New York, NY, Aug. 28, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Power Bank Market By Product (Solar Power Banks, Portable Power Banks, and Others), By Price Range (Low Range, Medium Range, and Premium Range), By Power Rating (Up to 3000 mAh, 3,001 to 8,000 mAh, 8,001 to 20,000 mAh, and Above 20,000 mAh), and By Application (Tablets, Portable Media Devices, Smartphones, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”.
According to the report, the global power bank market was USD 8,847 million in 2018 and is expected to reach approximately USD 14,022 million by 2025, growing at a CAGR of slightly above 6.8% between 2019 and 2025.
Combination of portable batteries in a circuit that efficiently controls the power flow is called a power bank. Power banks are diversely used for charging electronic devices in the absence of power supply and are highly preferred for charging almost any USB-charged devices like tablets or smartphones.
Browse through 71 Tables & 32 Figures spread over 215 Pages and in-depth TOC on “Global Power Bank Market Size & Share 2018: By Type, Prices, Industry Trends, Growth, Analysis and Forecast to 2025”.
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The rising internet penetration rate has simultaneously increased data consumption by smartphones and energy consumption due to extensive internet use drains the battery at high rates. Worldwide increasing use of smartphones is mainly propelling the power bank market. Moreover, leading power bank manufacturers are opting for hydrogen- and solar cell-based technologies, which is also attracting consumers to the global power bank market. However, continuous technological upgradations of the battery capacities of various smartphones have increased due to the integration of highly efficient chipset, which may hamper the power bank market to some extent.
The report covers a forecast and an analysis of the power bank market on a global and regional level. The study provides historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints of the power bank market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the power bank market on a global level.
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This report includes a detailed competitive scenario and product portfolio of the key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces Model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market trends, growth rate, and general attractiveness.
The global power bank market is fragmented on the basis of product, price range, power rating, and application. The product segment includes portable power banks, solar power banks, and others. The demand for solar power banks is forecasted to witness notable growth in the upcoming years, owing to the rising adoption of solar banks as they are powered by sunlight and do not require any electric sockets. Portable power banks held a substantial market share in 2018, due to their extensive user-friendly features and compact size. Furthermore, these devices charge nearly all types of USD devices. The price range segment of the power bank market includes premium range, medium range, and low range. The medium range segment is projected to account for a notable market globally in the years ahead. The rising expenditure on lifestyle amenities in developed regions is fuelling the premium price range. Based on power rating, the market is categorized into above 20,000 mAh, 8,001 to 20,000 mAh 3,001 to 8,000 mAh, and Up to 3000 mAh. The use of power banks of up to 3000 mAh is increasing in the developing Asian economies recently. The application segment of the market is divided into tablets, portable media devices, smartphones, and others.
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Power Bank Market: Worldwide Regional Analysis
North America is the most technologically advanced region globally and will hold a noteworthy share in the global power bank market over the upcoming years. This share is due to the growing power banks demand in the U.S. and the presence of various market players like Samsung Electronics, Lenovo, and Panasonic in the region. Furthermore, these players are focusing on investing in solar power banks by utilizing technology developed by small- and mid-level companies across the region.
The increasing use of tablets in Europe is fueling the region’s power bank market. The UK, Germany, and France are the key countries for the market players in this region. Till 2015, the total number of tablet users in Western Europe was 160 million and this number is anticipated to rise exponentially over the upcoming years. This, in turn, will lead to the further growth of the power bank market in Europe.
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The Asia Pacific power bank market will witness significant growth in the years ahead. India and China are anticipated to make notable contributions to this regional market’s growth, due to the growing number of smartphone users. In 2017, smartphones sales in the Asia Pacific generated around USD 244 billion in comparison to USD 233 billion in 2016. Furthermore, with the presence of major market players like Hitachi, Xiaomi, Sony, and Panasonic, the region’s power bank market will experience notable growth in the future.
Latin America is projected to make vital contributions to the power bank market globally over the forecast timespan, owing to the increasing regional demand for portable power banks. Brazil and Argentina are anticipated to be the most lucrative countries for market players in this region, owing to the initiatives taken by the respective governments.
Browse the full “Power Bank Market By Product (Solar Power Banks, Portable Power Banks, and Others), By Price Range (Low Range, Medium Range, and Premium Range), By Power Rating (Up to 3000 mAh, 3,001 to 8,000 mAh, 8,001 to 20,000 mAh, and Above 20,000 mAh), and By Application (Tablets, Portable Media Devices, Smartphones, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/power-bank-market
Global Top Market Players in Power Bank Industry
Some key participants operating in the global power bank market are Samsung Electronics, Beijing Xiaomi Technology, Sony Corporation, Panasonic, Limefuel, Anker Technology, EassyAcc.com, Apacer Technologies, Lenovo Group, GP Batteries, Intex Technologies, Microsoft, Hitachi, Xiaomi Technology, Ambrane India, Xtorm, Maxell, and ASUSTeK Computer.
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This report segments the global power bank market into:
Power Bank Market: Product Analysis
- Solar Power Banks
- Portable Power Banks
- Others
Power Bank Market: Price Range Analysis
- Low Range
- Medium Range
- Premium Range
Power Bank Market: Power Rating Analysis
- Up to 3000 mAh
- 3,001 to 8,000 mAh
- 8,001 to 20,000 mAh
- Above 20,000 mAh
Power Bank Market: Application Analysis
- Tablets
- Portable Media Devices
- Smartphones
- Others
Power Bank Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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