Power Market Estimated to Exceed US$ 29.5 Billion Globally By 2024: IMARC Group

Global Power Bank Market Research Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved

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Report Description

Global Power Bank Market Overview: According to the latest report by IMARC Group, titled “ Power Bank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-202 4 �, the global power bank market exceeded a value of more than US$ 9.8 Billion in 2018. A power bank is defined as a portable device used to charge electronics like smartphones and tablets. With the onset of digitalization, the demand for electronic gadgets has gradually increased worldwide. As a result, power banks are progressively being acquired as a common source of battery backup for devices with USB capability. Other factors such as mobility and versatility of power banks have also augmented their demand.

Power Bank Market Trends One of the major forces which has been proactive in maintaining the growth of the market is the availability of low-cost power banks. The escalating sales through various online portals and ecommerce websites are also propelling the market growth. Moreover, setting up a power bank production facility requires less capital investment, which has created a positive outlook for both the existing manufactures and new entrants. Further, as internet usage on smartphones leads to heavy drainage of their inbuilt batteries, the rising internet penetration gas driven the consumption of power banks, especially in emerging countries.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

in Billion US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Apart from this, the introduction of eco-friendly solar and hydrogen fuel-based power banks is expected to catalyze the market growth. Looking forward, the market value is anticipated to reach around US$ 29.5 Billion by 2024, registering a CAGR of more than 20% during 2019-2024.

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Report Description and Highlights

Report Description Key Market Segmentation:

Market Segmentation by Product Type • • •

Portable Power Banks Solar Power Banks Battery Cases

Based on product types, the market has been segmented as portable power banks, solar power banks and battery cases. Amongst these, portable banks account for the largest market share.

Market Segmentation by Battery Types • •

Lithium-Ion Lithium-Polymer

The global power bank marker is bifurcated by battery type into lithium-ion and lithium-polymer batteries. At present, lithium-ion battery holds the dominant share, representing the most popular type.

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Report Description

Market Segmentation by power Rating • • • •

Below 3,000 mAh 3,001 mAh – 8,000 mAh 8,001 mAh – 20,000 mAh Above 20,000 mAh

On the basis of capacity range, batteries with 8001 mAh-20,000 mAh range account for the biggest share. Other categories include 3,001 mAh- 8,000 mAh; up to 3,000 mAh; and above 20,000 mAh. Market Segmentation by Application • • • •

Smartphones Tablets Portable Media Devices Others

Based on application, smartphone are the major application segment of power banks, holding the dominant share. Other major segments include tablets and portable media devices.

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Report Description Market Segmentation by Region • • • • •

Asia Pacific Europe North America Middle East and Africa Latin America

Region-wise, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Currently, Asia pacific is the leading market for power banks across the globe.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• •

Beijing Xiaomi Technology Co., Ltd. Lenovo Group Ltd.

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Report Description • • • • • • • • • •

Microsoft Corp.

Panasonic Corp.

Sony Corp.

Adata Technology Co., Ltd. Asustek Computer Inc. Ambrane India Pvt. Ltd. Anker Technology Co. Ltd. Intex Technologies (India) Ltd. Oneplus Technology (Shenzhen) Co. Ltd. UNU Electronics Inc.

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