Power Bank Market Share, Demand, Top Players, Industry Size, Future Growth By 2029
The global power bank market size is anticipated to showcase growth in the foreseeable future due to the increased consumption of chargeable electric products. This information is published by Fortune Business Insights in its report, titled "Power Bank Market, 2022-2029". The product is widely used for power storage to charge several electronics. The increased consumption of electronics in commuting especially by working professionals is anticipated to propel the market in the foreseeable future. In addition to this, the various features equipped in the product such as flashlights, quick charging, multiple charging ports, and others fuel the product sales.
COVID-19 Impact
Multiple Disruption in Production to Decline Sales Amid Pandemic
The coronavirus outbreak has resulted in a sharp decline in the business of power banks. The constant disruption of supply chain due to lockdown restrictions resulted in declined manufacturing and sales volume. The uplift of lockdown norms in several regions is expected to restart the operation of production facilities across these regions for manufacturing the product. After the situation normalizes, the product is expected to showcase substantial growth due to the increased consumption of electronic products.
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Fortune Business Insights™ lists out all the power bank market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Lenovo Group Ltd.
- Microsoft Corporation
- Sony Corporation
- Intex Technologies
- Ambrane India Pvt. Ltd.
- Xiaomi Technology Co. Ltd.
- Anker technologies
- Panasonic Corporation
- ASUSTeck Computer
- GP Batteries
What Does the Report Contain?
The report offers an insight into the profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players, are included in the research conducted by market experts.
Drivers & Restraints
Increasing Consumption of Chargeable Electronic to Spur Growth
The increasing demand for electronic devices such as smartphones, tablets, digital watches, headphones, earphones, notepads, and much more is fueling the requirement of energy storing devices. For example, the Global System for Mobile Communications (GSMA) Association projects that the number of unique subscribers is anticipated to be around 5.9 billion by 2025. Moreover, the product sales under a single brand enhance the revenue generation of both the product and associated devices sold by the brand. Such strategy is utilized by prominent companies such as Sony Corporation, Samsung Electronics, and Xiaomi Corporation which is driving the power bank market growth.
The various innovations in the product such as USB port feature, multiple ports for energy consumption, flashlights, and a wide range of storage capacity are increasing product popularity worldwide.
Market Segmentation
By battery type, the market is bifurcated into Lithium-ion and Lithium-polymer. On the basis of power ratings, the market is segmented into up to 3000 mAh, between 3000 to 8000 mAh, between 8000 to 20000 mAh, and above 20000 mAh. By end user, the market is bifurcated into consumer power banks and industrial power banks. In addition to this, the distribution channel classifies the market into online and offline. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Regional Insights
Presence of Prominent Manufacturers in Asia Pacific to Surge Product Demand
Asia-pacific is anticipated to lead the power bank market share in the forthcoming years. This is due to the presence of prominent manufacturers in the region and developing countries such as India and China. For example, as per the Indian Brand Equity Foundation, the Indian electronics industry is anticipated to showcase growth at the rate of 41 % by 2020 and reach a landmark of USD 400 billion.
North America is anticipated to hold a substantial market share in the upcoming years. This is because of the high adoption of smartphones in the region. Moreover, as per data by GSMA Intelligence, 80% of the regional population have technology-based smartphones and is expected to grow up to 91% by 2025.
The Global Power Bank Market Research/Analysis Report Contains Answers to your following Questions:
- Which Manufacturing Technology is used for Power Bank ? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Power Bank Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Power Bank Market? What Was Capacity, Production Value, Cost and PROFIT of Power Bank Market?
- What Is Current Market Status of Power Bank Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Power Bank Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Power Bank Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Power Bank Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Power Bank Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Power Bank Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Power Bank Industry?
Highlights of the Report:
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Market Penetration: Comprehensive information on the product portfolios of the top players in the Supply Chain Analytics market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Supply Chain Analytics market
Competitive Landscape
Prominent Players Focus on Product Innovation to Strengthen Their Market Position
The market landscape is highly competitive with the presence of multiple prominent manufacturers globally. Several of these manufacturers are multinational companies and have production and sales rights in various regions. In addition to this, heavy investment by the prominent players in research and development has induced a strong dose of innovation in the market and is increasing product launches. The companies are also focused on partnerships with domestic players to expand their footprint across developing countries.
Industry Development:
- January 2020: Belkin has launched a new boost charge USB-c power bank with multiple output power options of 18W, 30W, and 12W.
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