New York, United States , June 17, 2024 (GLOBE NEWSWIRE) -- The Global Mobile Power Bank Market Size is to Grow from USD 21.12 Billion in 2023 to USD 32.50 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.4% during the projected period.
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Smartphones have become an essential part of our daily lives, and they are equipped with powerful operating systems such as Android, Symbian, and iOS, which allow users to play games, run multimedia players, access video calling, and stay connected to the outside world via high-speed internet services, all of which consume a lot of battery power. Mobile power banks are portable battery charging devices that allow users to charge their mobile devices from anywhere and at any time. It is a medium-sized electronic device that contains a special battery and electronic circuits for controlling the power flow range. The growing global adoption of smartphones is a major driver of the mobile power bank market. Smartphones have become ubiquitous, with capabilities that extend far beyond basic communication. As smartphones become more common in our daily lives, the demand for dependable and convenient power sources has increased, making mobile power banks an indispensable accessory. Smartphone adoption has skyrocketed across all demographics, from urban centers to rural areas. Several key factors contribute to this spread. However, Intense price competition in the mobile power bank market can reduce manufacturers' profit margins. To offer competitive prices, businesses may need to cut costs, use lower-quality components, or engage in price wars, all of which can stymie market growth.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Mobile Power Bank Market Size, Share, and COVID-19 Impact Analysis, By Capacity (1000-2500mAh, 2600-5000mAh, 5000-10000mAh, 10,000mAh -15000mAh, Others), By Battery Type (Li-polymer, Li-ion), By Power Bank Type (Portable, USB Plugin, Solar Charger), Number of Ports (Single, Multiple, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The 10000mAh -15000mAh segment is expected to hold the largest share of the global mobile power bank market during the forecast period.
Based on the capacity, the global mobile power bank market is categorized into 1000-2500mAh, 2600-5000mAh, 5000-10000mAh, 10000mAh-15000mAh, and others. Among these, the 10000mAh -15000mAh segment is expected to hold the largest share of the global mobile power bank market during the forecast period. These power banks have high output efficiency and a long lifespan. Thus, extensive use of data and internet services through smartphones is one of the primary factors contributing to the mobile power bank market revenue.
The Li-ion segment is expected to hold a significant share of the global mobile power bank market during the forecast period.
Based on the battery type, the global mobile power bank market is categorized into Li-polymer, and Li-ion. Among these, the Li-ion segment is expected to hold the largest share of the global mobile power bank market during the forecast period. Lithium-ion batteries offer numerous benefits, including low self-discharge, high energy density, and low maintenance. However, lithium-ion batteries are expensive to produce due to their high costs and complex preparation processes.
The solar charger segment is expected to grow at a substantial CAGR growth of the global mobile power bank market during the forecast period.
Based on the power bank type, the global mobile power bank market is categorized into portable, USB plugin, and solar charger. Among these, the solar charger segment is expected to grow at a substantial CAGR growth of the global mobile power bank market during the forecast period. Solar energy is gaining popularity as an environmentally friendly alternative because it has the added benefit of being able to recharge without the need for electricity, which, in addition to being energy-efficient, is especially useful when traveling.
The multiple port segment is expected to grow at a substantial CAGR growth of the global mobile power bank market during the forecast period.
Based on the number of ports, the global mobile power bank market is categorized into single port, multiple port, and others. Among these, the multiple port segment is expected to grow at a substantial CAGR growth of the global mobile power bank market during the forecast period. These power banks are large and have a number of extra features, such as DC output ports for charging laptops, USB Type C ports, and quick charge capability.
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Asia Pacific is anticipated to hold the largest share of the global mobile power bank market over the predicted timeframe.
Asia Pacific is projected to hold the largest share of the global mobile power bank market over the forecast period. The Asia-Pacific power bank market is expanding due to the increased use of consumer electronic devices, particularly smartphones and tablets, increased power consumption as a result of technological advancements, and power outages. Power bank adoption in Asia-Pacific is expected to rise due to rising disposable income, urban population growth, and increased smartphone and tablet penetration in rural areas. The Asia Pacific power bank market is expanding due to an increase in electronic device usage. The North American market is expected to grow at the fastest CAGR during the forecast period, owing to the third largest number of PDA clients. According to GSMA Intelligence, more than 80% of the population in North America owns technology-based smartphones, which is much larger than other regions and is expected to grow to around 91% over the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global mobile power bank market are Beijing Xiaomi Technology Co. Ltd., Lenovo Group Ltd, Microsoft Corporation, Panasonic Corporation, Sony Corporation, Adata Technology Co. Ltd., Asustek Computer Inc., Ambrane India Pvt. Ltd., Anker Technology Co. Ltd., Intex Technologies (India) Ltd., OnePlus Technology (Shenzhen) Co. Ltd., UNU Electronics Inc., Samsung SDI Co. Ltd., and among others.
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Recent Developments
- In January 2023, Ambrane, a consumer electronics brand, has announced the launch of the Stylo Boost Power Bank, which has a 40000mAH battery capacity, a 60W ultrafast charging capacity, and the ability to charge smartphones and laptops.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2033. Spherical Insights has segmented the global mobile power bank market based on the below-mentioned segments:
Global Mobile Power Bank Market, By Capacity
- 1000-2500mAh
- 2600-5000mAh
- 5000-10000mAh
- 10000mAh -15000mAh
- Others
Global Mobile Power Bank Market, By Battery Type
- Li-polymer
- Li-ion
Global Mobile Power Bank Market, By Power Bank Type
- Portable
- USB Plugin
- Solar Charger
Global Mobile Power Bank Market, By Number of Ports
- Single
- Multiple
- Others
Global Mobile Power Bank Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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