The Global Portable Battery Pack (Power Banks) Market was valued at US$ 986.9 Million in 2021 and is expected to surpass US$ 1985.5 Million by 2030, registering a CAGR of 8.3% during the forecast period (2022-2030), according to the Global Portable Battery Pack (Power Banks) Market, By Battery Type (Li-ion (Lithium ion) Battery, Li-polymer (Lithium-Polymer) Battery, Nickel Metal Hydride Battery and Ni-Cd (Nickel Cadmium) Battery), By Capacity Segment (1,000 mAh to 2,500 mAh, 2,500 to 5,000 mAh, 5,000 to 7,500 mAh, 7,500 to 10,000 mAh and Above 10,000 mAh), By Product Type (Mobile Phones, Tablets and Others (portable media players and other electronic devices), By Price Range (Low, Mid and High), and by Region (North America, Latin America, Europe, APAC and Middle East & Africa), published by Coherent Market Insights.
Power banks are used for providing portable power to charge battery-powered items such as mobile phones and other similar items that have a USB interface. These power banks are used to charge mobile phones, tablets, and other portable media players and other electronic devices. These power banks are offered in various capacities including 1,000 mAh to 2,500 mAh, 1,000 mAh to 2,500 mAh, 5,000 to 7,500 mAh, and 7,500 to 10,000 mAh.
Smartphones are being adopted across emerging economies such as Indonesia, China, and Brazil at a rapid pace. This is typically owing to growing internet penetration and popularity of social networking in these countries. According to Coherent Market Insights’ analysis, shipments of smartphones worldwide reached 1.2 billion units in 2014 from 1.1 billion units in 2013. In this, around 45% of smartphones units were shipped to China in 2014. Moreover, growing trend of mobile shopping, e-banking, and bring your own device (BYOD) is accelerating the demand for smartphones worldwide is expected to propel growth of the global portable battery pack (power banks) market during the forecast period.
Key Developments
- Key companies are focused on product development, in order to enhance their product portfolio. For instance, in August 2022, Energizer Holdings, Inc., a manufacturer, and distributor of specialty batteries, and household batteries. Introduced a new power bank series with 3 different battery capacities 10000 mAh, 20000 mAh, and 30000 mAh.
- Key companies are focused on product development, in order to enhance their product portfolio. For instance, in February 2020, Xiaomi, a designer, and manufacturer of consumer electronics introduced two power bank variants with 10,000 mAh and 20,000 mAh.
Global Portable Battery Pack (Power Banks) Market - Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 pandemic has adversely affected the global portable battery pack (power banks) market. Portable Battery Pack (Power Banks) is widely used to charge cell phones, tablets, speakers, and even laptops. As they have the capability to be small enough to fit in pockets or they can be larger with a higher power capacity. But due to the pandemic, portable battery packs (power banks) faced financial crises that affected their R&D and supply chain management. Which directly impacted the sales of the portable battery pack (power banks). Hence, the global portable battery pack (power banks) market witnessed slow growth during the pandemic.
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https://www.coherentmarketinsights.com/market-insight/portable-battery-pack-market-3929
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Key Trends and Analysis of the Global Portable Battery Pack (Power Banks) Market:
- North America is expected to witness significant growth in the global portable battery pack (power banks) market during the forecast period. This is owing to growing adoption of smartphones and tablets across the region. Furthermore, rising disposable income is expected to boost the regional market growth over the forecast period.
- Europe is expected to register a lucrative growth rate in the global portable battery pack (power banks) market over the forecast period. This is owing to extensive research and development activities in battery production and increasing demand for smart wearable electronic products across the region. Furthermore, increasing internet penetration and growth of the smartphone is expected to accelerate the regional market growth rate over the forecast period.
- Major players operating in the global portable battery pack (power banks) market include Anker Technology Co. Limited, Braven LC, BYD Company Limited, Cheero USA, Inc., Energizer Holdings, Inc., mophie, Inc., Panasonic Corporation., Simplo Technology Co. Ltd., Sony Corporation, Xiaomi.
