Power Bank Market

The global Power Bank market was valued at USD 9 Billion in 2020 and is projected to reach USD 16.66 Billion by 2028, growing at a CAGR of 8% from 2021 to 2028.

Power bank is used to provide portable power for charging battery powered devices like mobile phones as well as other similar that have a USB interface. Increasing in internet services in smartphones as well as tablets, the lesser in the price of power bank, increase in power consumption of smartphones, electric outages in certain countries and sudden shift to WFH as well as remote learning because of COVID-19 is resulting in spike in demand for laptops are factors to be considered.

The global Power Bank market is segmented based on products, applications, regions, and countries. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

COVID-19 pandemic led to government of numerous countries across the globe to impose strict lockdown restrictions during the preliminary stages. In 2021, numerous countries faced the adverse effects of the pandemic due to the outbreak of second wave, which also led governments to again impose lockdown measures. Business shutdowns, partial business operations, and travel restrictions have led to challenges in supply chain and in turn production. However, it is expected that reopening of trade activities, the market will witness steady growth in the demand in the coming years. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The companies are innovating their products and focusing on launching power banks with newer technologies, which, in turn, reduce the price for older versions of power banks. The drop in prices would not just increase the consumer base but would also affect the pricing of products provided by competitors. 

The rise in the disposable income is anticipated to augment the growth of the market over the forecast period. 

The low awarness is anticipated to hamper the growth of the market over the forecast period.

Based on region, the global Power Bank market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region led the market with the largest share in 2020. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea.

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Power Bank market are Ambrane India Pvt. Ltd., Lenovo (India) Private Limited, Zebronics India Pvt. Ltd., Portronics Digital Private Limited, SSK Group, Philips India Limited, Intex Technologies (India) Ltd., Best IT World (India) Private Limited, Lapguard, Xiaomi Technology India Private Limited, Sony India Private Limited.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

• Global Power Bank Market is projected to reach USD 16.66 Billion by 2028
• Asia Pacific held the highest share of the Power Bank market
• 10,001–15,000 mAh held the largest share of the product segment in the Power Bank market
• Smartphones held the major share of the application segment in the Power Bank market