Portable Charger Market Research, 2031
The global portable charger market size was valued at $6.8 billion in 2021, and projected to reach $17.3 billion by 2031, with a CAGR of 9.8% from 2022 to 2031. Portable charger is a kind of portable battery, which is equipped with circuit to store energy from the input source and venting it out as and when required. These gadgets have currently gained immense popularity across the world, owing to upsurge in adoption of digital products. Moreover, their distinct characteristics, which include durability, portability, multiple sockets, fast charging, and low range cost fuel their need among tech-savvy consumers. In case of a prolonged power outage or an unstable electricity supply, portable chargers serves as an ideal option, preventing the device from turning off. Mobile phones, digital cameras, tablets, and laptops are some of the gadgets that can be powered by solar power banks.
Power banks are portable chargers, which are equipped with a circuit to control power flow range. Rapid demand for compact electronic devices equipped with rechargeable batteries such as smartphones, tablets, and laptops has boosted the growth of the global portable charger market.
In addition, the advent of 4G networks and consistent use of internet services have made these devices less efficient in terms of power consumption. This has created a huge demand for power banks across the world, thereby propelling the portable charger market growth.
The portable charger market is segmented on the basis of by type, application, sales channel and region. On the basis of type, the global portable charger market is segmented into single solar plate, LED light, and voltage adjustable. On the basis of application, it is bifurcated into mobile phones, digital cameras, MP3 & MP4 devices, automotive, laptop, and others. In addition, on the basis of sales channel, the market is segmented into online (company website, third party online channel) and offline (hypermarket/supermarket, specialty stores, and others).
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.
The major companies profiled in this report include Anker Innovations, Sony Europe B.V., Accutronics Ltd., Rizk National Industries LLC, Chengdu Khons Technology Co. Ltd., Omnicharge Inc., Platinet, Samsung SCI Co. Ltd., Lzen Electronics, ARD Accessories Pvt. Ltd., Belkin International Inc., Microsoft Corporation, Voltaic Systems, Xiaomi Technology, Sony Corporation, Panasonic Corporation, and GP Batteries International. Anker Innovations and Omnicharge Inc., are two key innovator companies in the above mentioned key market players. Rapid industrialization, modernization, and spread of information through internet have led to the development of electronic appliance industry, which in-turn, has fuelled the demand for portable charger. In addition, growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the solar energy application have led to attain key developments in the global portable charger market trends.
Portable Charger Market, By Region
Asia-Pacific region dominates the portable charger market and consists of countries such as China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific. India and China are major players in this region majorly due to huge population and due to their increased utilization of the electronic appliances have increased the demand for the portable charger. The presence of developing countries in this region and the need for technological renovation in these countries has led to increase in the demand for portable charger.
By Region
Asia-Pacific holds a dominant position in 2021
Asia-Pacific, made up of many developing and under-developed countries, is also the most populated region across the globe. It is home to a significant number of megacities and with the ever-increasing population. It is expected to have largest urban population by 2050. The increase in awareness among the people regarding health care, the usage and advantages of portable medical equipment during the pandemic outbreak have created positive impact on the growth of the market. The above mentioned initiatives are major factor driving the growth of the market in this region during the forecast period.
Portable Charger Market, By Type
The LED light segment dominates the global portable charger market. LED stands for light emitting diode, this segment generate more than 31% of total revenue of the portable charger market in 2021. LED lighting products produce light up to 90% more efficiently than incandescent light bulbs. LED light industry was valued at $ 75.81 billion in 2020. Lighting accounts for nearly 10% of electricity consumption in households and 40% for commercial premises. Countries around the world are widely adopting LED lighting. For instance, New York planned to replace 250,000 streetlights with LEDs, which was to be followed by the replacement of decorative lights in the urban areas. Led lights types of portable charger are showing a decline in market growth mostly due to increase in the demand for single solar plate type portable charger. The presence of above mentioned factors will provide ample opportunities for the development of the market.
By Type
Single Solar Plate segment is projected to create abundant $ opportunity till 2031
Portable Charger Market, By Application
The mobile phones segment dominates the global portable charger market. Smartphones have been steadily developing and growing both in terms of models and smartphone industry share. Smartphone is a portable device that combines mobile telephone and computing functions in one unit. The presence of limited battery capacity and huge information processing capacity leads to the demand for the portable charger.
By Application
Mobile Phones segment is projected to create abundant $ opportunity till 2031
Increasing disposable income, development of telecom infrastructure, the emergence of budget-centric smartphone, and an increasing number of product launches are contributing the growth of the smartphone industry. The presence of development in smartphone industry has positive impact on the portable charger market. The presence of above mentioned advantages will drive the growth of the market.
