Ongoing R&D activities to promote the use of solar and hydrogen cells in power banks are anticipated to boost the market growth. Moreover, upsurge in user base of smartphones, rise in power consumption due high use time of these devices, and decrease in cost of power banks are the major drivers of the market. However, substandard quality of power banks and implementation of alternatives, such as wireless and fast charge for electronic devices hamper the market growth.
Primary Respondents Split
According to the CXOs of leading companies, increasing power consumption of gadgets and plummeting cost of power bank are the key drivers of the market. Prominent market players, such as Sony Corporation, Panasonic Corporation, China BAK Battery Inc., Microsoft Corporation, Oneplus, Beijing Millet Technology Co. Ltd. (Xiaomi), Anker Technology Co. Ltd., and Mophie, Inc. have adopted various growth strategies to expand their market presence and cater to the growing demand for passive optical LAN. Increase in the number of power bank manufacturers is expected to intensify the competition in the power bank market.
Power Bank Market Segmentation
The winning strategies described in the report are based on the analysis of key market players. The strategies of these key leaders have been obtained and analyzed with reference to the recent developments. The data obtained from press releases of companies is limited to publicly available information. The key strategies tracked from the recent developments of the companies in this industry are as follows:
Product launch: Power bank manufacturers have focused on launching technologically advanced power banks with high efficiency and newer features.
Partnership: Leading players have signed supply & sales agreements and partnerships to capture maximum market shares and sustain the intense competition in the market.
Top Investment Pockets
Presently, smartphones and tablets users significantly use of power banks, owing to the increase in energy consumption by these devices. Moreover, the use of these devices has significantly increased in the recent years, due to the availability of internet-based application and games. The applications of power banks in portable media devices has increased in the recent years, owing to increase in user base of laptops, cameras, and others media devices. The implementation of solar and hydrogen cell technology in power banks is expected to make power bank a replenishable source of energy, which in turn is expected to increase its adoption in future.
The other applications of power banks include the use of power banks for powering smart wearable devices and different DC operational devices such as aquarium pumps, modems, routers, and others. As compared to other the power sources, power banks are used for powering devices in regions with limited access to AC power supply. These segments of power banks have comparative lower attractiveness, as various new electronic devices equipped with high battery capacities and high efficiency are being launched in the market. The demand for power bank in smartphone and tablet application has increased rapidly, owing to the use of new technologies and innovations in these applications. Tablets, such as Microsoft Surface, offering flexibility are expected to witness high attractiveness and increase the sale of high capacity power banks in the future.
Rapid economic development and improved standards of living have boosted the growth of digital and electronic devices market. Therefore, the demand for digital and electronic product has increased in the recent years. The digital and electronic devices have limited battery life. Moreover, extensive use of electronic devices, such as smartphones, tablets, and laptops fuel the growth of the power bank market. Increase in user base of electronic devices has stimulated the growth of power bank market, globally. Increase in the number of the applications in smartphones has led to issue of battery draining among customers. Moreover, increase in demand for digital and electronics devices is one of the major drivers of the global power bank market in the future.
The global market industry is analyzed based on four regions, which include North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, and Rest of the Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia Pacific), LAMEA (Latin America, Middle-East, and Africa).
Asia-Pacific Power Bank Market
Increase in the number of smartphones and new product launches of tablets have led to upsurge in the user base of smartphones and tablets. Portable media devices, such as laptops and camera, have a significant user base in several countries in the Asia-Pacific region. Therefore, product launches and advancement in technologies in electronic devices drive the Asia-Pacific power bank market.
China Power Bank Market, 2014-2022
The key players profiled in this report include Sony Corporation, Panasonic Corporation, China BAK Battery, Inc., Microsoft Corporation, Oneplus, Beijing Millet Technology Co. Ltd. (Xiaomi), Samsung SDI Co. Ltd., Anker Technology Co. Ltd., UNU Electronics, and Mophie, Inc.
The other market players (not profiled in report) in the industry are LG Chem Ltd., Advantage Computers (I) Pvt. Ltd., Century New Energy, Elite, Golf & Feihuang, Joway, Radioway, Yoobao, E’allto, and Power Unite.
KEY MARKET BENEFITS
- This report provides an extensive analysis of the current and emerging market trends in the global power bank industry.
- In-depth analysis of the market is based on the market estimations of key segments for the period of 2014‐2022.
- Comprehensive analyses of various geographies are provided in the report to understand the prevailing opportunities in the market.
- This study evaluates the competitive landscape and value chain to understand the competitive scenario across various geographies.
- Comprehensive analysis of factors that drive and restrict the growth of the global power bank industry is provided.
- Exhaustive analysis of the market based on capacity assist in understanding the products that are currently in use as well as those that would gain prominence in the future.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the framework.
POWER BANK MARKET KEY SEGMENT
By Capacity Range
- 500 mAh to 3,499 mAh
- 3,500 mAh to 6,499 mAh
- 6,500 mAh to 9,499 mAh
- 9,500 mAh to 12,499 mAh
- 12,500 mAh to 15,499 mAh
- Above 15,500 mAh
- Portable Media Devices
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East