A power bank, commonly known as a battery charger, is a portable charger, used to charge a wide range of digital products. It is used as an external battery, plug-in charger or back-up charger for charging a rechargeable battery or secondary cell. Power banks can be used to charge products including mobile devices, laptops, digital cameras, and tablets among others. The design and make of a power bank depends on the type of device being charged. Power banks are not one-time equipments and can be recharged and re-used. Their capacity is measured in terms of mAh (milliampere-hour); higher mAh implies higher capacity of the power bank. Commonly, lithium batteries are used in power bank design for their compact nature, affordability and wide market reach. In addition, lithium being a highly reactive element can store energy more efficiently and can handle charge and recharge cycles effectively. The most significant part of power banks are the batteries and the PCB board. Presently, power bank batteries are categorized as square aluminium case, cylindrical battery and polymer battery.
Versatility in terms of application and mobility are significant features of power banks. These devices are available across various shape, sizes, colours and capacities. The digital device to be connected determines the required capacity of the power bank. Product types include built-in rechargeable line type, power bank with LED, solar power banks, etc. Application areas mainly include mobile phone chargers (adapters and USB chargers), Electric Vehicle (EV) chargers etc.
Rapid economic development, increased consumer purchasing power and better living standards have positively affected the electronics market. However, these devices come with low battery capacity and thus the demand for portable power back up has been on a rise. Furthermore, proliferation of smart phone technology has provided a growth impetus to the power bank market globally. Increased demand and usage of mobile phones, tablets, phablets and other digital gadgets has spurred the market growth. Besides, usage of power banks is on the rise with increased functionality of digital productsChina is a key regional market, and increasing demand for power banks has created opportunities for market growth on a global level as well. Owing to fierce competition in the industry rapid innovations and R&D activities are widely undertaken.
Advancement of technology and use of portable devices has driven the growth of the global power bank market. Companies operating in the market include Samsung Electronics, Panasonic Corporation, Sony Corporation, Lishen, Philips, Sanyo and Ultralife Corporation among others.
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