Portable Charger Market, By Sales Channel
The offline sales channel segment dominates the global portable charger market. Offline sales channel is the method of opening a single store based in the name, branding, trademark, and products of an existing business. The increase in the commercial activities and the need for leisure activities among the people has led to the demand for offline stores. Offline stores will provide sample and can help the costumer to provide details regarding the product through the service provider. In this type of sales channel the customer can choose from a wide variety of products in one shop and do not have to visit numerous shops of different brands. This will provide ample opportunities for the development of the market. In this offline segment, hypermarket & supermarket sub-segment is highest revenue generator in 2021. A supermarket/hypermarket provides the ease of purchase to its customers. It offers different types of portable charges such as single solar plate, voltage adjustable portable charger of various brands with unique features in each brand product. This will provide ample opportunities for the development of the market.
By Sales Channel
Offline segment is projected to create abundant $ opportunity till 2031
COVID-19 analysis:
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries which has limited the growth of the market.
COVID-19 is having a large impact on both consumer and the economy. Electronics manufacturing hubs have been temporarily shut down to limit the COVID-19 spread among the individuals. This has majorly affected the supply chain of semiconductor market by creating shortages of materials, components, and finished goods. Lack of business continuity has ensured significant negative impacts on revenue, shareholder returns, and revenue, which are expected to create financial disruptions in the compound semiconductor industry. Portable chargers have become a trend for battery development. Even during the COVID-19 lockdown, demand for portable chargers has risen particularly in Europe.
After the global vaccination the government of various countries has taken initiatives to increase the investment in the renewable energy related industries especially solar. The increase in the awareness among the costumers regarding the advantages of portable charger in the daily life has positive impact on the development of the market. The presence of above mentioned activities and change in policies due to outbreak of pandemic have positive impact on the development of the market in the forecast period.
Key benefits for stakeholders
- This report provides a detailed quantitative analysis of the current portable charger market trends and estimations from 2021 to 2031, which assists to identify the prevailing opportunities.
- An in-depth analysis of portable charger market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global portable charger market is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2022 to 2031 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global portable charger market.
Portable Charger Market Report Highlights
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Analyst Review
The global portable charger market is expected to witness increased demand during the forecast period, due to surge in the utilization of the portable electronic devices across the globe in various sectors.
The portable charger market is highly competitive, owing to strong presence of the existing vendors. Portable charger technology vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the global market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by the key vendors.
The portable charger market possesses high growth potential in the wearable electronics industry. The current business scenario has witnessed an increase in the demand for smart wearable devices, particularly in the developing regions such as China and India due to upsurge in population and rise in demand for consumer electronics. Companies in this industry have adopted various innovative techniques such as mergers and acquisition, to strengthen their business position in the competitive matrix.
The portable charger market has steadily gained traction owing to the presence of limited battery capacity in the electronic appliances. In addition, portable chargers offer features such as protective circuitry, which ensures safety of the electronic gadget and are available in various shapes and sizes, which make them suitable for smartphones and other electronic peripherals.
Among the analyzed regions, North America exhibits the second highest adoption of portable chargers, and has been witnessing significant expansion of the market. On the other hand, Asia-Pacific is expected to grow at a faster pace due to increase in demand for smartphones and consumer electronics in countries such as China and India.
The portable charger market provides numerous growth opportunities to the market players such as Samsung Electronics, Sony Corporation, Anker, Panasonic Corporation, and others.
Rising demand for digital devices and increasing processing power of the smart electronic devices are the key factors boosting the portable charger market growth
Mobile phones application is projected to increase the demand for portable charger
Anker Innovations, Sony Europe B.V., Accutronics Ltd., Rizk National Industries LLC, Chengdu Khons Technology Co. Ltd., Omnicharge Inc., Platinet, Samsung SCI Co. Ltd., Lzen Electronics, ARD Accessories Pvt. Ltd., Belkin International Inc., Microsoft Corporation, Voltaic Systems, Xiaomi Technology, Sony Corporation, Panasonic Corporation, and GP Batteries International. Anker Innovations and Omnicharge Inc.
Market value of portable charger in 2030 is expected to US$ 17.3 billion
The portable charger market is segmented on the basis of by type, application, sales channel, and region. On the basis of type, the global portable charger market is segmented into single solar plate, LED light, and voltage adjustable. On the basis of application, it is fragmented into mobile phones, digital cameras, MP3 & MP4 devices, automotive, laptop, and others. In addition, on the basis of sales channel, the market is segmented into online (company website, third party online channel) and offline (hypermarket/supermarket, specialty stores, and others). Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Innovative advancements in convenient chargers is the main driver of portable charger market
Manufacturing industries are halted production, restrictions over travelling, the education system is shutdown, public places are closed down; and many more such initiatives were taken to prevent the spread of the pandemic. The portable charger market is negatively impacted due to the spread of pandemic. However, the market has gained momentum through investments are post lockdowns.
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