Press Release

India Power Bank Market to Witness 16% CAGR until 2023

Growing digitalization, increasing sales of electronic gadgets and surging number of rail and air travelers to fuel India power bank market through 2023

According to TechSci Research report, India Power Bank Market By Type, By Capacity, By USB Ports, By Distribution Channel, Competition Forecast & Opportunities, 2013 - 2023’’, power bank market in India is projected to grow at a CAGR of more than 16% until 2023. Increasing disposable income, surging penetration of smartphones and tablets, growing services & manufacturing sector and rising focus on ‘Make in India’ initiative are among the key factors expected to drive the country’s power bank market over the coming years. As batteries in smartphones drain faster and technological advancements are resulting in lower Lithium-ion battery prices, demand for power banks is expected to grow at a fast pace in India during the forecast period.

Browse 16 market data Tables and 94 Figures spread through 110 Pages and an in-depth TOC on   “India Power Bank Market"

In 2017, Intex Technologies (India) Ltd. and Xiaomi Technology India Private Limited accounted for the largest shares in India power bank market, and both of these companies are likely to maintain their market dominance during the forecast period, on account of their vast product portfolio and high product availability in both Lithium-ion and Lithium Polymer segments. On the basis of type, Lithium-ion segment dominates the power bank market in India, owing to their lesser prices as compared to Lithium Polymer based power banks. Northern and southern regions of the country cumulatively account for the majority share in India power bank market, backed by growing penetration of electronic gadgets, increasing number of manufacturing facilities and rising inflow of tourists in both the regions.

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Online distribution channel is the leading sales platform for power banks in India as it offers a broad range of products, competitive prices as well as wider customer reach.  “As per the Telecom Regulatory Authority of India, smartphone user base in the country is expected to grow from 292 million in 2017 to around 425 million by 2020, backed by rising urban population, increasing modernization and rising number of government initiatives aiding the establishment of manufacturing facilities across the country. These market developments, in addition to growing preference among consumers for power banks while traveling for long hours, are expected to positively influence the power bank market in India over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Power Bank Market By Type, By Capacity, By USB Ports, By Distribution Channel, Competition Forecast & Opportunities, 2013 - 2023” has evaluated the future growth potential of India power bank market and provides statistics and information on market size, structure and trends. 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 India power bank market.

About TechSci Research

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