Global Power Bank Market: Snapshot
The issue of mobile battery drainage is swelling with the rising penetration of high-speed internet. Social media mobile applications enabled by the internet and other services such as mobile games and video streaming consume high power, which in turn drains the battery. This is, thereby, escalating the demand for power banks. Besides this, the proliferation of smartphones is also working in favor of the global power banks market.
According to a report by Transparency Market Research (TMR), the opportunity in the market will rise to a valuation of US$36.15 bn by the end of 2022, expanding at a remarkable CAGR of 25.9% between 2014 and 2022. The market holds immense potential, which is likely to encourage small players to foray into the arena. However, this will boost the competitive pressure on large players to offer quality products at low prices, which is expected to act as a stumbling block for key players. Furthermore, the advent of smartphones with solar panel fixed over screens is likely to slow down the rate of adoption of power banks in the long run.
Demand for Portable Power Banks to Remain High through 2022
On the basis of product type, the global power banks market is segmented into solar power banks, portable power banks, and phone charging case. The portable power banks segment will continue to account for the leading share in the market in terms of both value and volume until 2022. The convenience offered by them is the primary factor that makes portable power banks the most preferred type. Moreover, rapid technological advancements are leading to the increase in functionality in portable power banks, thereby driving the growth of the segment.
Based on power ratings, the report divides the market into above 20,000mAh, 8,001–20,000mAh, 3,001–8,000mAh, and up to 3,000mAh. The 3,001–8,000mAh segment will remain dominant in terms of revenue throughout the forecast horizon. The spiraling demand for power banks with this power rating in industrialized economies in North America and Western Europe is supplementing the growth of the segment. These regions have a wide consumer base with two or more gadgets, which prefers cost-effective power banks that can charge multiple gadgets simultaneously.
Asia Pacific to Offer Ample Lucrative Opportunities Owing to Rising Penetration of High-Speed Internet
From the geographical standpoint, the global power bank market is categorized into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. North America will be the forefront of growth throughout the same period, closely followed by Europe. The growth of these regions can be attributed to the presence of a large number of key players coupled with rapid technological advancements. The surging demand for power banks that can charge multiple devices at a time is also supplementing the growth of these regions.
Asia Pacific, on the other hand, will expand at a phenomenal pace during the review period, with developing economies such as India and China emerging as sights of high growth rates. The proliferation of smartphones in these countries is playing a vital part in the expansion of the power bank market in the region. The rising penetration of high-speed mobile internet and availability of power banks at cheap prices are propelling the growth of the region.
Some of the prominent companies operating in the global power bank market are MiPow Limited, Mophie Inc., Xtorm BV, Hitachi Maxell Ltd., EassyAcc.com Inc., Limefuel LLC, Sony Corporation, Panasonic Corporation, Apacer Technologies Inc., Samsung Electronics Co. Ltd., and Anker and GP Batteries International Ltd.
Power banks i.e. external batteries have become popular as the battery life of smartphones, MP3 players, tablets and laptops is beaten by the amount of time people spend using them each day. Batteries of such electronic devices drains in a short period of time thus justifying purpose of power banks.
The research report provides a detailed analysis of trends in power banks market. The report also includes extensive analysis of the industry drivers, restraints, opportunities and challenges. The market study provides comprehensive assessment of vendor’s strategies for succeeding in the business. The report segregates the market based on type of battery, power rating and type of power banks across different geographies, such as North America, Europe, Asia Pacific, Middle-East and Africa and Latin America. For each of these geographies drivers, restraints and opportunities have been analyzed and have been provided in the report. Different regions analyzed in this report include India, China, Japan, U.S., Oceania (New Zealand and Australia), Scandinavia, EU5 (Italy, Spain, Germany, France, UK), CIS (Russia), Saudi Arabia, Israel, South Africa, UAE, and Brazil among others. The market research study analyzes the power banks market on global level, regional level and country level.
The research report estimates power banks market in terms of revenue (US$ billion) and volume (Mn units) for years 2012 and 2013, along with market forecast for the period 2014 to 2022. The detailed value chain analysis helps market players to formulate their business strategies at every stage of their business. Moreover, the market estimates have been analyzed keeping in mind different factors including technological, environmental, economical, legal and social. The detailed distribution channel analysis for global power banks market is provided in the report. The market attractiveness of different types of power banks such as portable power banks, solar power banks and battery cases (phone charging case) elucidates the most attractive segment. This will help players in the ecosystem of power banks to invest in the right opportunity segment for obtaining competitive advantage.
Key players have also been profiled on the basis of financial overview, company overview, segmentation, business strategies, and recent developments in the power banks market. Market participants profiled in this report are Hitachi Maxell, Ltd., Limefuel LLC, Xtorm BV, Mophie, Inc., Mipow Limited, EassyAcc.com, Inc., Panasonic Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Apacer Technologies, Inc., GP Batteries International Ltd, and Anker. The research report also explains the leading players in the ecosystem of the global power banks market and china power banks market.
The segments considered within the scope of the report are – based on type of power banks: portable power banks (excluding solar power banks), battery cases (phone charging cases), and solar power banks; based on power ratings: up to 3,000 mAh, 3,001 mAh – 8,000 mAh, 8,001 mAh – 20,000 mAh and above 20,000 mAh; based on type of battery: lithium-ion and lithium-polymer. Out of these segments, portable power banks with capacity 3,001 mAh – 8,000mAh power rating is the most attractive segment. Power banks market growth is mainly driven by growing adoption of smartphone, tablet and laptop users globally. Increasing use of smartphones for various applications is driving the need of external battery and therefore power banks to keep these device operating.
Market Segmentation of Global Power Banks Market:
Power Banks Market, By Product Type
- Portable Power Banks
- Phone Charging Cases (Battery Cases)
- Solar Power Banks
Power Banks Market, By Power Rating
- Up To 3,000 mAh
- 3,001 mAh – 8,000 mAh
- 8,001 mAh – 20,000 mAh
- Above 20,000 mAh
Power Banks Market, By Battery Type
Global Power Banks Market, By Geography
- North America
- Asia Pacific
- Middle-East and Africa
- Latin America