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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:

  • Key players are involved in product development, in order to expand the product portfolio. For instance, in October 2021, Anker Technology Co. Limited, an electronics and accessory manufacturer, introduced its new MagSafe compatible accessories. There ought to be a battery pack, a car charger, and 3 desktop chargers in the new product line.
  • Key players are involved in product development, in order to expand the product portfolio. For instance, in June 2020, Xiaomi, a designer and manufacturer of consumer electronics has introduced MI power bank 2I with 10,000mAh.

Restraint:

  • Advent of smartphones with larger battery capacity is expected to hamper the global portable battery pack (power banks) market growth over the forecast period
  • Constant threat of piracy is expected to restrain growth of the global portable battery pack (power banks) market during the forecast period
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Portable Battery Pack (Power Banks) Market Report Coverage

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:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • 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
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.

Growth Drivers:
  • Increasing disposable income and rising global population is expected to drive growth of the global portable battery pack (power banks) market during the forecast period
  • Presence of robust distribution network is expected to propel the global portable battery pack (power banks) market growth over the forecast period
Restraints & Challenges:
  • Advent of smartphones with larger battery capacity is expected to hamper the global portable battery pack (power banks) market growth over the forecast period
  • Constant threat of piracy is expected to restrain growth of the global portable battery pack (power banks) market during the forecast period

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

Portable Battery Pack (Power Banks)  | Coherent Market Insights

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 

Portable Battery Pack (Power Banks)  | Coherent Market Insights         

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:

  • This report provides an in-depth analysis of the Global Portable Battery Pack (Power Banks) Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the Global Portable Battery Pack (Power Banks) Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Portable Battery Pack (Power Banks) Market includes BYD Company Limited, mophie, Inc., Energizer Holdings, Inc., Cheero USA, Inc., Simplo Technology Co. Ltd., Braven LC, Simplo Technology Co. Ltd., Anker Technology Co. Limited, Sony Corporation, Xiaomi, and Panasonic Corporation.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The Global Portable Battery Pack (Power Banks) Market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Portable Battery Pack (Power Banks) Market

Detailed Segmentation

  • Global Portable Battery Pack (Power Banks) Market, By Battery Type:
    • Li-ion (Lithium ion) Battery
    • Li-polymer (Lithium-Polymer) Battery
    • Nickel Metal Hydride Battery
    • Ni-Cd (Nickel Cadmium) Battery
  • Global Portable Battery Pack (Power Banks) Market, 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
    • Above 10,000 mAh
  • Global Portable Battery Pack (Power Banks) Market, By Product Type:
    • Mobile Phones
    • Tablets
    • Others (portable media players and other electronic devices)
  • Global Portable Battery Pack (Power Banks) Market, By Price range:
    • Low
    • Mid
    • High
  • Global Portable Battery Pack (Power Banks) Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Anker Technology Co. Limited*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Braven LC
    • BYD Company Limited
    • Cheero USA, Inc.
    • Energizer Holdings, Inc.
    • mophie, Inc.
    • Panasonic Corporation.
    • Simplo Technology Co. Ltd.
    • Sony Corporation
    • Xiaomi

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global market for Portable Battery Pack (Power Banks) is expected to reach USD 1985.5 Million by 2030.
The market is expected to grow at 8.3% CAGR over the period (2020-2027).
Increasing disposable income and rising global population is expected to drive growth of the market during the forecast period
Low sub-segment holds the largest market share among Price Range Segment segement contributing market share in terms of value in 2021.
Asia Pacific region hold the largest share in the market in 2019, accounting for 64.7% share in terms of value.
Key players operating in the Global Portable Battery Pack (Power Banks) are 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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