Power Banks Market is expected to grow at a CAGR of 8.96% through 2030F
Power Banks market is increasing due to
the rising demand for portable charging solutions driven by the growing use of
mobile devices and electronics during forecast period 2026-2030F
According to TechSci Research
report, “Power Banks Market
- Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2030F, The Global Power Banks Market was
valued at USD 13.49 Billion in 2024 and is expected to reach USD 22.78 Billion by
2030 with a CAGR of 8.96% through 2030.
The increasing adoption of electric vehicles is another crucial driver
for the Power Banks market, particularly in relation to the development of Power
Banks for use in electric vehicle charging. As the global shift toward
sustainability and clean energy intensifies, electric vehicles are gaining
popularity as a greener alternative to traditional gasoline-powered cars.
However, as electric vehicle usage grows, so does the need for efficient and
convenient charging solutions.
Power Banks specifically designed for electric vehicles are emerging,
which can be used as emergency charging devices or as auxiliary power sources
during travel. These Power Banks allow electric vehicle owners to charge their
vehicles when they are far from conventional charging stations or when charging
infrastructure is limited. As electric vehicle infrastructure expands and more
consumers opt for electric vehicles, the demand for vehicle-to-vehicle charging
solutions and portable charging stations is expected to rise. Power Banks, in
the form of high-capacity chargers, are positioned to meet this growing demand,
especially in regions where electric vehicle charging stations are still being
developed.
The price sensitivity of
consumers also exacerbates the issue of competition. While many consumers are
looking for Power Banks with high performance, they also seek affordable
prices. This has led to a race to the bottom in terms of pricing, where
manufacturers continually lower prices to remain competitive. However, cutting
prices can reduce profit margins, leading to challenges in sustaining business
operations. Some companies may compromise on product quality or skip necessary
safety measures to reduce costs, which can negatively impact the overall market
and tarnish consumer trust in Power Banks products.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Power Banks Market"
Based on End User, the individual
segment dominated the global Power Banks market and is expected to maintain its
dominance throughout the forecast period. This segment's growth is primarily
driven by the increasing reliance on mobile devices, such as smartphones,
tablets, and laptops, among consumers. With the growing demand for constant
connectivity and the rise in the number of digital services that people engage
with on a daily basis, individuals require portable charging solutions to
ensure their devices stay powered throughout the day. The expanding usage of
power-hungry applications, including social media, video streaming, gaming, and
navigation, further escalates the need for convenient and reliable charging
options. Additionally, the growing trend of travel and outdoor activities,
where access to electrical outlets is limited, continues to increase the demand
for Power Banks. As mobile technology advances, consumers are also investing
in high-capacity Power Banks that can charge multiple devices simultaneously,
fueling the segment's growth. Furthermore, the increasing adoption of
smartwatches, wireless earbuds, and other portable devices contributes to a
higher demand for Power Banks, as individuals need portable chargers to keep
all of their devices functional. The commercial segment, while important, is
growing at a slower pace compared to the individual segment. Businesses and
organizations primarily use Power Banks for corporate gifting, events, or
customer convenience, but the scale of demand in this segment is not as
significant as that of individual consumers. Given these factors, the
individual segment's dominance is expected to continue in the coming years, with
further growth driven by the global proliferation of mobile devices and the
ongoing need for portable power solutions..
North America is the fastest-growing region for the
global Power Banks market, driven by several key factors. The region's high
adoption rate of smartphones, tablets, and other portable electronic devices is
a primary contributor to the increased demand for Power Banks. As mobile
technology continues to advance, North American consumers are increasingly
reliant on their devices for a wide array of functions, such as communication,
entertainment, work, and navigation. This growing dependence on portable
electronics has resulted in a higher need for backup power sources to ensure
that devices remain operational throughout the day, even when access to
charging points is limited.
The region's high disposable income allows consumers
to purchase higher-end, high-capacity Power Banks that offer faster charging
and more advanced features. Moreover, the growing trend of wireless charging
and the demand for eco-friendly solutions have prompted companies in North
America to innovate and introduce more sustainable, efficient Power Banks
models. This innovation is further accelerating the market's growth. As
technology continues to evolve and the need for mobile devices grows, North
America is expected to maintain its position as the fastest-growing region in
the global Power Banks market.
Key market players in the Power Banks
Market are: -
- Anker Innovations Technology Co., Ltd
- Xiaomi Communications Co., Ltd
- Guangdong SACA precision manufacturing Co.,Ltd
- AUKEY Official
- ZENDURE USA INC.
- ZAGG Inc
- Samsung Electronics Co., Ltd.
- ROMOSS Technology Co., Ltd
- Poweroad Renewable Energy Co., Ltd
- Maxell, Ltd
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“The Power Banks market is expected to
grow significantly in the future, driven by the increasing reliance on portable
electronic devices such as smartphones, laptops, and wearables. Advancements in
battery technology, such as faster charging capabilities and higher energy
densities, will further fuel demand. As consumers seek more convenience and
mobility, the market will see a rise in the adoption of Power Banks with
larger capacities and multi-device charging features. Additionally, the growing
trend of eco-consciousness will encourage the development of sustainable,
environmentally friendly Power Banks options. With expanding applications and
consumer needs, the market is poised for continued growth.” said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based global
management consulting firm.
“Power Banks Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By
Capacity (Below 5000 mAh, 5000 mAh - 10000 mAh, 10000 mAh - 20000 mAh, Above
20000 mAh), By Battery Type (Lithium-ion, Lithium-polymer, Nickel Metal Hydride),
By Application (Smartphones and Tablets, Laptops,
Portable Devices, Gaming Consoles, Others), By End-user (Individual, Commercial), By Region, By Competition”
has evaluated the future growth potential of Power Banks
Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Power Banks Market.
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