A power bank is a portable device that can supply power from its built-in battery through a USB port. Power banks are popular for charging USB charged devices and can be used as a power supply for numerous USB devices such as small fans and lights. Generally, they recharge with a USB power supply. Furthermore, a power bank includes a control circuit that regulates charging of the battery. It also converts battery voltage to 5.0 volts for the USB port. There are different types of portable battery packs including a lithium-ion battery, lithium-polymer, nickel-metal, nickel-cadmium, etc.
The Global Portable Battery Pack (Power Banks) Market was valued for US$ 986.9 Mn in 2021 is expected to exhibit a CAGR of 8.3% during the forecast period.
Recent Developments:
Restraint:
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 986.9 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 8.3% | 2030 Value Projection: | US$ 1985.5 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
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. |
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Global Portable Battery Pack (Power Banks) Market - Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 pandemic has affected the Global portable battery pack (power banks) market significantly. The lockdown was imposed across the globe as a precautionary measure by governments. This led to temporary suspension of all businesses in the electronics sector. Portable Battery Pack (Power Banks) is widely used to charge cell phones, tablets, speakers, and even laptops. They can either be larger with a higher capacity or smaller with the potential to fit in pockets. However, the pandemic caused financial problems for portable battery packs (power banks) and had an impact on their supply chain and R&D. So it had an immediate effect on the sales of portable battery packs (power banks). And hence, during the epidemic, the global portable battery pack (power banks) industry grew slowly.
Asia Pacific held a dominant position in the global Portable Battery Pack (Power Banks) market in 2021
Statistics:
Asia Pacific region dominated the global portable battery pack (power banks) market in 2021, accounting for a 64.7% share in terms of value, followed by Europe, and North America, respectively.
Figure 1: Global Portable Battery Pack (Power Banks) Market Share (%), By Region, 2021
Asia Pacific Portable Battery Pack (Power Banks) Market is expected to witness a CAGR of 8.3% over the forecast period.
Asia Pacific Portable Battery Pack (Power Banks) Market is expected to be one of the prominent region in the global market and witness high growth during the forecast period. This is owing to increasing demand for Portable Battery Pack (Power Banks).
Figure 2: Global Portable Battery Pack (Power Banks) Market (US$ Mn) Analysis and Forecast, 2017 - 2030
The Global Portable Battery Pack (Power Banks) market was valued at US$ 986.9 Mn in 2021 and is expected to reach US$ 1985.5 Mn by 2030, growing at a CAGR of 8.3%% between 2022 and 2030.
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.
A power bank is a portable device that can supply power from its built-in battery through a USB port. Power banks are popular for charging USB charged devices and can be used as a power supply for numerous USB devices such as small fans and lights. Generally, they recharge with a USB power supply. Furthermore, a power bank includes a control circuit that regulates charging of the battery. It also converts battery voltage to 5.0 volts for the USB port. There are different types of portable battery packs including a lithium-ion battery, lithium-polymer, nickel-metal, nickel-cadmium, etc..
The Portable Battery Pack (Power Banks) Market was valued for US$ 986.9 Mn in 2021.
Market Dynamics
The disposable income of consumers in developed, as well as emerging economies, has been on a rise. As a result of this, consumers are shifting towards advanced mobile accessories such as headphones and power banks. According to Coherent Market Insights’ analysis, in 2015, global disposable income increased by 3.1% as compared to 2014. Furthermore, global population is increasing rapidly, especially in emerging regions such as MEA and Asia Pacific. According to the United Nations (UN), global population is expected to increase from 7.2 Bn in 2013 to 9.6 billion by 2050. Thus, these factors are expected to drive growth of the global global Portable Battery Pack (Power Banks) Market during the forecast period. Key market players in the market are focused on establishing robust distribution channels such as multi-brand distributors and retailers of mobile accessories, in order to better cater to customers. Such distribution channels help market players to gain a competitive advantage in the market. Furthermore, online retailing is becoming the most popular distribution channel in emerging markets such as China, Indonesia, Brazil, and Russia. According to Coherent Market Insights’ analysis, in Asia, e-commerce sales have demonstrated a growth of 36% reaching US$ 615 Bn in 2014 as compared to that in 2013. Therefore, these factors are expected to drive growth of the market during the forecast period.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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