Power Banks Market - Snapshot
Power banks are products that are used to transfer energy into rechargeable batteries or secondary cells by means of electric current or solar energy. Such products are portable in nature and can provide charge to electric devices without a power socket. Growing usage of gadgets among the population and constant demand for frequent charging has resulted in the rise in demand for power banks over the years. Power banks are generally used outdoors especially while travelling; hence, quick and fast recharge of devices is one of the prime requisites of consumers. Additionally, some consumers also travel for longer durations and need to charge multiple times and/or multiple devices that has resulted in the rise in demand for power banks in recent years. Younger population is inclined toward using laptops rather than desktops and use cell phones extensively, thus resulting in higher demand for convenient charging solutions. In addition to this, strong distribution networks also play an important role in the global power banks market.
The power banks market has been segmented on the basis of product type into portable power banks, solar power banks, and phone charging cases. Portable power banks dominated the market due to the rise in adoption of electronic devices with the convenience of charging multiple devices at the same time. Additionally, portable power banks are readily available which makes it the market leader. However, solar power banks are expected to witness the fastest growth rate during the forecast period. Based on power rating, the market has been segmented into up to 3,000 mAh, 3001 mAh to 8000 mAh, 8001 mAh to 20,000 mAh, and above 20,000 mAh. The market has been further segmented on the basis of port type, application, price range, and distribution channel. Based on port type, the market has been segmented into two and more than two ports. In terms of application, the market has been segmented into industrial/B2B and consumer electronics. By price range, the market can be segmented as under US$ 10, US$ 10 – US$25, US$ 26 – US$50, US$ 51 – US$100, and US$ 100 & above. By distribution channel, the market has been segmented into online distribution channel and offline distribution channel. Offline distribution channel has been further segmented into supermarkets and hypermarkets, exclusive stores, multiband retail stores, and others.
The increase in use of portable electronic devices and gadgets such as smartphones, iPads, notepads, bluetooth speakers, headphones etc. across the globe has resulted in the rise in demand for power banks. Younger adults are inclined toward purchase of several gadgets and devices for a variety of purposes such as internet, music video, and games which is triggering the growth of the power banks market. With the advent of new technology and penetration of internet services, there is significant rise in demand for gadgets and devices, thus boosting the power bank market.
Geographically, the power banks market is bifurcated into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. Asia Pacific held the majority share of the global power banks market. Asia Pacific dominated the market in 2017 due to the rising usage of electronic devices. Additionally, the region is also the manufacturing hub of electronic devices including power banks and is a major exporter of power banks across the globe. The region is also expected to witness the fastest growth during the forecast period. This is mainly due to continuous product innovation among manufacturers which includes higher battery capacity and multiple ports products.
Some of the key players in the power banks market include 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. The key players operating in the power banks market adopt numerous strategies to sustain in the market. Product development and acquisition and partnership are some of the main strategies adopted by key players to gain a competitive edge.
Power Banks Market - Overview
The power bank market report provides analysis for the period 2016–2026, wherein 2018 to 2026 is the forecast period and 2017 is the base year. The report covers all the major driving factors and key trending topics impacting the growth of the power banks market over the forecast period. It also highlights the restraints and opportunities expected to influence the market during the aforesaid period. The study provides a comprehensive outlook on the growth of the power banks market throughout the forecast period across different geographies, including North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America.
The report covers the entire overview of the market including the market dynamics such as drivers, restraints, opportunities, and trends that are predicted to leverage the existing nature and prospective status of this market. The competitive position of the power bank market is studied through the Porter’s Five Forces analysis. Additionally, current indicators of diverse macro-economic factors are contextualized under key market indicators.
The power bank market has been analyzed in (US$ Mn) in terms of revenue, in (Million Units) in terms of volume, and the CAGR (%) for the forecast period 2018 to 2026 has been provided. The power bank market is a global report studied on the basis of product type, power rating, battery type, port type, application, price range, distribution channel, and by region.
The report also highlights the competitive landscape of the power bank market, thereby positioning all the major players according to their geographic presence and recent key developments. The comprehensive power bank market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the growth of the power bank market. Besides, competition matrix and market share analysis has been included under the competitive landscape to understand the top players’ contribution in the power banks market. Each company is studied on the basis of basic information, financial highlights, revenue highlights of regional contribution and segment contribution, and product portfolio. Additionally, the company strategy and recent developments if any are also incorporated under each company profile section.
Some of the key players in this market include 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. The key players operating in the power bank market adopt numerous strategies to sustain in the market.
Power Banks Market
Global Power Banks Market, Product Category Analysis
- Portable Power Banks
- Phone Charging Cases
- Solar Power Banks
Global Power Banks Market, Power Rating
- Up to 3,000 mAh
- 3,0001 mAh-8000 mAh
- 8,001 mAh-20,000 mAh
- Above 20,000 mAh
Global Power Banks Market, Battery Type
- Lithium Ion
- Lithium Polymer
Global Power Banks Market, Port Type
- More Than Two
Global Power Banks Market, Application
- Consumer Electronics
Global Power Banks Market, Distribution Channel
- Online Distribution Channel
- Offline Distribution Channel
- Supermarkets & Hypermarkets
- Exclusive Stores
- Multiband Retail Stores
Global Power Banks Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of MEA
- South America
- Rest of South America