How Has the Power Bank Market Evolved Historically and What is its Current Size?
The power bank market has seen considerable growth due to a variety of factors.
• The power bank market has seen significant expansion in the recent past. The market value will rise from $18.59 billion in 2024 to $20.56 billion in 2025, experiencing a compound annual growth rate (CAGR) of 10.6%.
The historic growth can be linked to the proliferation of mobile devices and smartphones, the need for portable and backup power sources, the surge in travel and outdoor activities, usage during emergencies and disaster readiness, and implementation of regulatory standards for battery safety.
What is the Forecasted Market Size and CAGR for the Power BankMarket?
The power bank market is expected to maintain its strong growth trajectory in upcoming years.
• The power bank industry is projected to witness substantial expansion in the coming years, culminating in a market value of $33.1 billion by 2029, with a compound annual growth rate (CAGR) of 12.6%.
This growth throughout the forecast period could arise from multiple factors such as the surge in electric scooters and bikes, high-capacity and fast-charging power banks, customized power banks for certain devices, and the broader utilization of solar and wireless power bank technologies. Besides, increased applications in IoT devices and wearables also contribute to this anticipated growth. Key trends for the forecast period include power bank safety regulations, IoT-enabled smart power banks, environmentally friendly power bank solutions, user-specific tailored power banks, transparency in battery procurement and recycling, and incorporating power banks into outdoor adventure equipment.
What Are The Primary Growth Drivers In The Power Bank Market?
The significant surge in urban populations worldwide has consequently led to an escalated demand for technological devices like smartphones and tablets. This heightened use of devices in turn necessitates a greater need for power banks for charging purposes. For example, a report released by the UN Trade and Development, a Switzerland-based intergovernmental organization under the umbrella of the United Nations Secretariat, in December 2023, revealed that over the previous ten years, the speed of urbanization in developing economies, particularly in Asia and Oceania, had increased tremendously. The rate of urbanization rose from 44.0% to 50.6% by 2022. Consequently, this massive growth in urban populations is expected to drive the power bank market's revenues significantly in the future.
What Is The Segmentation Of The Global Power Bank Market?
The power bank market covered in this report is segmented –
1) By Battery Type: Lithium Ion, Lithium Polymer
2) By Price Range: Low, Medium, High
3) By Application: Smart Phone, Tablet, Digital Camera, Laptop, Other Applications
4) By Distribution Channel: Online, Offline
Subsegments:
1) By Lithium Ion: Cylindrical Lithium-Ion Batteries, Prismatic Lithium-Ion Batteries, Lithium-Ion Battery Packs
2) By Lithium Polymer: Lithium Polymer Battery Packs, Flexible Lithium Polymer Batteries, Lithium Polymer Battery Cells
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What Emerging Trends Are Shaping The Power Bank Market Landscape?
One emerging trend in the power bank market with significant growth prospects is wireless power banks. These devices offer the capability to charge electronic devices from any location, providing a remarkable contactless experience. They offer more rapid charging and diverse charging capabilities, alleviating the necessity for users to carry an additional cable and connect it. A range of brands, including Samsung, Xiaomi, Ambrane, amongst others, have initiated the process of producing wireless chargers for various smartphone models. In October 2022, Stuffcool, an India-based firm offering high-grade accessories for smartphones, tablets, and laptops, introduced its new 15W wireless charging Powerbank with a 20W PD wired output, which is Made in India. The latest Stuffcool wireless Powerbank incorporates a lightweight and sleek design, an LED indicator to display battery life while charging or discharging, and includes a micro USB port and a USB Type-C charging port.
Who Are the Key Players in the Power Bank Market?
Major companies operating in the power bank market include:
• Ambrane India Pvt. Ltd.
• ADATA Technology Co. Ltd.
• Anker Innovations Technology Co. Ltd.
• AsusTeK Computer Inc.
• Griffin Technologies Inc.
• Intex Technologies india Ltd.
• Lenovo Group Ltd.
• Panasonic Corporation.
• Rav Power And Infra (India) Private Limited
• Sony Corporation.
• Xiamoi Corporation.
• Aukey Technology Co. Ltd.
• Dell Technologies Inc.
• Duracell Inc.
• Changsha Meng Tuo Electronic Commerce Co. Ltd.
• iWALK Global Co Ltd.
• Microsoft Corporation
• myCharge
• OmniCharge Inc.
• Syska led lights Pvt Ltd.
• TP-Link Technologies Co. Ltd.
• Uimi Technology Pvt. Ltd.
• OnePlus Technology Co. Ltd.
• UNU Electronics Inc.
• Samsung SDI Co Ltd.
• Belkin International Inc.
• Zendure Deutschland.
• Jackery Inc.
• Shenzhen Value in Action Technology Co.Ltd.
• Poweradd
• Tylt Inc.
• ROMOSS Technology Co. Ltd
• Maxell Holdings Ltd.
• GP Batteries International Limited
• Toshiba Corporation.
• Huawei Technologies Co. Ltd.
• ZTE Corporation
• LG Electronics Inc.
• HP Inc.
• Acer Inc.
What are the Regional Insights into the Power Bank Market?
Asia-Pacific was the largest region in the power bank market in 2024. The regions covered in the power bank market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
