multiple prominent manufacturers globally. Several of these manufacturers are multinational companies and have production and sales rights in various regions. In addition to this, heavy investment by the prominent players in research and development has induced a strong dose of innovation in the market and is increasing product launches. The companies are also focused on partnerships with domestic players to expand their footprint across developing countries.

Industry Development:

Browse Detailed Research Summary Report:

https://www.fortunebusinessinsights.com/power-bank-market-104425