Power Bank Global Market Report 2023
Major players in the power bank market are Ambrane India Pvt. Ltd., ADATA Technology Co. Ltd., Anker Innovations Technology Co. Ltd., AsusTeK Computer Inc., Griffin Technology, Intex Technologies India Ltd.
New York, March 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Power Bank Global Market Report 2023" - https://www.reportlinker.com/p06248530/?utm_source=GNW
, Lenovo Group Ltd., Panasonic Corporation, RAVPower, Sony Corporation, Xiamoi Corporation, AUKEY, Dll Inc., Duracell Inc., Easyacc, iWALK Global, Microsoft Corporation, myCharge, Omnicharge, Syska, TP-Link Technologies Co. Ltd., Uimi Technology Pvt. Ltd., OnePlus Technology Co. Ltd., UNU Electronics Inc., and Samsung SDI Co Ltd.
The global power bank market grew from $15.04 billion in 2022 to $16.83 billion in 2023 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The power bank market is expected to grow to $26.9 billion in 2027 at a CAGR of 12.4%.
The power bank market consists of sales of lithium polymer (Li-Polymer) power banks and lithium ion (Li-Ion) power banks.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A power bank is defined as a portable charger that enables a user to charge their smartphones, laptop, tablet, and other media devices with a USB-enabled connection.These power banks can be reused multiple times by simply recharging them.
There are various types of power banks available in the market which include, standard power banks which can be charged using a normal USB port, and solar power banks which use sunlight to charge up and contain photovoltaic panels.
The Asia-Pacific was the largest region in the power bank market in 2022. The regions covered in the power bank report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of batteries used in power banks are lithium ion and lithium polymer.Lithium polymer batteries are rechargeable batteries that use soft a polymer case for resting of the lithium-ion battery inside it.
Lithium polymer power banks are more compact and lightweight than lithium-ion power banks. lithium-ion batteries are rechargeable batteries that use lithium ions for the movement of ions from the negative electrode to the positive electrode component of its electrolyte. These batteries have the capacity of a high voltage and charge storage per unit mass and unit volume. The various price ranges for power banks include low, medium, and high. The power banks are used for charging various gadgets including smartphones, tablets, digital cameras, laptops, and others. The power banks are made available to customers through different sales channels including online and offline.
With the huge rise in urban population, there has been an increase in demand for smartphones and tablets among people across the globe which is generating the higher requirement for power banks to charge these devices.According to a report published by Sify Technologies Limited, an India-based information and communications technology company in April 2021, the world is advancing towards the 5G network and smartphone revenue is predicted to increase by more than 13% in the year 2021.
Moreover, according to Statista, nearly 1.38 billion smartphones were sold worldwide in 2020 and the numbers are expected to reach to 1.5 billion in 2021. Therefore, increasing sales of smartphones are projected to propel revenues for the power bank market over the forecast period.
Wireless power banks are a key emerging trend in the field of power bank market which has a potential for expansion in the future.This will enable people to charge their electronic devices from anywhere with an excellent touchless experience.
These types of power banks provide faster charging and multiple charging options.The user does not have to take the pain of carrying an extra cable and plugging it in.
Many the brands like Samsung, Xiaomi, Ambrane, and other brands have already started investing in manufacturing wireless chargers for different types of smartphones.In March 2020, Xiaomi, the Chinese multinational electronic company, released its first wireless power bank.
That product is Qi certified, with a 2-way fast charging and features 10W fast wireless charging along with an 18W fast charging output port. The wireless power bank will provide ease and convenience to the user.
In March 2021, Xiaomi Group, China-based electronics company acquired ZIMI Corporation for a deal amount of $205 million. Xiaomi stated in its performance announcement that the company acquired a 50.09% stake in ZIMI Corporation. Before this, Xiaomi already owned 49.91% equity in the company. With this transaction, ZIMI Corporation becomes the wholly-owned subsidiary of Xiaomi Group. The deal would enhance the technological competitiveness of Xiaomi Corporation in the 5G market, IoT, and AI sectors. With ZIMI research and development potential, Xiaomi Group would achieve product power standardization, which will help the company to save costs. ZIMI Corporation is a China-based consumer product company engaged in manufacturing smart products such as Internet of Things (IoT) gadgets, mobile accessories, cameras, and speakers among others.
The countries covered in the power bank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The power bank market research report is one of a series of new reports that provides power bank market statistics, including power bank industry global market size, regional shares, competitors with a power bank market share, detailed power bank market segments, market trends and opportunities, and any further data you may need to thrive in the power bank industry. This power bank market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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