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Rise in demand for easy and convenient charging options has helped global manufacturers to innovate with the product and to make lightweight and high charging capacity power banks. The development of smart devices has helped in driving demand for power banks. Innovations by manufacturers have also led to increased demand for the product. However, smartphones having high capacity batteries and efficient chipset in the device is the restraint which can affect the demand for power banks.
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Based on product type, portable power banks dominated the market in 2018 and were valued at US$ 4,152.4 Mn at a CAGR of 6.4%. The dominance of this segment was due to easy to carry power source coupled with wide availability. In terms of power rating, the 5,000 mAh – 12,000 mAh segment dominated the market in 2018 due to more consumer acceptance at an affordable price. Based on battery type, lithium ion battery dominated the market in 2018 due to its durability and easy availability. By port type, power banks having type C charging port has the highest market share due to wide popularity of Type C charger among manufacturers as well as consumers. Based on application, the smartphone segment dominated the market due to growing demand for smartphones worldwide. Electric source of charging dominated the market in 2018 due to the more convenient option for charging power banks and easy accessibility to electricity as compared to other segments. By distribution channel, the offline segment dominated the market due to preference of customers to check and compare the products physically. By region, the market in Asia Pacific is forecasted to expand at a high growth rate due to focus on more cost effective solutions. Consumers in China, India, and Thailand prefer buying low cost power banks.
Prominent players in the power bankmarket include GP Batteries International Ltd, EasyAcc.com, Inc., Maxell Holdings, Ltd., Anker Technology Co. Limited, Braven LC – INCIPIO Technologies, Inc., IEC Technology, LLC, Apacer Technologies, Inc., Panasonic Corporation, Mophie, Inc, RavPower, MiPow Limited, Samsung Electronics Co., Ltd., Goal Zero Corporation, Sony Corporation, and Xtorm.
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The power bank market is segmented as below.
Power Bank Market
By Product Type
- Portable Power Banks
- Phone Charging Cases
- Solar Power Banks
By Capacity
- Up to 5,000 mAh
- 5,001 mAh – 12,000 mAh
- 12,001 mAh – 20,000 mAh
- Above 20,000 mAh
By Battery Type
- Lithium Ion
- Lithium Polymer
By Port Type
- Standard
- Type C
- DC Power Jack
By Application
- Smartphone
- Tablet/Laptops
- PCs
- Camera
- Others
By Charging Source
- Electric
- Solar
- Hybrid
By Distribution Channel
- Online Distribution Channel
- Offline Distribution Channel
- Supermarkets & Hypermarkets
- Exclusive Stores
- Multiband Retail Stores
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
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