Key manufacturers of high capacity power banks in North America are Goal Zero Corporation, Gridless Power Corporation, Anker, Limefuel, LLC, and iEC Technology, LLC. They hold leading shares in the otherwise niche market. Pioneers in this market are consolidating market shares through constant innovative efforts and product development.
According to a new research report released by Transparency Market Research, the sectors of healthcare and resource extraction are expected to remain as the most attractive application segments for high capacity power banks in North America. There is a high scope for the growth of power bank manufacturers in North America, owing to the growing need for maintaining an uninterrupted power supply in regions that cannot provide it. The future of high capacity power banks in terms of sales, however, is expected to be moderate, due to the long periods taken between replacements of power banks.
Disaster Management Demand Increases, Spurring Consumption of High Capacity Power Banks
“North America has experienced a high number of power outages in the recent past,” states a TMR analyst. “From reasons varying between depleting fuel supply for consistent power generation, rapidly increasing power demand from consumers, and natural disasters, both industrial and consumer goods sectors have pushed for the use of power banks.”
According to an earlier statement by the North American Electric Reliability Corporation and corroborated by the U.S. DoE, the U.S. suffers more blackouts and power outages than any other developed economy post 2000. As a result, a large number of industries and individual consumers have pushed up the demand for high capacity power banks.
Numerous Substitutes and inaccurate Representation of Market Image Continue to Hinder Power Bank Consumption in North America
One of the key restraints that the North America manufacturers of high capacity power banks are facing is the presence of older and established substitutes. The two most commonly found power bank substitutes in North America are the UPS and diesel generator systems. These products have been around for longer and have undergone a larger amount of development and product tweaking.
Additionally, high capacity power bank manufacturers also have to face a significant loss of demand created by the consumer though that all power banks are mostly meant to be sold as consumer electronics and for personal use. This has an effect on product awareness for high capacity power banks that can be useful in industrial situations.
The market for high capacity power banks in North America is expanding at a CAGR of 18.6% within a forecast period from 2015 to 2022. This market is expected to reach US$929.5 mn by the end of 2016 and US$2,596.9 mn by 2022. The industrial/B2B segment is not only the leading one for the application of high capacity power banks for 2015, but is also expected to be the fastest-growing one till 2022. By the end of 2022, this segment is expected to reach US$1.68 bn.
Portable power banks are expected to remain the most popular type till 2022, by which year they will generate an overall revenue of US$1.5 bn. The demand for solar power banks, however, is expected to grow the fastest. High capacity power banks between 20,000 mAh and 80,000 mAh are expected to be the most consumed product types in terms of power rating. This segment is also expected to be the fastest growing one till 2022, by when it is expected to reach US$1.94 bn.
The information presented in this review is based on a Transparency Market Research report, titled, “Power Banks Market - North America Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022.”
- US$1.68 bn revenue expected to be generated from industrial/B2B sector for North America power bank manufacturers by 2022.
- Most consumers of high capacity power banks in North America prefer portable banks, a segment expected to accrue US$1.5 bn by 2022.
- Most high capacity power banks preferred are between 20,000 mAh and 80,000 mAh, a segment expected to generate US$1.94 bn by 2022.
Key Segments of the North America Power Banks Market
North America Power Banks Market, By Power Rating
- 20,000 mAh
- 80,000 mAh
North America Power Banks Market, By Product Type
- Portable Power Banks
- Solar Powered Power Banks
North America Power Banks Market, By Applications
- Consumer Electronics
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