Factors such as increasing internet-related services through smartphones and tablets, the decline in the price of power banks, frequent electric outages in certain countries, and an increase in power consumption of smartphones are driving the market for power banks.
The lithium-polymer battery segment is expected to grow at a higher rate during the forecast period. These lightweight power banks have an extremely low profile with the flexible form factor and do not suffer from electrolyte leakage, as well as do not wear out; this encourages manufacturers to improve their power bank offerings in terms of weight and safety.
The 10,001–15,000 mAh segment of the power bank market is expected to grow at the highest rate during the forecast period. These are based mostly on lithium-ion batteries. These power banks have high output efficiency and longer battery life, as well as have LEDs or LCDs to indicate battery level. These power banks are in high demand by consumers as they are priced reasonably than power banks with capacities of more than 15,000 mAh. These power banks are large-sized, come with a lot of additional features such as DC output ports used to recharge laptops, USB Type C ports, and Quick charge functionality.
Smartphones segment is expected to lead the market. The extensive use of data and internet services over smartphones is among the main factors that attribute to drain the battery power rapidly. This creates a huge demand for power banks to keep smartphones running for a longer duration. Smartphones are equipped with batteries having a short life, which increases the need for power banks. Thus, this creates a vast potential for power banks in the smartphone application.
APAC expected to dominate power bank market during the forecast period.. Major factors such as increasing adoption of wearables and other consumer electronic products, presence of prominent manufacturers of power banks, and increasing population and economic growth of developing countries are fueling the market growth of power banks in APAC.
Key Market Players include Anker Innovations (China), AUKEY (China), Xiaomi (China), ADATA (Taiwan), RAVPower (US), GRIFFIN (US), Lenovo (China), mophie (US), AMBRANE (India), INTEX (India), among others.
Key Questions Addressed by the Report
· Will suppliers continue to explore new avenues for the power bank market?
· What are the adjacencies that companies can leverage or explore?
· Is there a threat from substitute products?
Where will all the developments take the industry in the mid-to-long term?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Integration of Advanced Technology in Power Banks
3.1.2. Increase in Power Consumption of Smartphones
3.1.3. Decline in Price of Power Banks
3.2.1. Poor Quality of Power Banks
3.2.2. Complex Design Process
3.2.3. Highly Competitive Market
3.2.4. Li-Ion Batteries’ Recycling Cost
3.3.1. Growth in the Adoption of Wearable Devices
3.3.2. Development of Solar and Hydrogen Fuel Cell-Based Power Banks
4. Executive Summary
5. Power Bank Market, By Capacity
5.1. 1000 to 5000 mAh
5.2. 5001 to 10000 mAh
5.3. 10001 to 15000 mAh
5.4. 15001 to 20000 mAh
5.5. Above 20000 mAh
6. Power Bank Market, By Battery Type
6.1. Lithium ion
6.2. Lithium polymer
7. Power Bank Market, By Indicator
7.1. LED lighting
7.2. Digital Display
8. Power Bank Market, By USB Port
8.1. One USB Port
8.2. Two USB Ports
8.3. More than two USD ports
9. Power Bank Market, By Application
9.4. Wearable devices
9.5. Digital camera
9.6. Portable media devices
10. Power Bank Market, By Region
10.2.4. Rest of Europe
10.3.4. South Korea
10.3.5. Rest of APAC
10.4.Rest of the World
10.4.1. South America
10.4.2. Middle East and Africa
11. Company Profiles
11.1.Leading Companies in Power Bank Market
11.1.2. Anker Innovations
11.2.Other Companies in Power Bank Market
*Company introduction, financial information, recent developments, SWOT analysis
12. Conclusion and Recommendations